Managing for the Long Run

Emulates the success strategies of enduring family businesses. This book draws from a worldwide study of enduring, family-run organizations, to reveal their unconventional success strategies and how these strategies can be adopted and applied in any organization.

Autorentext
Danny Miller is a Professor of Strategy at HEC Montreal and Chair in Family Enterprise & Strategy at the University of Alberta. Isabelle Le Breton-Miller is a human resources consultant and Senior Research Associate at the Center for Entrepreneurship and Family Enterprise at the University of Alberta.

Klappentext
Fidelity, Hallmark, Michelin, and Wal-Mart are renowned industry power-houses with long leadership track records. Yet these celebrated companies are united by another factor not generally equated with competitive success: They are all family-controlled businesses. While many view the hallmarks of family businesses--stable strategies, clan cultures, and unencumbered family ownership--as weaknesses, Danny Miller and Isabelle Le Breton-Miller argue that it is these very characteristics that create formidable competitive advantages for many such firms. Managing for the Long Run draws from a worldwide study of enduring, family-run organizations--including Cargill, Timken, L.L. Bean, The New York Times, and IKEA--to reveal their unconventional success strategies and how these strategies can be adopted and applied in any organization. Miller and Le Breton-Miller show how four driving passions of family-run firms--command, continuity, community, and connection--give rise to a set of practices that defy modern management thinking yet ensure a company's long term competitive advantage. Outlining how these practices can enhance strategic efforts from operations to brand leadership to innovation, this book shows what every company must do to manage for the long run.

Zusammenfassung
Conventional thinking holds that family-controlled businesses are beset by inherent weaknesses from "clan" cultures to stable ownership that hobble success and erode competitive advantage. This book argues that those very traits are part of what has ensured the sustained success of some of the world's leading and long-lived family controlled businesses. This is not a book for "mom and pop" family businesses. Rather, it is for firms of all kinds and sizes who want to emulate the strategies of the best family-controlled businesses for long term success.

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