Research contradicts two clichés regarding the size and durability of family firms. Ambitious study of Spanish companies emphasize that these enterprises are neither as young nor as small as is often assumed. So what are the secrets of their success? At best, long-term business to share a certain set of values? Comparing data from the Spanish that similar studies conducted in other countries, the author believes that family businesses tend to attach greater importance to certain values over others. In particular, the author highlights the values associated with the integrity that foster unity and respect, excellence, hard work, quality, and profitability, entrepreneurial spirit, as well as transparency and social responsibility. To confirm the specific nature and impact of these values on the success of family firms, family business IESE chair is in the process of a new study that will compare the top Fortune 500 companies with leading companies rated Family Business magazine. Significant differences noted, although in both cases the maximum values are the same:. Integrity, respect and customer focus "Hide
by Josep Tapies Source: IESE-Insight Magazine 8 pages. Publication Date: December 15, 2010. Prod. #: IIR042-PDF-ENG
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