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Reinventing the Wheel! The Witten Model of Family Strategy Development

In: The Two Sides of the Business Family

Author

Listed:
  • Arist von Schlippe

    (Witten/Herdecke University)

  • Tom A. Rüsen

    (Witten/Herdecke University)

  • Torsten Groth

    (Witten/Herdecke University)

Abstract

The final chapter of this book brings together our theoretical observations and our empirical findings to present a practical concept of how to engage in a process of communication, reflection and strategy development that allows a family to embark on an examination of itself and its relationship with its business. The chapter offers a guide to a prototypical process of family strategy formulation, broken down into 12 topic areas. As we see it, work on family strategy means shifting from hope to trust. Those who continue to make family strategy decisions in ways that have proven effective in the past have to hope that the family circumstances and environmental demands continue to fit the familiar solutions. Anyone initiating a family strategy process is calling on the family to engage in a significant effort to communicate, and, even when a family strategy has finally been established, dispute and conflict will not disappear.

Suggested Citation

  • Arist von Schlippe & Tom A. Rüsen & Torsten Groth, 2021. "Reinventing the Wheel! The Witten Model of Family Strategy Development," Management for Professionals, in: The Two Sides of the Business Family, chapter 9, pages 189-246, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-60200-0_9
    DOI: 10.1007/978-3-030-60200-0_9
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