Effective communication is the cornerstone of success for family firms, playing a pivotal role in fostering and building cohesion, trust, and sustainable growth within the business. In the unique context of family businesses, clear and open communication becomes even more critical. It serves as the linchpin for navigating complex dynamics, resolving conflicts, and ensuring that shared values and goals are effectively transmitted across generations.
We asked our Global Family Business Think Tank Panel if they thought that getting communication right in family firms is one of the biggest issues when preparing to succeed as a family business for generations to come.
The Results:
Is Getting Communication Right In Family Firms One Of The Biggest Issues?
Yes - 91%
No - 6%
Don't Know - 3%