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The challenge of family business leadership is to create families and business organizations that inspire us. Ones that not only serve personal ambitions but that also reinforce our integrity, our optimism, our faith in democratic processes and our ability to learn. Will the next generation build, destroy or sell the business? Will the family thrive or fragment? Will the next generation sustain the family's legacy? Few Family Businesses succeed from one generation to the next due to the difficulty of managing the family's dynamics and changing individual developmental needs. We believe that Family Business Leaders face not only all of the enormous challenges of Business Leadership but also the task of mentoring the next generation. Successful family businesses find ways that utilize the wisdom of the elders and the enthusiasm of the next generation. The goal as we see it, is family and business growth and continuity. The challenges of meaningful family life and business expansion are enormous and often pull families apart. Can we build family businesses that we are proud of and that inspire us? Ones that face hard business realities and the softer needs of family life. We believe that the overall goal for family business members should be to develop a family and organizational environment that creates an atmosphere of caring and competence to encourage dialogue, responsibility, innovation and a commitment to developing the vision of the business. |
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