This chapter investigates the distinctive dynamics of family firms, underscoring their critical contribution to the global economy. It provides a definition of family businesses and juxtaposes them with non-family firms, highlighting the influence of family ownership on leadership styles, decision-making processes, and conflict resolution strategies. The analysis employs several theoretical frameworks, including agency theory, stewardship theory, and socioemotional wealth (SEW), to illustrate how family priorities inform organizational strategies and cultural practices. Key distinctions examined encompass ownership structures, strategic objectives, succession planning, and human resource management. Family firms often adopt a conservative approach to risk, prioritizing long-term stability and the preservation of legacy. The chapter places particular emphasis on the emotional complexities associated with leadership transitions, as well as the ways in which family values shape decision-making procedures. It also explores the implications of family culture on employee relations, with a specific focus on balancing fairness and loyalty. Furthermore, the discussion addresses issues of innovation and adaptability within family firms, identifying both challenges and opportunities. The conclusion advocates for a deeper exploration of family firms within the field of organizational behavior to enhance understanding of the interplay between family values and business strategies.