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Introduction to Family Business: An Inspiring Source

In: The Future-Ready Leader

Author

Listed:
  • Peter Lorange

    (IMD)

  • Karin Mugnaini

    (IMD)

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.

Suggested Citation

  • Peter Lorange & Karin Mugnaini, 2023. "Introduction to Family Business: An Inspiring Source," Springer Books, in: The Future-Ready Leader, chapter 22, pages 199-200, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-45090-7_22
    DOI: 10.1007/978-3-031-45090-7_22
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