Family Values and Business Culture
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
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