Family Values and Business Culture
- 323 Downloads
The importance of family business values was clearly demonstrated by Whitney MacMillan, the last family CEO of Cargill, when he stated, “As a company, we have believed in the same values for 125 years, even though we have changed the business every five years.” It is natural to explore family values at the start of the Parallel Planning Process because planning represents how the family perceives itself, what is important, and how it behaves. Family businesses, like all for-profit organizations, are driven by values related to competition, wealth, responsibility, fairness, and hard work. Counterbalancing these economic priorities are family values about love, cohesion, self-esteem, and caring.
KeywordsCorporate Social Responsibility Family Firm Family Business Business Culture Psychological Ownership
Unable to display preview. Download preview PDF.
- 2.Carlock, R. S. Eu Yan Sang: Healing a Family and Business (INSEAD case study, 2004).Google Scholar
- 3.Ward, J. L. and Zsolnay, C. A. Murugappa Group: Centuries-Old Business Heritage and Tradition, (Kellogg School of Management case study, 2004).Google Scholar
- 4.Ward, J. L. and Zsolnay, C. A. Succession and Continuity for Johnson Family Enterprises (A), (Kellogg School of Management case study, 2004),Google Scholar
- 5.Ward, J. L. and Lief, C. Prudence and Audacity: The House of Beretta (IMD case study, 2005).Google Scholar
- 6.Abdon, E., Engellau, E., Florent-Treacy, E., Guillen, L., and Marmenout, K. under the supervision of Kets de Vries. M. Fatima Al Jaber and Al Jaber Group: Traditions and transitions in a United Arab Emirates Family Enterprise (INSEAD case study, 2009).Google Scholar
- 7.Watson, N. and Story, J. MAS Holdings: Strategic Corporate Social Responsibility — A Strategy for the Apparel Industry (INSEAD case study, 2005).Google Scholar
- 10.Kenyon-Rouvinez, D. Sharing Wisdom, Building Values (Marietta, Ga: Family Enterprise Publishers, 2002).Google Scholar
- 11.Collins, J. C. and Lazier, W. C. Beyond Entrepreneurship (New York: Prentice Hall, 1992).Google Scholar