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Market-Based Solutions to Vital Economic Issues
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Shared Vision and Effective Next-Generation Leaders: Two Sides of the Same Coin

Abstract

A survey of family business owners conducted a number of years ago by John Ward, co-founder of The Family Business Consulting Group, found that lack of a shared vision for the family business and weak next-generation leadership were two of the top three threats to long-term family firm success. John’s finding was one of the inspirations for my own research on developing next-generation leadership talent in family businesses. In my study of several hundred family firms, it turned out that those two factors were highly related. A shared vision for the family enterprise was strongly predictive of the presence of effective next-generation family leaders.


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