Post by account_disabled on Mar 12, 2024 2:16:47 GMT -5
Family businesses have existed for centuries, several of them have remained small businesses but many others have grown and become corporate groups. In Mexico, the family businesses that stand out the most are Grupo Bimbo, Televisa, Cemex and Comercial Mexicana, which have been around for many years.
However, the oldest family business in the world is located in Japan and is the Nishiyama Onsen Keiunkan, a hot spring spa hotel that was founded in 705 AD by Fujiwara Mahito. This hotel is part of a group called Shinise , which also includes other family businesses that have been in business for centuries. According to them, the key to their success is due to three reasons:
1. They care more about the well-being of their employees than that of their shareholders.
2. They find a stable industry and apply flexibility.
3. They are dedicated to service, focusing on the community where they work and live.
old family businesses
With these examples, it is easy to affirm that Czech Republic Mobile Number List companies started and sustained generation after generation owe their successes to the fact that they concentrate on other goals beyond economic performance.
Why are family businesses more responsible?
Family businesses are more resilient and their objectives are long-term, with an investment horizon of 20 to 30 years, The Guardian reports . Why does this happen? Because unlike many clumsy Western managers, when there is excess returns, Eastern managers prefer to save it in case the company falls on hard times later. This capital can even be invested in sustainable development strategies that, for many industries, still seem like luxury or risky implementations.
When it comes to the workforce, it has been proven that family businesses retain their employees better. On average, family businesses turn over staff at 9% while other companies do so at rates higher than 11%. A study published in Harvard Business Review comments that this is because families create bonds of trust, commit to providing constant training to their workers, have clearer purposes and build closer relationships with staff and shareholders. In short, they adopt social responsibility de facto... not as a mere recognition.
However, the oldest family business in the world is located in Japan and is the Nishiyama Onsen Keiunkan, a hot spring spa hotel that was founded in 705 AD by Fujiwara Mahito. This hotel is part of a group called Shinise , which also includes other family businesses that have been in business for centuries. According to them, the key to their success is due to three reasons:
1. They care more about the well-being of their employees than that of their shareholders.
2. They find a stable industry and apply flexibility.
3. They are dedicated to service, focusing on the community where they work and live.
old family businesses
With these examples, it is easy to affirm that Czech Republic Mobile Number List companies started and sustained generation after generation owe their successes to the fact that they concentrate on other goals beyond economic performance.
Why are family businesses more responsible?
Family businesses are more resilient and their objectives are long-term, with an investment horizon of 20 to 30 years, The Guardian reports . Why does this happen? Because unlike many clumsy Western managers, when there is excess returns, Eastern managers prefer to save it in case the company falls on hard times later. This capital can even be invested in sustainable development strategies that, for many industries, still seem like luxury or risky implementations.
When it comes to the workforce, it has been proven that family businesses retain their employees better. On average, family businesses turn over staff at 9% while other companies do so at rates higher than 11%. A study published in Harvard Business Review comments that this is because families create bonds of trust, commit to providing constant training to their workers, have clearer purposes and build closer relationships with staff and shareholders. In short, they adopt social responsibility de facto... not as a mere recognition.