Taking the long view is important for running a sustainable business. Doing good does not need to be at odds with profits, though – it's also sound business sense that reflects the long-term thinking of many family companies.
A successful generational change is critical for the survival of the family business. But what can the next generation do to best prepare for taking the reins?
While family-owned businesses are more financially successful than other companies, a change in generations is a common obstacle.