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Sharing Wisdom, Building ValuesDifficult Times

Sharing Wisdom, Building Values: Difficult Times [The family letters and the business descriptions in this book might, at first read, give the impression that each of these companies has known only success. But this is far from the truth. Life in family business is not always easy. And not always triumphal. Over 60 percent of all family businesses never make it to the second generation. So it should come as no surprise that many of the companies in Sharing Wisdom, Building Values have been through very rough times. The Strauss family, for instance, has come close to bankruptcy several times. Despite its close calls, Strauss Dairies always pulled through. What ensured their success after years of struggle? Persistence. They simply never gave up. They had faith in their business.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Sharing Wisdom, Building ValuesDifficult Times

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Publisher
Palgrave Macmillan US
Copyright
© Palgrave Macmillan, a division of Nature America Inc. 2011
ISBN
978-1-349-58468-0
Pages
117 –131
DOI
10.1057/9780230116207_9
Publisher site
See Chapter on Publisher Site

Abstract

[The family letters and the business descriptions in this book might, at first read, give the impression that each of these companies has known only success. But this is far from the truth. Life in family business is not always easy. And not always triumphal. Over 60 percent of all family businesses never make it to the second generation. So it should come as no surprise that many of the companies in Sharing Wisdom, Building Values have been through very rough times. The Strauss family, for instance, has come close to bankruptcy several times. Despite its close calls, Strauss Dairies always pulled through. What ensured their success after years of struggle? Persistence. They simply never gave up. They had faith in their business.]

Published: Feb 17, 2016

Keywords: Family Firm; Family Business; Difficult Time; Family Letter; Life Choice

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