Family Business Editor
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The next generation of owners is crucial to the family firm's survival. The process of getting them ready and instilling the right attitudes should start early.
Messages that proclaim solidarity can backfire if they are perceived as opportunism rather than a genuine commitment to the cause. Is your company walking the talk?
Some are rallying the team, communicating better and discovering strength and resilience. For others, the crisis has made their weaknesses and conflicts worse.
Many families dare not discuss certain topics because they want to preserve the illusion of harmony and unity. But these taboo topics are bound to erupt sooner or later.
The Single Family Office should be a strategic partner that ensures future stability, but this family saw them as a piggybank.
Families differ in their willingness to integrate outsiders into their family circle, but be careful: these actions influence the included or excluded individuals in different ways.
Families that learn to use their cohesion, trust, and long-term orientation as strengths can implement strategies more effectively than their non-family peers, especially in times of uncertainty.