Principle of Merit From the outset, a family business…

Principle of Merit From the outset, a family business needs to operate on the principle of merit. Putting policies in place that focus on competence and earned privilege and discourage paternalism is just a sound way of conducting a business.

— from True North (Ethics, Integrity, Truth, Values) · Perpetuating the Family Business: 50 Lessons Learned from Long-Lasting Successful Families

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