The ultimate family discipline - the family as an orchestra.
- Does the family share a common entrepreneurial and family vision of the future?
- Is the family familiar with the peculiarities of family businesses and thus takes responsibility and makes far-sighted decisions?
- Are the required professional and social skills available in the family in order to look into the future with calm and strength?
Entrepreneurial families are confronted with an increased complexity: The interaction between family and company is a fundamental challenge.
Experience shows that stakeholder groups such as (potential) employees, customers or financial partners value professional and robust management structures. While these corporate governance tools are often present, they are absent in the family.
The family is considered to be the most powerful resource in the company and it is important to use it. Family businesses that create added value over generations do so with forward-looking family and company structures. The trick is to develop a common understanding as family members about the family, entrepreneurial and related financial thrust and to align their commitment accordingly. This reduces the complexity, ensures more ease and a sustainable future planning and strengthens the identification with the company which serves the continuation.
Every family business is unique. This uniqueness constitutes its strength - as long as you know about it and use it.
