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Family Businesses: The Essentials by Peter Leach

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3The family’s relationship with the business

Developing a strategic vision and building teamwork

Families learn to build a shared vision by aligning individual and family values and goals, and that vision becomes a guide for planning, decision-making and action. A starting point is the simple question: ‘What’s our business for?’ Often this enquiry produces a range of answers from different family members: some may see the business as jobs for the kids; others may see it as a pension fund, or a lasting family legacy, or a Ferrari, or a charitable foundation, and so on. Developing a consensus on this most basic of questions helps families significantly improve their chances of success when they move on to establishing clear ground rules for their ...

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