Secrets of Successful Enterprising Families

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Entrepreneurs in Every Generation: How Successful Family Businesses Develop Their Next Leaders is a seven-chapter book published by Berrett-Koehler Publisher in 2016. Entrepreneurs in Every Generation shows readers how success in family business means assuring next generation entrepreneurial leadership in three dimensions: the business, the owning family, and the organization that nurtures both. Applying the entrepreneurial mind-set to all three dimensions, professors Allan Cohen and Pramodita Sharma define the challenges and the role for leadership; applying the entrepreneurial mind-set in all three dimensions is what sets family enterprises apart. The book not only reviews best practices, but it also urges special attention to the uniqueness of context. It also guides the reader through work sheets on how to understand and adapt to context. In Chapter 3 (25 pages), Cohen and Sharma argue that success over time for a family business must satisfy two conditions. First, the family must persist, and second, the business must continue. For the former to happen, a meaningful involvement of the controlling family in business is critical for its continuity as a family business. For the latter to happen, the products and services offered must continue to evolve to meet the needs of changing markets.
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