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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, _________ _________ _____ _______ ________ ___ _____ _____.
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