Family Business Wiki's Town Square

Family Business Wiki's TOWN SQUARE

October 2014 Blog Posts (5)

What Family Business Can Teach Social Entrepreneurs - by Tom Lumpkin and Sophie Bacq

Family businesses, as it turns out, have a number of things in common with social enterprises. Both have a need to thrive economically, but are also motivated by non-economic goals such as helping others and enriching their communities. Both must deal with short-term decisions and demands, but many are guided by a long-term orientation that also influences decision making and action. Relative to nonfamily firms, both face the challenge of aligning the varied and sometimes divergent interests…

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Added by Tom Lumpkin on October 27, 2014 at 9:30am — No Comments

Best Advice to a Family Business? Seek Outside Advice!

“In the multitude of counselors (Advisors) there is safety.” Proverbs 11:14



There is safety in numbers. We have all heard this before. However, it is not entirely true. The safety comes from being with the right people, those who can lift us up, teach us, guide us, and lead us. When we trust the people around us, and they trust us, that is where the safety is found.



In your family business, you have had success because you know your business, your customers, your industry,… Continue

Added by Edward J. Hart on October 26, 2014 at 2:05pm — No Comments

The fabric of successful business families: Emotional roulette or emotional compass?

    “The rise and fall of the House of Seagram”, “Dethroning the King : The hostile takeover of Anheuser-Busch”, “Steinberg: The breakup of a family empire” or “Gucci Wars”, to cite a few, are documented storytelling books about the successes and failures of business families. Standalone from the actual facts, what strikes the reader most is the key role played by emotions in defining or shaping the family and…

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Added by Rania Labaki on October 22, 2014 at 1:30pm — No Comments

Are You Getting the Message Across? Tips for Avoiding the Common Pitfalls of Familial Miscommunication

One of the fascinating things about working with family businesses is discovering how different all families are, each one special and challenging in its own way. Despite the seemingly unique set of challenges presented by each family I have worked with, in almost every case there lurks an issue with miscommunication at its root. Here, I take a look at some of the most common examples of familial miscommunication and provide some ideas for their remedy…

 

My first example is…

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Added by Phoebe Clark on October 17, 2014 at 11:16am — No Comments

Lessons from History. Families in Business? First, Families in Society... if you want to endure

Lessons from History: Families in Business? First, Families in Society if you want to endure, by Paloma Fernández Pérez, Universitat de Barcelona, palomafernandez@ub.edu



In recent business history books and articles about longevity and endurance of large family businesses in the world I have demonstrated that the oldest and largest family firms and groups are  in Japan and Germany, two countries that were devastated by world wars. Also,…

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Added by paloma fernandez on October 8, 2014 at 5:19am — No Comments

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