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Entrepreneurs in Every Generation by Pramodita Sharma, Allan Cohen

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Chapter 5

SECRETS OF ENTREPRENEURIAL ORGANIZATIONS

It is always challenging to create organizations whose structures and practices produce the kind of people and behavior that help them grow and renew. Building a family business that can last past the founding generation by utilizing practices that sustain entrepreneurial thinking and action has its own extra challenges—and some potential advantages.

Family businesses that remain private, for example, are able to think and act more for the long term than just the short term. Because they are not driven by the requirement to predict, report, and precisely deliver quarterly earnings, they can dedicate the inherently lengthy time needed to challenge, nurture, and develop their people.1 A powerful ...

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