Unconventional Wisdom

Title: Unconventional Wisdom

Author: J Ward

Binding: Paperback

EAN: 9780470021651

Condition: Good

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Description:
Family businesses prosper by pursuing unconventional strategies. Because they are values-driven and think very long-term, they take approaches not popular with current management fashion or most companies. That is the key to their competitive advantage.

Family businesses prosper by pursuing unconventional strategies. Because they are values-driven and think very long-term, they take approaches not popular with current management fashion or most companies. That is the key to their competitive advantage.

Family businesses must find ways to simultaneously serve business needs and family goals, to safeguard economic interests and strengthen personal relationships. Both are equally important, yet they require very different priorities and principles. As a result, successful families in business must think paradoxically. They must find insights that single-purpose enterprises need not contemplate. They must dare to be different.

Family business is very personal and very culture-particular. As such, two fundamental insights have emerged from IMD's research and teaching experience with enduring family firms: 1. Individual responsibility is the most important ally to change; 2. Best practices are less important than fitting solutions to the specific family business context.

Family business requires a different governance system, but one that can nevertheless be controlled. Building on insights from the world's premier family business executive education course, this book offers the Unconventional Wisdom needed to leverage the strategic and cultural uniqueness of a family business for enduring success.

Family businesses prosper by pursuing unconventional strategies. Because they are values-driven and think very long-term, they take approaches not popular with current management fashion or most companies. That is the key to their competitive advantage. However, family businesses must find ways to simultaneously serve business needs and family goals, which require very different priorities and principles. As a result, they must think paradoxically, and find insights that single-purpose enterprises need not contemplate. They must dare to be different. Family business requires a different governance system, but it must nevertheless be one that can be controlled. Building on insights from the world's premier family business executive education course, this book offers the Unconventional Wisdom needed to leverage the strategic and cultural uniqueness of a family business for enduring success.