maria i. marshall renee wiatt - purdue agriculture...foundation for a successful family business •...
TRANSCRIPT
MariaI.MarshallReneeWiatt
Foundationforasuccessfulfamilybusiness
• Keepthebusinessstrongenoughandhealthyenoughtolastintothenextgeneration.• Continueahealthyfamilyintothenextgeneration.
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SuccessfulFamilyBusinesses• Sharedvalues• Sharedpower• Tradition• Awillingnesstolearnandgrow• Strongfamilyties
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0% 10% 20% 30% 40% 50% 60%
Never
Hardlyever
Someofthetime
Mostofthetime
Allofthetime
Question1:Howoftenareyousatisfiedthatyoucanturntopeopleathomeandworkforhelpwhensomethingistroublingyou?
QOM
FBSS
0% 10% 20% 30% 40% 50% 60%
Never
Hardlyever
Someofthetime
Mostofthetime
Allofthetime
Question2:Howoftenareyousatisfiedthatothersinyourfamilyandbusinessacceptandsupportyourideasorthoughts?
QOM
FBSS
0% 10% 20% 30% 40% 50% 60%
Never
Hardlyever
Someofthetime
Mostofthetime
Allofthetime
Question3:Howoftenareyousatisfiedwiththewayothersinyourfamilyandbusinesssharetimetogether?
QOM
FBSS
0% 10% 20% 30% 40% 50% 60%
Never
Hardlyever
Someofthetime
Mostofthetime
Allofthetime
Question4:Howoftenareyousatisfiedwiththeoutcomewhenadecisionhastobemadeinfavorofwhatisbestforthefamilyversus
thefamilybusiness?
QOM
FBSS
Three-CircleModelofFamilyBusiness
Ownership
BusinessFamily
9Source: Renato Tagiuri and John Davis
FS1D1
GFGM
M
S2B
N
Partner
Competitiveadvantage:Culture
• Culture• Stronger• Sustainable• Describable
Culture• Familyfeel• Caring• Humility• Commitmenttocommunity• Values
CommunicatingValues
Why
How
What
CultureaffectsBusinessStrategy
BusinessStrategy
FamilyVision
FamilyValues
www.purdue.ag/piff
FamilyBusinessWorkshopMarch9-10th
