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What the Families Must DoPROFESSIONALIZE MANAGEMENT: More well-trained managers are needed at the top REFORM THE BOARDS: They should have more outside members with good credentials as managers and investors FOCUS THE BUSINESS: Family companies are sometimes too diverse PAY ATTENTION TO SHAREHOLDERS: That means managing to increase returns to investors, not the families UPGRADE ACCOUNTING: Clearer financial reports attract investors and increase the pressure on companies to perform DATA: BUSINESS WEEK
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Updated June 15, 1997 by bwwebmaster
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