The older the family enterprise, the more pronounced are…

The older the family enterprise, the more pronounced are each of these qualities. These six cultural qualities, common across different countries, appear to differentiate generative families from less successful business families, are represented in Figure 6.2: Long-term commitment and patience to achieve goals Extension of family values to business Disciplined, focused, professional business Deepening the talent pool through collaboration with nonfamily leaders to recruit the best Professionalization of family leaders to be responsible stewards Entrepreneurial attitude and new ideas encouraged in each new generation

— from True North (Ethics, Integrity, Truth, Values)

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