Research contradicts two clichés about the size and longevity of family companies. An ambitious study of Spanish companies underscores that these businesses are not neither as old nor as small as is frequently imagined. So, do you know the secrets to their success? Do prosperous, long lasting businesses share a distinct set of values? Comparing the Spanish data with that of similar studies done in other countries, the author finds that family businesses do have a tendency to attach greater significance to certain values over others.
In particular, the writer highlights values associated with integrity, which nurture reverence and unity; hard work, superiority, quality and profitability; entrepreneurial spirit; in addition to transparency and social responsibility. To confirm the specific nature and influence of these values on the success of family firms, IESE's Family-Owned Company Chair is in the procedure for conducting a new study, that will compare the very best Fortune 500 businesses with the leading companies as rated by Family Business magazine.
PUBLICATION DATE: December 15, 2010 PRODUCT #: IIR042-PDF-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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