It’s no secret that strong, sustainable business cultures contribute to strong, sustainable financial performance and, hence, business value.
Generally speaking, family businesses tend to have an enviable culture which other types of businesses can learn from.
This is often due to the presence of engaged owners working alongside others in the business and overseeing its strategic direction.
While other businesses may espouse positive values, family business tend to live these values as a result of the intense owner involvement.
Of course, there also can be challenges with a family business culture, sometimes creating an environment of ‘them and us’ and also a working culture that can be somewhat suffocating, closed and/or limiting.
An experienced business advisor can assist family businesses to enhance their culture, as well as guiding non-family businesses to emulate the enviable culture which often comes more easily for a family business.
