As I move about and work with families in business and other private business operators I see a diverse range of internal business cultures within many of them. There is such a disparity between those who have got it right and those who fail to understand what is really going on in their business with their people. It’s been the greatest challenge of my advisory work in this segment and the most rewarding when we get it right and everyone embraces change
The benefits of understanding why culture is so important as a driver of success is a given when you find examples of leaders and companies who are enjoying sustainable growth and ongoing profits through a positive internal culture.
I find that one of the key issues is the relationship between the generations, especially in a family business.
Is opening the family board or establishing an advisory panel to non-family members going to improve your performance? Yes – definitely! In any family enterprise, commercial, manufacturing or agribusiness, you should take the position that you are custodians for future generations. Good governance, policies and planning is about building wealth in the long term. READ THIS POST
In some family businesses I have meet over the years you come across the Golden Child. They have never had to want for anything and believe that have a right to take from the family business and not give back. I often wonder how this happens when the founders started with nothing and gave their all for little return. READ THIS POST
Stress in the workplace is the largest segment of work cover claims for employees. Who is looking after the business owners who are at their wit's end trying to cope with the daily issues in running a business? They are heading for major health problems READ THIS POST
How do the next generation and baby boomer founders work in harmony with each other when the next generation want to take control and Mum and Dad don't know how to or don't want to let go.? READ THIS POST