Companies across the economic spectrum have increasingly been engaged in a rethink about what drives them beyond making a profit. Many family businesses had a head-start on this. At one point or another, every family business leader has grappled with the question of purpose.
The global pandemic has shaken businesses to their core, in many cases disrupting relationships with employees, customers, suppliers, communities, and other key stakeholders. Amidst this upheaval, family business leaders are looking for ways to reconnect with these constituents in more meaningful ways. And that search has them thinking anew about the intersection of purpose and trust. Read this second article in our Resilient Family Enterprise series.
No company can avoid the imperative to change in reaction to the coronavirus pandemic. The goal is to come out of this period with a strategy that will help us thrive in the next normal, navigating uncertainty and change together.