Book Review: Family Business and Positive Psychology

Vol. 3, No. 9

 

“I understand small business and growth. I was one.”
—George W. Bush

 

Growing and operating a family business is more that keeping an eye on the bottom line. Scott E. Friedman introduces us to new ways to counsel a family business in his book, Family Business and Positive Psychology, a publication of the ABA Solo, Small Firm and General Practice Division; $105.95 to members of the GPSolo Division at the ABA Web Store.

Family businesses require advisors who can provide counsel on their complex dynamics, particularly with respect to creating and supporting a culture that allows family members to (a) flourish as individuals, (b) collaborate constructively, and (c) run a business effectively and prosperously.

Family Business and Positive Psychology outlines how to create a positive family business culture, promote job “suitability” over “convenience,” and discover positive ways to resolve family business issues. Friedman shares the blueprint for the process of creating value and mission statements with examples from Fortune 500 companies. Instruction is provided on how to establish an advisory board and an effective board of directors is discussed. In addition, unique methods of solving conflict are discussed.

The book includes exercises and activities within each of the 13 chapters designed to help convert the ideas and suggestions into regular practice.

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