Family Functions, Family Contract and Sustained Development of Family Business

Family functions are of reproduction, emotional sustenance and support. The relationship between family members constitutes a family contract, the superiority of which lies in the altruism and responsibility. The essence of family business is the substitution of the superior for the inferior in contract, which determines its multi-functions. To realize the sustained development of family business, family contract superiority needs to be brought into full play at the family level and corporate level.