TECHNOLOGICAL ADVANCES and globalization are creating change at an unprecedented pace, quickly and fundamentally transforming business environments along with the rest of society. How hard is it for families in business to capitalize on opportunities in a world that are constantly changing shape?
Conventional wisdom holds that family businesses have a long-term view, often rooted in shared values, vision, and culture. They are also known to be flexible, able to adapt to events as they happen, and resilient in turbulent times. Armed with these characteristics, family businesses have continued to play a major role in the global economy even as disruption has transformed nearly every dimension of the marketplace.
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