Path of Family Business: Unveiling the 8 Core Operational Principles of Excellent Family Businesses: Unveiling the 8 Core Operational Principles of Excellent Family Businesses

Author: Zhou Xibing
Publisher:
Publish Date: 2004-01-01
Features: The people-oriented business philosophy created the vast IBM computer empire, Panasonic's corporate culture built a strong electrical appliance group, and the profit-sharing plan with employees constructed the global chain of Walmart supermarkets. In the Fortune 500 ranking of companies, family businesses account for one-third. Family businesses are not synonymous with outdated management; many family businesses possess strong cohesion, robust vitality, and excellent business philosophies. To ensure the normal development of a business, it is essential to make business rules the mainstream, and to "dilute" family rules. Of course, this "dilution" is not cold-blooded; rather, it requires a rational approach to family relationships, sharing family sentiments with business principles, and properly handling the conflict between "family and business." The people-oriented business philosophy created the vast IBM computer empire, Panasonic's corporate culture built a strong electrical appliance group, and the profit-sharing plan with employees constructed the global chain of Walmart supermarkets. In the Fortune 500 ranking of companies, family businesses account for one-third. Family businesses are not synonymous with outdated management; many family businesses possess strong cohesion, robust vitality, and excellent business philosophies.