Please tell me the three competencies (features) that are most important for the successor of the family business in your opinion.
freedom of choice
support and advice
transfer of competence
(co-owner of family business)
In my opinion, the three core competencies for success of a family business successors are : Drive with a vision, Initiative with pursuance for achievement, and Creativity for Innovation , which are likely to ensure sustainable development and growth of the business.
thank you very very much for your answer and of course, Merry Christmas and Happy New Year
In Family Business, the leader cares for your company. Fundamentally it is important commitment, motivation and adaptation. The commitment gives confidence and provides stable relationships with their stakeholders.
To Olga: I am fully agree, commitment is the first priority
To Marchin: I am agree as well as you mentioned support and advice, and transfer of competence. On my suggestion it is Honest
And Finally, To Jaharkanty, I am agree that creativity is very important, whether as a feed back or new idea, which honestly expressed by the member
Dear all,
I am working on a research oh the impact of Entrepreneurship education on non-business graduate students at my institution. One of the objectives of the program is to develop the students' positive attitudes towards entrepreneurship as an opportunity and alternative for their career options.
Knowledge about the current market condition, ability to sustain the market relation through better networking and profit oriented decision making.
To Prof Kumar, I am agree that ability to sustain the market relation through better networking and profit oriented is essential. Besides creativity would support it as well
To: Jaharkati: I am agree, especially drive and initiative, which it's a part of collaboration on developing the creativity. Commonly, the structure organization of family business is vertical or paternalistic.
In my opinion, the first thing is creativity. Especially in the italian context, I see many big family firms born from an innovative idea of a grandfather that are not more able to innovate when the rudder passes to successors. They tend to focus on respect for tradition rather than innovation, and this undermine their surviving probability. I agree on commitment as second most important competency. The third is openness toward members who are outside the family. Also in this case, the italian case is emblematic. The italian family firms tend to search employee/manager always inside the family, and in doing so, they are not permeable to new ideas.
- Badges
- Science topic
- Similar topics
- Statistics
- Survey