Paper Title
STRATEGIES FOR FAMILY BUSINESS PROFESSIONALIZATION

Abstract
One of the most important issues for family businesses in their quest of continuity and renewal is professionalization that isdefined as a multidimensional transitional process that transforms an informal and young family business into a more complex organization that is able to integrate the subsystems of family, business, and ownership. This transition toward more formal structures and processes will facilitate company’s growth through better strategic management, enable more harmonious family relationships, and prepare the leadership and ownership succession to the next generation.However, professionalization brings important challenges to family firms as they might not be motivated or able to pursue a professionalization agenda. Based on case study methodology, the paper identifies and develops practical strategies that could be implemented by family firms to facilitate their professionalization.The goal is to propose a roadmap that could assist family businesses to manage their professionalization issues. Keywords - Family Business; Professionalization; Three-Cycle Model; Strategic Management.