Written on 26 June 2015.
Within a more complex, global, competitive and uncertain environment, the modern family business faces a triple requirement: Strategic Entrepreneurship Imperative, Family Dynamics Management and Family Business Leadership.
The ultimate goal for a family business is to remain as such, i.e. to continue as a company and be successfully transmitted to the next generation. And if ways and solutions are unique to each family firm, the issues are similar to many… and the challenge awesome, if we consider the low inter-generation transmission rate.
Within this triple requirement of Strategic Entrepreneurship Imperative, Family Dynamics Management and Family Business Leadership, the three elements are not as separate as written. Leadership Excellence can lead to Efficient Governance and often contributes to the performance of the company in the market. And Efficient Governance will facilitate the identification of an exceptional leader…etc. They nourish each other to contribute together to the continuity goal of the family business.
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