A View from Blue Grotto

Monday, September 25, 2006

Family businesses leverage mission, values

Harvard Business School’s weekly newsletter on best practices – Working Knowledge – has become a much-used resource for us at Blue Grotto. I forward articles weekly to clients, colleagues and friends. It’s loaded with current business research, links to their most popular stories and Faculty Q&A. And the best part – it’s free, so, you, too, can sign up and receive the weekly updates.

The link I am including today is to a February 14, 2005 article, http://hbswk.hbs.edu/archive/4633.html Leveraging the Mission in Family Business, excerpted from the book Managing for the Long Run: Lessons in Competitive Advantage from Great Family Businesses.

Authors Danny Miller and Isabelle Le Breton-Miller, from the University of Alberta, discuss what their research shows to be four priorities of Family-Controlled Businesses. Along with the excerpt, they include a visual overview of the priorities cross-referenced with best practices and a series of footnotes with additional resources for information on how family businesses leverage their values.

Most experts agree: family businesses lead the corporate world in categories such as long-term profitability, employee loyalty, and shareholder value.

Blue Grotto wrote an article for Family Business Magazine (see our Resources Page on http://www.bluegrottoinc.com), to help illustrate the unique role that family businesses play in today’s economy. In it, we articulate how documenting your company’s history and culture helps to define the core ideas, values and strengths that have contributed to—and will remain a basis for—your organization’s continued success.

Has your company reached a special milestone? We’d like to hear how you celebrated an extended period of success. The stories of your business’ growth have the power to inspire, excite and support those who are vital to your purpose. And others can learn from your experience.

Email me with your comments on how your organization leverages your mission or history.
President, Blue Grotto Inc.