European CEO

European CEO

April 08, 2016 11:00 ET

European CEO: Family Businesses and the Ties That Bind

LONDON, UNITED KINGDOM--(Marketwired - April 8, 2016) - The family business is a tried and tested model, and has shown itself to be stable in times of economic hardship. However, the close bond between family members can quickly turn sour. The latest issue of European CEO delves into one of the strongest institutions of all - the family, exploring what makes it a recipe for both success and conflict.

According to the European CEO report, family bonds can make for a formidable force in business, and, together with the embedded goal of longevity, represent a proven formula for success. Relations in business often go above and beyond the normal call of duty when it comes to individual responsibilities, and a strong family tie can inspire commitment and dedication that other relationships simply cannot. Unfortunately, family feuds and rivalries are par for the course, and history is littered with examples of how family ties can be as much a curse as a blessing.

Speaking to European CEO, Nicolas Kachaner, Senior Partner at BCG, said: "If you look at what keeps the CEO of a family business awake at night, their fear is to harm or destroy what they have created or inherited. So, they will always think about the long-term prosperity of the company, not the short-term performance." In short, a corporate environment can benefit from the values that accompany family-run businesses.

The challenges come when the issue of pride or entitlement spills over into everyday proceedings, and many a company has suffered the ill effects of tensions shared between family members. The European CEO report looks at how best to avoid these challenges and pours over some of Europe's best-known success stories.

Also in the new issue of European CEO are features looking into the crisis unfolding in Europe's steel industry, the continent's lesser-known demographic crisis and Paul Polman's commitment to environmental and social good at Unilever.

For coverage of the issues affecting business in Europe, the latest European CEO is available to read now in print and online.

http://www.europeanceo.com/

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