Balancing the sensitive and intricate aspects of running a family business is extremely difficult. For some, the expectation of involving family members in different capacities is a given and for those on the outside there can appear to be a certain level of nepotism. Perhaps that comes with the territory of trying to create, grow… [Read the full article]
Latest Thinking
The Potential Pitfalls of Global-Localization
As I have discussed at great length in other articles, a company’s ability to produce locally focused products and services is often a key to its success. Multinationals know this, which is why for decades, global companies have worked to achieve a local feel in each of the markets they operate in – a phenomenon… [Read the full article]
Seeking Out Win-Win Partnerships
Since the turn of the century, THP has become one of Vietnam’s leading private-sector companies. It has successfully ridden the wave of rising domestic consumption at home and taken its first steps to export abroad. This fast growth should continue, given that disposable incomes are still on a very sharp upward curve. GDP per capita… [Read the full article]
How Entrepreneurs Change the World – And Your Business
The health of an economy at the local and national level has always relied on entrepreneurial activity and growth. Entrepreneurs, after all, have the power to grow business ideas into successful companies, creating new jobs in the process. Many of the global Fortune 500 entities were once an entrepreneurial dream and small business. Inc.com published… [Read the full article]
Why Focusing on Local Wins
Statistics show that while people embrace the benefits of globalization, they also want to preserve their identities and traditions. The world may be flatter, but that does not mean globalization is making everyone the same. Local traditions are becoming more important, not less. In Western countries, the wheel really has come full circle. In the… [Read the full article]
Why It’s So Important To Take Responsibility
One of the things my father loved to say to our mother was, “We’re bringing up children not chickens. They have to learn to stand on their own two feet.” One of the most important lessons we were taught growing up was that only by learning to manage ourselves and take responsibility can we hope… [Read the full article]
How to Decide Whether Your Company Should Take a Buyout
The situation will occur—it almost always does for a company that has found an effective way to deliver the right product to the right customers in the right way. Those are the companies that have connected with their market in a personal way and as a result have been successful, yielding greater growth. That growth… [Read the full article]
The Importance of Making A Family Company Truly Part of The Family
While it is vital to implement clear boundaries for family members that operate a business together, it is just as important for the business to be an integral part of the family its values. Naming each member involved in your business is the easy part. Explaining how they should all interact with each other, and… [Read the full article]
Four Qualitative Attributes Needed for An Enduring Family Business
Ensuring that any business thrives long-term is a challenge, add the inevitable struggles that come with family, and suddenly, the reality of creating an enduring business becomes daunting. It is doable, however. Some of the largest, most successful, multinational firms are family-owned. How are these companies able to sustain this success despite rising generations, ever-changing… [Read the full article]
The Importance of Localized Promotion Around the Globe
Globalization can sometimes get a bad reputation. It’s often blamed for the eradication of culture that thrived before the internet and accessible international travel. However, our ability to interact and participate with one another is not something to regret. Instead, globalization needs a different slant. Perhaps its benefits are best realized when participants stay genuinely… [Read the full article]
