One of the things that impressed me from EY's attractiveness survey from 2024 was the following. The below shows that the top 3 reactions of FDI companies in Malta to make up for the tight labour market, was increasing wages, recruiting more people and recruiting third country nationals. I believe such response is because most …
Continue reading The Effect of Short Termism – Strategic Myopia
For those that read this Blog regularly, you know how much I keep harping on the importance of business leaders to have a strategic mindset. For Business Leaders not to be stuck dealing just with all those matters that are 'URGENT & IMPORTANT" but also those matters that are "IMPORTANT but not immediately URGENT". This …
This week we started the 2nd cohort of the Award in leading a Family Business Course. In the first lesson we outlined the usefulness of one of the core models in setting the right mindset for family businesses - The Three Circle Model by Taguiri and Davis During this first session I presented the participants …
I must say that being a family business advisor has taught me so much as to how to go about conquering insurmountable challenges and trying to help deliver win-win solutions, which are sustainable for the longer term and deliver value. So below are a few of the things I learnt to expect from most family …
Culture change is hard. The conventional wisdom is that it takes years to change a culture, defined as the assumed beliefs and norms that govern “the way we do things around here.” This may be true. However in most family businesses and business organisations I meet, few if ever come to realise that it is …
I must say that I never get tired or bored reading research on succession planning in family business. Succession is the main challenge for Family businesses for various reasons, including the need to address the question of transfer between generations, this being an adjustment of the mutual function between founder and the next generation of …
Conflict is part of the human condition. Therefore, it is neither negative nor positive, but rather a natural phenomena (Espinoza, 2011). The negative connotations traditionally attributed to conflict are at odds with current theories that explain the use of the term as an engine of change and generator of competitive advantage. Such consequences can only …
I was recently in Billund Denmark and visited the so called LEGO house and could read and learn about the LEGO business - yes a family business! LEGO knows its origins to Ole Kirk Kristiansen who hasda carpentry business that by the end of the 1920s, due to the Great depression, was suffering and ultimately …
It is heart breaking when I meet family businesses that suffer because the next generation was ill prepared to lead the family business. Family business should give priority to well prepare their next generations as potential successors for operational or board roles within the family business. Educating the next generation on family business matters is …
Continue reading The Importance of Educating the Next Generation
As Simon Sinek rightly puts it, “A team is not a group of people who work together. A team is a group of people who trust each other." So the question every business leader should be asking is "How do I make sure that I build a trusting team?" What I find mind boggling is …
A Business Blog for SMEs & Family Businesses 