The “Wise Growth” Strategy
As shown in the preceding chapter, most successors attempt to achieve recognition as fast as possible, and they focus on business strategies before having transitioned through a development process as described earlier. The best practices learned from the award-winning family businesses highlight that business growth should be wisely constructed on the achievements, values and traditions of previous generations. Growth should not be undertaken at any cost. Evolutionary “wise growth” is more effective for family businesses than revolutionary growth. This is particularly true for those that are mindful of their traditions.
KeywordsFamily Business Growth Strategy Business Growth Award Winner Unrelated Diversification
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