Published by:
Harvard Business Publishing
Length: 4 pages
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Abstract
What may be appropriate for managing the finances of large public corporations doesn''t necessarily (or often) fit private companies. Standard financial statements are unreliable when money moves freely between the business and owner. And rules of thumb for investment decision making and growth aren''t useful either. When a company is largely operated as a vehicle for a family--to provide jobs, security, flexibility, and access to opportunities that suit the family as much as the market--conventional financial protocols don''t always matter.
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Abstract
What may be appropriate for managing the finances of large public corporations doesn''t necessarily (or often) fit private companies. Standard financial statements are unreliable when money moves freely between the business and owner. And rules of thumb for investment decision making and growth aren''t useful either. When a company is largely operated as a vehicle for a family--to provide jobs, security, flexibility, and access to opportunities that suit the family as much as the market--conventional financial protocols don''t always matter.