CONFLICT RESOLUTION CHALLENGES IN FAMILY OWNED BUSINESS IN SAUDI ARABIA

Abstract

A family-owned business is defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family. Family-owned businesses might the oldest form of business organization. In urban settings, family-owned business was once normal for a shopkeeper or doctor to live in the same building in which worked and family members often helped with the business as needed. This study is intended to find out the conflict resolution challenges in family owned business in Saudi Arabia. A survey has been administered on 100 respondents who work for family owned business. The study concluded that the challenges for conflict resolution in family business are numerous and includes mostly decision-making power, conflict of interests, emotional conflict, qualifications, salaries and compensation and succession.