The Whats and Hows of Success in Family Business
A team within the DCU Centre for Family Business was commissioned by Fingal County Council to complete this case study. The Family Business Report, Lessons in Resilience and Success: a Snapshot of Multi-generational Family Businesses in Fingal, Dublin was produced by Martina Brophy and Eric Clinton. Their study follows twelve family businesses which are all multi-generational, family-owned and head-quartered in Fingal. Through conducting interviews with these individuals they were able to distinguish needs, challenges and strengths that come with running a family business.
“Family businesses are a complex and highly resourceful business type. Knowledge, learnings, resources, values and traditions pass across generations of a family: often, what is found are strategic resources and capabilities that can make a family firm distinctive and competitively advantaged,” writes Dr. Eric Clinton in this study.
The report provides a snapshot of 12 multi-generational family businesses in Fingal with family involvement ranging from second to fourth generation. Between them they employ over 3,500 and have turnovers ranging from €1.5 million to in excess of €100m per annum.
Business & Finance, Ireland’s leading business magazine, have covered the topic in an article, Talent in Family Business. Dr. Eric Clinton, Director of the DCU Centre for Family Business, covers a variety of topics within the topic of family business from how much family should get involved to how important it is to become a cohesive team.
Families have an effect in the businesses day-to-day happenings whether it is positive or negative. Thus, through the Family Business study Clinton and Brophy come together and provide information and recommendations on how to run a successful family run business.
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