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Toolbox—A Process for Moving from Family Identity to Family Business Brand

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Abstract

“Be true to yourself!” emphasized Dr Francis Yeoh, third-generation leader of YTL Corporation Berhad. “Having been around long enough qualifies me to say this: individuals who have a strong sense of identity and who are guided with a strong moral compass, who know their strengths and who are true to themselves, are very often the happiest and most secure people.

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Notes

  1. 1.

    Tan Sri (Dr.) F. Yeoh, ‘Be true to yourself’, Speech at the Graduation and Awards Ceremony at Garden International School Kuala Lumpur, 27 June 2008, http://www.ytlcommunity.com/common/printerfriendly.asp?section=1&fileid=39051, data accessed 15 July 2015.

  2. 2.

    The World Bank—Data 2004–2014, ‘Doing Business’, http://data.worldbank.org/data-catalog/doing-business-database, data accessed on 15 July 2015.

  3. 3.

    Clinton Devon Estates (2011), ‘How family firms survive and thrive—Talking about our generations’; Countryside matters—the Clinton Devon Estates Review, 2011.

  4. 4.

    The official website of The British Monarchy, ‘The Queen’s Award for Enterprise’, http://www.royal.gov.uk/MonarchUK/Prizesandawards/QueensAwardforEnterprise.aspx, data accessed on 30 July 2015.

  5. 5.

    I. Michla, Familiensinn verpflichtet‘; Die Welt; 25 September 2009.

  6. 6.

    Miele & Cie. KG company website, ‘About Miele’, www.miele.com, data accessed on 10 February 2014.

  7. 7.

    Miele & Cie.KG company website, ‘About Miele’, http://www.miele.com/en/com/miele-awards-2885.htm, data accessed on 09 September 2015.

  8. 8.

    Miele & Cie.KG company website, ‘About Miele’, http://www.miele.com/en/com/miele-awards-2885.htm, data accessed on 09 September 2015.

  9. 9.

    Millward Brown defines a brand’s personality as the way a brand expresses and represents itself. To reduce a vast range of brand personalities to a manageable number of well-defined and recognizable characters, it has identified a set of 24 adjectives to cover a wide range of personality characteristics and then assign each brand to one of ten archetypes according to its dominant character [14].

  10. 10.

    Interview with the author, 16 June 2015.

  11. 11.

    Franz Haniel & Cie. GmbH company website, ‘Family Equity’, company profile, http://www.haniel.com/en/company/profile/family-equity/, data accessed on 15 July 2015.

  12. 12.

    Franz Haniel & Cie. GmbH company website, enkelfähig, http://www.haniel.com/en/enkelfaehig/, data accessed on 10 July 2015.

  13. 13.

    Wikipedia: “Hidden champions are relatively small but highly successful companies that are concealed behind a curtain of inconspicuousness, invisibility, and sometimes secrecy. The term ‘Hidden Champions’ was coined by Hermann Simon. According to his definition, a company must meet three criteria to be considered a hidden champion: Be number one, two, or three in the global market, or number one on the company’s continent, determined by market share. Achieve revenue below $4 billion and be on a low level of public awareness.” https://en.wikipedia.org/wiki/Hidden_champions, data accessed on 15 July 2015.

  14. 14.

    Franz Haniel & Cie. GmbH company website, ‘Awards’, http://www.haniel.de/en/company/news/awards/enkelfaehig, data accessed on 15 July 2015.

  15. 15.

    Bacardi company website, ‘About Us’, http://www.bacardilimited.com/our-company/about-us, data accessed on 10 July 2015.

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Schwass, J., Glemser, AC. (2016). Toolbox—A Process for Moving from Family Identity to Family Business Brand. In: Wise Family Business. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-58600-1_7

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