Futuribles Journal n° 397

Économie, emploi - Entreprises, travail

The Resilience of Family Businesses


Will the economic crisis, which for more than five years now has buffeted Europe, have taught us anything of value to the managers and directors of companies? This is difficult to assess on the ground right now, but a number of recent studies provide some very interesting hints on what has enabled a number of companies to remain afloat despite the current business environment. André-Yves Portnoff has analysed these studies for Futuribles and his findings are unequivocal: family businesses with “patient” capital which their directors manage on a long-term basis (without being constantly focussed on quarterly financial returns and without pressure from external shareholders), while at the same time looking after their human resources and showing a will to innovate and an ability to take quick decisions when the situation requires it, are the most resilient. They are the ones that have held up best in recent years, if not indeed maintained or increased their growth. This demonstrates the practical advantage of adopting a long-term management perspective, which makes survival possible, rather than a short-termist view driven by stock-market diktat.

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