A framework of family business professionalization

Petru Sandu, Elizabethtown College


The paper is an exploratory study that investigates the proposition that the main professionalization issues faced by a family business are different across its life cycle stages. The main goal of the investigation is to identify the essential steps that could be followed by family businesses in their quest for professionalization as they move along their life cycle. This paper contributes to the literature by advancing the understanding of a family business transition toward professionalization and by describing the complexity of professionalization process from the three-dimensional perspective of business, ownership, and family life-cycles.