Conclusion

Joachim Schwass

Chapter 5 in Wise Growth Strategies in Leading Family Businesses, 2005, pp 97-98 from Palgrave Macmillan

Abstract: Abstract Family businesses are complex structures; they have to reconcile and create equilibrium for the needs of four different interest levels: family, ownership, management and the individual. Over time, the needs of these four stakeholders change and evolve, thereby creating the need for a new equilibrium. Most family businesses experience difficulties in finding an effective approach in creating the new equilibrium, which results in high financial and human opportunity costs. The nine award-winning family businesses provide insights and examples for meaningful and effective solutions. Most importantly, they actively developed the next-generation leaders. This is by far the most important strategic decision a family — as business owners — faces in regard to sustaining the family business.

Date: 2005
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DOI: 10.1057/9780230513358_6

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