Values in Your Family Business
Are they your connective tissue or weakest link?
It is critical that family and business values be reconciled in a family business. In “Fostering Family Value(s)”, Olof Bik and Michel Adriaansens point out that there are two sides of the values coin, regardless of where those values originate. How does one “embed and preserve the integrity of core values,” yet avoid the pitfall of a “strong culture turning into a repressive culture”?
These are questions that every family business must address, in the boardroom and the living room. Here at Insights, we want to help guide you and your family (and your business) to address these questions productively. We suggest the following videos to get started. Access is free, and it takes only a moment to sign up (name and email address only)
“From the beginning the family was the main thing, and the legacy of my family has always been something that has really, really been important.” Carolyn Greenspon, of The New York Times Company’s founding family, explains how their family legacy and values have been preserved for five generations.
“Your children are watching you… They know what you’re imparting, and so to be really conscious about it is critical…” Margaret-Jean Mannix discusses not only how parents pass values to their children, but how family and business values can be preserved by extended family and colleagues for a stronger family/ business unit.
“Continue to encourage them to be innovative, to have entrepreneurial ideas. But what’s the glue? The glue will be a set of family values.”Annie Koh takes on the topic of tradition versus innovation, and explains how family values can help bridge the two.
“It’s nice when the world around you is rather chaotic to have a base which is solid, where your values are solid, where you know where you stand and it’s a harbour, it’s a safe harbour.” François de GaspéBeaubien shares how family values can provide a business with an anchor, even when all else is stormy and chaotic.