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Tom Lumpkin's Blog (1)

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

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