Family firms are not inherently big risk-takers. Responsibility sits heavily on a leader’s shoulders because they will not want to sacrifice generations of toil. However, caution does not mean a company cannot be successfully competitive, writes George Malim
Learning from and valuing the past, developing on a personal and business level and striving to embrace new concepts are all key to successful growth strategies for family firms. Joachim Schwass summarises the findings of an exhaustive and revealing study
Both sides of a three-generation manufacturing business have been to see the corporate attorney to end their business arrangement. Neither branch of the family wanted to be tied to the other any longer financially.
According to recent research, family firms have stronger 'people' values than non-family firms and are more likely to put customers and employees ahead of profits
According to recent research, family firms have stronger ‘people’ values than non-family firms and are more likely to put customers and employees ahead of profits.
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