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The following article was published in our article directory on June 7, 2017.
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Leadership Development Strategies In A Family Business

Article Category: Leadership

Author Name: Dawn Manning

When working in a family business, learning how to define leadership strategies can be difficult.

Family ties can often supersede skills and leadership ability. Resistance to change between generations can cause conflict, and the desires for each generation to make the family prosper can seem at odds with one another.

The current senior generation may be focused on maximizing income - to finance their long awaited retirement, while the successors may see the critical need for building the business through reinvestment. How to define leadership strategies then, is often in the eyes of the beholder.

Each generation has its own brand of cultural relevancy. Each generation has the ability to update or enforce the relevancy within a business.

It's easy to see then the importance of communication to consider alternatives - ways in which the needs of both generations can be met simultaneously.

And it's important for everyone to recognize that leadership can be found at all levels of this strategic leadership development cycle.

When each generation is learning and changing, they all have standards and desires that they seek to embrace. Combining these standards can lead to the strongest business possible. In an environment where several generations are working together, this can be seen through internal power struggles.

Each vested interest group within the business may very well define leadership differently, this is not a bad thing.

Having multiple generations in a business makes it hard, if not impossible, to pin down just one leader. Instead, each generation tends to have their own leader. These leaders then attempt to work together or against each other to change the direction of the business. In this way, each portion of the family is somewhat recognized.

Often this can work well, when everyone - generally speaking - sees the same picture of the future. When there is too much conflict, from misaligned goals, this can lead towards break downs in communication.

In order to lead a company, there needs to be a clear direction. Without this direction, companies and individuals will stay begin and stagnate to loose relevancy. At this point, a company must decide if they are willing to branch out in order to lead the business into the future.

Often times this is an extremely painful choice for each generation to make. The older generation may feel like they have failed the younger generation, whether they are willing to admit it or not, when teaching them how to lead.

The younger generation may feel like they have failed the older generation by not understanding them enough, often (once again) because of a lifetime of poor communication about what's really important - the long term future.

With these feelings, both sides may be loathe to look for or accept outside help. No one wants to share their embarrassment with an outsider, even if they know in their heart that it may save them.

Outside help can aid in incorporating the needs of everyone and allowing for a combination of leadership styles. This combination can lead to stronger leadership within the business that can then be passed down in a generational manner.

Getting this information from peers of each generation allows for cultural relevancy to be preserved as well.

These changes in leadership do not invalidate or destroy any previous leadership. Done properly, these will help the family company evolve into better leaders. Instead of only having access to one form of leadership, many forms can be forged together for the creation of a better leadership style.

Overall, the need to bring in outside help can be an extremely difficult decision. However, with care precautions, this decision can be rewarding and allow the business to prosper in a previously unknown way.

Forging ties between each generation and allowing for a true understanding to unite a family, and thus the family business, into a stronger entity.

In this way, everyone will be able to participate in and define leadership for the greater good of the family.

Each generation has its own brand of cultural relevancy. Each generation has the ability to update or enforce the relevancy within a business. When each generation is changing and learning, they all have standards and desires that they seek to embrace. In an environment where several generations are working together, this can be seen through internal power struggles.

Having multiple generations in a business makes it hard, if not impossible, to pin down just one leader.

Keywords: family business leadership development, leadership development strategy for family business,leadership development strategies, top leadership skills, 4 top leadership skills, leadership strategies, how to define leadership, what are leadership skills, leadership qualities list, leadership skills list, good leadership qualities

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