"If you don’t transform the family, you won’t transform the family business either."
Family businesses are the backbone of the German economy: there are around 3 million of them. One in three companies with revenue exceeding 50 million euros is a family business. In many ways, they “tick” differently than conglomerates or private equity-financed companies. But almost all family businesses are also feeling the current pressure to transform.
“If you don’t transform the family, you won’t transform the family business either,” believes experienced family business consultant Konrad Fröhlich. The reason: Any fundamental change in the company often has consequences for the family, its assets, or its standing in society.
In this episode of SMP Leading in Transformation, Konrad Fröhlich offers many tips for transformation projects specifically in family businesses—from helpful committees and mindful communication to resolving real power issues.
*Video only in German
