Values influence all our decisions. In the case of family managed companies, the organizational structure, the code of conduct, the management style and the commitment of the company owners are all based on the specific world view of the family. Accordingly, family values are one of the strategic pillars of success of such companies.
Wealth without meaning is only money.
Moreover, values determine the attitude of the individual family members to their family as a whole (their sense of family), to the management of family wealth and their relationship to family inheritance. Values create a sense of common identity and determine the family members‘ commitment to the family company.
When values are well integrated and lived up to, they enable a sustained and stable family life. In relation to a company, they provide a competitive advantage, which cannot be attained any other way.
How is it exactly that such values create the essentials for a long family and company life? Which values are the most important? Do they differ from the values of other families and companies? What interactions do values generate within a company, and between the company and the people who work for it? And, of course, most importantly, how can values be influenced, implemented and passed on to the next generation?