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The three-circle model of family business is one of the most widely recognized frameworks for understanding the dynamics, opportunities, and challenges that arise in family-owned enterprises. It was developed in 1978 by Renato Tagiuri and John Davis at Harvard Business School, and since then it has been used globally as a tool to explain the complex interactions in family businesses. The model consists of three interrelated and overlapping circles: family, ownership, and business. Each circle represents a distinct system with its own set of rules, interests, and priorities. Individuals involved in a family business may belong to one or more of these circles, which shapes their roles, expectations, and sources of conflict or harmony. The first circle is the family system. This includes all family members, regardless of whether they have ownership or direct involvement _______ _____ __________ ___ ___ ___ _______ _______ _______.
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