Introduction to Family Business: An Inspiring Source

Peter Lorange and Karin Mugnaini
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Peter Lorange: IMD
Karin Mugnaini: IMD

Chapter 22 in The Future-Ready Leader, 2023, pp 199-200 from Springer

Abstract: Abstract To establish a long-term business focus is critical for any firm; hence, an approach taken from family businesses who are inherently good at this may be helpful. Many of the fundamental challenges facing business today call for such a longer-term focus. In privately held firms, there is often no need for short-term performance reporting. This Part focuses on the family-owned firm, usually privately held, and how it operates, invests, creates value, and generates wealth. The learning angle we wish to propose to all readers here, whether from family businesses or not, is to use experiences and information from entities in both related and unrelated businesses or sectors who excel at strategies based on future growth and horizons. In other words, let us avoid silo-thinking.

Date: 2023
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DOI: 10.1007/978-3-031-45090-7_22

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