Counterintuitive Insights for Family Business Success
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edited by John Ward; contributions by IMD Professors Dan Denison, George Kohlrieser, Joachim Schwass, Ulrich Steger et al.
Family businesses prosper by pursuing unconventional strategies. Because they are values-driven and think very long-term, they take approaches not popular with current management fashion or most companies. That is the key to their competitive advantage. However, family businesses must find ways to simultaneously serve business needs and family goals, which require very different priorities and principles. As a result, they must think paradoxically, and find insights that single-purpose enterprises need not contemplate. They must dare to be different. Family business requires a different governance system, but it must nevertheless be one that can be controlled. Building on insights from the worlda's premier family business executive education course, this book offers the Unconventional Wisdom needed to leverage the strategic and cultural uniqueness of a family business for enduring success.
J. Wiley and Sons, 2005