Ownership versus Management: Be Sure There Is A Difference

In many family businesses, there's a great deal of confusion between ownership and management. They are not one and the same.

I began to figure this out several years ago when I bought some IBM stock. I wrote a letter to the president of IBM explaining why I felt that they should place less emphasis on their mainframe computer business and spend more time marketing PC's. I received a nice form letter from the shareholder relation's department; I