Management and governance in family businesses: contemporary challenges for continuity and organizational professionalization

Abstract

Family businesses represent the structural backbone of the Brazilian economy, accounting for the vast majority of private enterprises and playing a critical role in employment, income generation and regional development. However, despite their economic relevance, such organizations face structural dilemmas that threaten their longevity — particularly concerning succession planning, professional management, and the implementation of solid governance frameworks. This article critically examines contemporary challenges in family business management, using Panificadora Venturini — a consolidated and historically relevant family enterprise — as a central reference to explore the tension between tradition and modernization in the Brazilian business landscape. The analysis further incorporates a comparative study with governance models applied to family businesses in Europe and North America, highlighting structural differences in ownership logic, leadership continuity and long-term sustainability. Findings indicate that the absence of governance and strategic accounting practices does not merely limit growth, but actively accelerates conflict, decision paralysis and competitive erosion. The study concludes by proposing an integrated governance-management framework tailored for family-owned companies — one capable of preserving identity and culturais roots while ensuring institutional longevity and strategic resilience.