Differences between family entrepreneurs and their managers formed the focus of the
International Next Generation event organized by the
Family Business Network, an Egon Zehnder International Global Alliance Partner, held in Palermo in July 2011. Taking part in the event,
Duccio Alberti, a consultant at Egon Zehnder International, Milan, noted that although entrepreneurs and most managers often occupy similar roles, they may come from different backgrounds and have different levels of emotional commitment. In Alberti's view, however, both are still useful for the business community. One family business leader offered the following explanation: “For most employees and shareholders, the business is one part of an ever-shifting portfolio of life. But for many family owners, the business is most of what they have. It’s part of them and they breathe it and sleep it. The alignment with the business is extreme.” To maximize overall performance, Alberti urged family entrepreneurs to try to understand what motivates their managers and build relations built on trust.
More information:
Family businesses – best-in-class with minor flaws (10th International Executive Panel)Family Business Advisory
