Entrepreneurship

Entrepreneurship

Preserving the spirit of a family business when the heirs are no longer in charge

A number of studies demonstrate how working for a family enterprise can bring many benefits. However, when the company survives and prospers, the founders do not always have the ability or the desire to carry on running the company and the role of preserving the family spirit and values is passed on to non-family members. So how can the family identity be maintained when the family, for whatever reason, is no longer at the helm of company operations?