Great family enterprises evolve a governance Consumer Mobile Number Database structure which often leads to both greater business performance AND greater family unity. 4. Family Involvement: The degree to which family members actively participate in the family Consumer Mobile Number Database enterprise is also indicative of greatness. Participation can be as a business leader, shareholder, board member, employee or even simply a proud owner. Great family businesses demonstrate a high level of family member involvement be it in the business, on the Consumer Mobile Number Database board, or simply as active and committed owners.
Owners of great family businesses do not simply hold a share certificate and expect dividends; they are aware of the responsibilities that come with ownership and feel a certain amount of "psychological ownership" of this asset-it is NOT Consumer Mobile Number Database another investment holding. 5. Conservative Money Management: Long-lasting family enterprises demonstrate a remarkably low level of debt to operate and grow the business. Once a family business gets past its start-up phase, great family-owned companies are very careful of how leveraged they become. Most Consumer Mobile Number Database plow funds generated from the business back into the business, opting for building the business over excessive distributions. In addition, great family enterprises are patient Consumer Mobile Number Database with their capital, willing to wait and be more deliberate in achieving a return. 6.
Effective Paradox Management: Family Consumer Mobile Number Database enterprises are full of paradoxes or polarities that need to be managed, such as merit-base pay versus family member perks or acceptance of family members versus need to Consumer Mobile Number Database challenge family members. According to Greg Page, President and CEO of giant family firm Cargill: "In this world full of paradoxes, companies that manage paradoxes well out-perform companies that don't." Great enterprising families are able to walk along the Consumer Mobile Number Database precipice and effectively balance the dual forces of "Family First" and "Business First",rsacrificing one for the other.