Family business in foreign countries of the XIX-XX centuries. Concept, principles, perspectives

Family business plays an extremely important role for the modern global economy. For a long time, this concept was not given due attention, but nowadays a large number of studies are being carried out on the development of a family business. The paper analyzes the development of the concept of “family business” from the initial mentions in scientific works of the 20th century to its modern wording. A thorough analysis of the family business institution in the history of foreign economies, as well as changes in organizations and business process management, was carried out using examples of companies in the 19th-20th centuries. On the basis of cases of the development of international family joint ventures, cumulative historical trends are highlighted that also affect the family business of the 21st century.