Despite changing realities of the new economy, a group of companies – ‘hidden champions’ – has stayed true to its core principles, with business characteristics similar to those of family-run businesses
Family businesses are especially vulnerable to emotional biases that create ‘untouchables’ – people with lifetime tenure in the firm regardless of performance. No family business can eliminate emotions, but a few tips from university tenure systems can help ensure the ‘untouchables’ will be contributing to the firm’s success
Finding the right model of governance at a time of complex change requires essential re-thinking. Focusing on the potential future scenarios and being educated in the key issues are good starting points for an effective transition
Considerations for building a strategy for a family business are different to those of a non-family business. Melding the demands of the market with the values of emotionally connected owners creates superior business performance
Editor's Pick