How Family Business Owners Can Step Up During A Crisis
More than six months after the declaration of a global pandemic, management teams are turning from crisis response to future planning. They're evaluating long-term shifts in consumer preferences, reconsidering existing strategies - if not their entire business model - and identifying the talent to deliver on new strategies.
Yet this planning is taking place in an uncertain and rapidly changing environment, where the near- and medium-term outlooks for most businesses are still highly unpredictable. It is clear that success will require agility and flexibility.
In a meaningful sense, multigenerational family enterprises are at an advantage. By their very existence, they have demonstrated the ability to evolve to meet changing demands - often while honoring legacy and maintaining the family's values...