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Conclusion

In: Wise Growth Strategies in Leading Family Businesses

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  • Joachim Schwass

Abstract

Family businesses are complex structures; they have to reconcile and create equilibrium for the needs of four different interest levels: family, ownership, management and the individual. Over time, the needs of these four stakeholders change and evolve, thereby creating the need for a new equilibrium. Most family businesses experience difficulties in finding an effective approach in creating the new equilibrium, which results in high financial and human opportunity costs. The nine award-winning family businesses provide insights and examples for meaningful and effective solutions. Most importantly, they actively developed the next-generation leaders. This is by far the most important strategic decision a family — as business owners — faces in regard to sustaining the family business.

Suggested Citation

  • Joachim Schwass, 2005. "Conclusion," Palgrave Macmillan Books, in: Wise Growth Strategies in Leading Family Businesses, chapter 5, pages 97-98, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51335-8_6
    DOI: 10.1057/9780230513358_6
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