Tag Archives: vision

12/10/16

Authentic Leadership–Suggested Holiday Reading

Over the past month I have found myself recommending Warren Bennis’ book, On Becoming a Leader, to a number of people. Bennis, who passed away in 2014, was a prolific writer on leadership and, according to management guru Peter Drucker, this is Bennis’ most important book. I find it intriguing that I am now recommending it so often.

As per Bennis, ingredients of leadership include vision, passion, integrity, self-knowledge, constant learning, curiosity… even daring. Bennis writes: “Good leaders engage the world. Bad leaders entrap it, or try.”1

One of Bennis’ most popular quotes illustrates his perspective on how leaders can be creative: “There are two ways of being creative. One can sing and dance. Or one can create an environment in which singers and dancers flourish.” Visit Freedom Inc. to hear Mr. Bennis expand on this quote in a video interview.

In the ideas he set forth in this book, originally published in 1989 now a classic, Bennis lays a foundation for authenticity and personal ethics in leadership.

Since a capacity to develop leadership qualities in all family members is characteristic of family businesses, I strongly suggest On Becoming a Leader as productive holiday reading for all. It’s on my list to re-read in 2017.

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1.Warren Bennis, Becoming a Leader (Basic Books, 2009), 38

04/2/16

Pulled Into the Future

The leadership, vision and entrepreneurial talent of the founding generation of a family business may be very different than that needed in subsequent generations; and installing a successor who is a copy of the founder may result in the failure of the business to change with an evolving market environment or the growing needs of a larger business.

For example, the business may now have more need of leaders who develop collaborative relationships than those who get things done by themselves, or of strategists who find new opportunities as the size of the family grows.

“Respect the past while keeping an eye on the future.” This important family-business axiom, together with a phrase I read twenty years ago in “Breaking Point and Beyond: Mastering the Future Today by George Land and Beth Jarman—“allow yourself to be pulled by the future”–are potent strategies for expansion and growth.

11/14/15

Developmental Stages of Multi-Generational Family Businesses

A few weeks ago I had the pleasure of hearing Lena Jungell, a fourth-generation member of The Fazer Group, speak at the Fall 2015, Global Family Business Event hosted by the Baruch College, Lawrence N. Field Center for Entrepreneurship.

In her talk, Ms. Jungell presented elements essential for the growth and sustainability of a multi-generational family business. In my last two newsletters I touched on three of these: Vision, Values and Mission.

Ms. Jungell presented a fourth critical element–outlining the developmental stages of her family and its business across generations:

  • First generation: Built the business
  • Second Generation: Lived with and worked in the business
  • Third Generation: Worked in the business and established business-governance structures
  • Fourth Generation: Developed family-governance structures
  • Fifth Generation: Learned the business- and family-governance structures
  • Sixth Generation: Is already participating in the business while the fifth generation governs.

This pattern is fairly typical of family-business succession. I believe it is representative of a business that successfully evolves into a multi-generational enterprise without an initial intention to do so. Recognizing the pattern can facilitate the growth of any business family interested in multi-generational success.

11/7/15

Values, Vision, Mission: The Bedrock of Family Businesses – A Real-Life illustration

Last week I wrote about having attended the Fall 2015, Global Family Business Event hosted by the Lawrence N. Field Center for Entrepreneurship at Baruch College, where I heard a talk by Lena Jungell, a fourth-generation member of The Fazer Group.

An international, family-owned-and-run firm based in Finland, The Fazer Group proudly produces top-of-the-line bakery, confectionery and biscuit products as well as food and café services

Lena spoke about one of the essential components of family-business success and longevity, “The Development of an Owners’ Vision” Today I will write about two other equally important components–values and mission.

Microsoft Word - Document2To clarify what I mean by these three terms: Your vision is something you can see as a result of your efforts. Your mission identifies the action of achieving the vision. Values are those qualities, behaviors and points of view that a family holds to and deems important for the guidance of its members and its business.

In working to fulfill its mission —To Create Taste Sensations–guided by its vision–responsible business growth with a strong focus on long-term development–the Fazer Group stands firm on the bedrock of its values: Passion for the Customer; Quality Excellence, and Team Spirit. http://www.fazergroup.com/about-us/we-create-taste-sensations/

These values are the basis of all of their corporate strategy processes, ethical principles, responsible environmental standards, management systems and more. http://www.fazergroup.com/responsibility/our-responsibility/

This solid footing along with open articulation of their values is, no doubt, integral to the Fazer Group’s success as a thriving and growing sixth-generation family business looking into a prosperous future. As such, The Fazer Groups is a real-life illustration that demonstrates the long-term possibilities inherent in family businesses.

Next week I’ll write about the evolution of the Fazer-Group from its first generation into its sixth, and explore its business- and family-governance structures.