Many times I feel like I am on a loop. Each family business I visit keeps telling me the same things. They keep repeating the huge problems they have with staff and their attitudes and their production levels.....and I keep repeating the same thing. In general staff respond to the culture you create in your …
Author: Silvan Mifsud
Why is Succession Planning so difficult?
Last week, during the Family Business Seminar organised by the Family Business Committee within the Malta Chamber, it was abundantly clear that the vast majority of family businesses do not have a written succession plan. Why is this so? Well, like always in life there are a number of reasons for this, which I feel, …
Thank You!
I wanted to thank you, for your presence during the event held for family businesses on Wednesday 1st February. I hope that all of you that attended, found the event as being insightful and inspiring. I am reproducing below the speech I delivered during the presentation of the survey results:- You can consider this as …
Transforming Family Businesses
Family businesses share two things in common – they come from entrepreneurial roots and have a long-term orientation. However,an increasingly volatile business environment is putting them to the test. Today’s family firms have to deal with multiple challenges in a rapidly changing business landscape. Above all these challenges is the spectre of succession which always …
Are the younger generation really that difficult?
Last week I attended an interesting day seminar, where the subject of younger employees (Gen Z born from approximately from 1995 onwards) was brought up. Some believe that they are difficult to handle as they are not used to being given orders and they just have them executed without asking questions. However, I wonder if …
Continue reading Are the younger generation really that difficult?
Customer Priorities ARE Changing
Customers' priorities are changing...fast. This means that businesses need to identify new and different strategies that can help it navigate their customers’ shifting priorities. Global research is indicating various trends as to how customers are likely to be shifting their priorities, I will list some of them below:- More and more customers are interested on …
The First Step is Good Governance
All the changes, shaping up, adaptations, improvements that need to happen in a family business or SME, need to rely on good governance to stand a chance of actually happening and being done right. There are those who believe that in small businesses or in family business, governance can be formal or informal. The reasoning …
The only constant is CHANGE
In my daily discussions with various business owners I often discuss the difficulty of dealing with change. Some business owners and leaders find huge difficulty and resistance when implementing change in their companies. Other businesses have a deeper entrenched problem - resistance to change is coming from the top brass. I see many businesses, including …
Business Reality Check
As you know by now, I am a family business advisor. Dealing with Family businesses and SMEs has led me to understand both the strengths and weaknesses of such businesses. With all this experience in mind and with a deep understanding of the challenges and opportunities ahead, our team at EMCS together with AIS Environment …
The Need to Retain Older Employees
The world’s population is now 8 billion. In the coming decades, the world population is set to rise at a slower rate. More and more countries have started seeing population declines. In fact, more than 60% of the world’s population now lives in a country with a low fertility rate. These diverse trends — population …
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