Journal of Business & Economic Policy

ISSN 2375-0766 (Print), 2375-0774 (Online)

The Three Dimensional Development Model of Family Business
Barbir Daliborka

Abstract
Family businesses have proved to be vital and successful part of the economy in all economies of the world, especially in developed countries which have a long tradition of entrepreneurship and private property. For successful operation of large family businesses it is necessary to hire managers who are not members of the family and that his competence and skills should cover all scarce skills in the family business, a rational view and unencumbered by family relations should raise the level of efficiency and professionalism of the company. This paper presents characteristics of the three dimensional development model of family business, which consists from family, ownership and business.

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