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Through pages filled with wisdom, tips, guidelines and experiences, the authors seek to navigate brothers and sisters who work in the family business or who are active owners through the challenges and opportunities and to retain the integrity of the family while serving the business.
This study empirically examines the dynamics of co-leading siblings in family firms. The findings were generated from qualitative interviews with 13 family firms of which nine are currently and four cases were once co-led by siblings. The research revealed that successfully and sustainably co-leading a family business as siblings can be considered as the king’s class of leadership as it includes managing the family layer with at least as much attention as the business layer itself. Besides diversifying in qualifications, competences, personalities and distribution tasks accordingly, processes such as the active and conscious decision-making for the business and at the same time for the co-leadership with other siblings are increasingly important to form a successful sibling team.
Family businesses that expect to endure over a long period of time must learn to respond and adapt to a rapidly changing environment. The authors provide a new appreciation for the importance of change and the tools necessary to incorporate change as a company tradition.
Here Aronoff and Ward show siblings and cousins how to work together on key issues that are critical to the future success of the business including how to attract the most capable family members into leadership roles, how to develop agreement among many owners and how to create a "cousin collaboration".
The Power of Inclusion in Family Business is a guide for grooming the next generation of responsible women owners in family businesses, so they can thrive, achieve, and become leaders and wealth stewards in their multigenerational family firms and family offices.
In order to respond to economic globalization and increased competitive pressures, companies need innovative, efficient and effective management strategies. Accordingly, this book explores various scenarios faced by entrepreneurs and family businesses, and proposes strategies to tackle the challenges and seize opportunities to grow in a highly competitive environment. It underscores the importance of deploying vital strategies to survive and flourish in the long term, overcoming challenges, and capitalizing on opportunities in order to attain / maintain a competitive position. By presenting and integrating the latest insights and case studies on entrepreneurship, family businesses, and strategy research, the book provides concrete recommendations for effective business survival and growth.
Eckrich and McClure provide a greater understanding of what a family business really is and how they differ from other companies and work environments. Designed to provide insight into the family and its behavior and to integrate the non-family employee into its unique structure.
