Family business values to build long lasting success
Family businesses that have a clear sense of company values tend to have a positive impact on employee loyalty, competitive advantages, and business sustainability. This is because the firms embed a can-do attitude and a long-term commitment that everybody is pitching in. Speaking about value, Thai executives defined it as the values of the family that owns the business define clear expectations for family members; their organisations have a defined code of conduct, and they’re committed to and adhere to Corporate Social Responsibility.
Meanwhile, APEC executives defined value as having a clear sense of agreed values and purpose as a company, committed to and adhering to Corporate Social Responsibility, and the family that owns the business has a clear set of family values.
It is obvious that family businesses that make values patent and assessable, and integrate them into business strategies, everyday practices and operations, would get better performance and greater business success.
Contact us
Sinsiri Thangsombat
Entrepreneurial and Private Business Leader, Assurance Partner, PwC Thailand
Tel: +66 (0) 2844 1000
