Role of the Board of Directors in Family Businesses in Peru: A Qualitative Perspective

This study analyzes the role of the board of directors in the management and development of family businesses in Peru. The research uses a qualitative approach, conducting in-depth interviews with 14 participants, and determining the total number of interviewees through theoretical saturation. The interviews included executives from four small, four medium-sized, and six large companies. The interviews included 12 semi-structured questions and were analyzed using ATLAS.ti software. The findings revealed that boards of directors are composed of family members and outside professionals, creating a balance between the family's vision and independent perspectives in a changing environment. Furthermore, the board plays a strategic and advisory role, making key decisions to guide the direction of the business. This study concludes that the board of directors is key to the strategic planning and sustainability of family businesses.