Generations in the West are different than in the East. Are you familiar with these generations, Baby Boomers, Generation X, Generation Y also known as Millennials? Are they in our Family Business? Historically we had at the most 3 generations in the workplace. Businesses soon may have as many as five generations in the workplace. [Continue Reading]
Growth, are we ready for our ‘day in the sun’?
. “Conformity is the jailer of freedom and the enemy of growth.” — John F. Kennedy Growth is part of our strategy; a recent study presented the following ideas. “Companies seem to recognize that sticking with the core businesses alone will not get them to their growth objectives. They expected only 45% of their growth [Continue Reading]
“You’ll Miss 100% of the shots you don’t take”
Don’t Miss the Opportunity “You’ll Miss 100% of the shots you don’t take” Family Businesses, the successful ones, recognize that their longevity depends on keeping customers, employees and shareholders happy. Recently a family business President commented on the challenges and the opportunities that have been presented to him. He expressed his personal drive, focus and [Continue Reading]
Fractional Math, Thermodynamics and Family Business
The second law of thermodynamics is an expression of the tendency that over time, differences in temperature, pressure, and chemical potential equilibrated in an isolated physical system so as to result in the natural entropic dissolution of the system itself. Stated more simply, the energy of a system wanes over time if there is [Continue Reading]
Great Companies, Family Businesses, Don’t Start With A Plan! Really?
Planning, Passion and Purpose in Great Companies Many Colleges and Universities have a center for small business, some have programs for family businesses and a few even offer degrees in Family Business Management. Many if not all offer classes on business plans, strategic plans, tactical plans, short term plan, 5 year plan and some [Continue Reading]
Family Business from Entrepreneurial to Managerial to Professional +Social Media
“An office worker was fired after her employer discovered her sex blog. A waitress was fired for venting about a customer on Facebook. A woman lost a job offer at Cisco because of something she said on Twitter. These incidents illustrate why it might be wise to create a social media policy for our employees.” [Continue Reading]
Do You Manage From A ‘Big Picture’ Or Details Perspective? Get Ready To Zoom In And Zoom Out!
What is your management style? Do you lead by making balancing complex markets and factors that can impact your business or do you roll up your sleeves and work out the smallest details? A few weeks back there was a TED event at the University of Michigan Flint. TED (Technology, Entertainment and Design) is a [Continue Reading]
Preparation — Believe It Will Be Better Because You Created A Plan
A friend often quotes the Karate Kid by sayig “your focus needs focus!” Preparation is a matter of discipline, focus and grounding. We have to believe it will be better because the time spent to prepare. Many times in Family Business we only have three choices, give up, give in or give it all you’ve [Continue Reading]