Transmitting family values is something simple, the difficult thing is to build them, because today up to five different generations coexist in business families, with ideas and expectations that do not always coincide. For example, María, a member of the 3rd generation of a family business, asked me: Should I continue to be part of the family business that produces plastic and pollutes the environment, when it is not in my principles, but at the same time it is my livelihood and equity?
Answering this question is not easy, so I propose the following distinctions to build and communicate values between generations in a business family. The values of the business family are not the same as those of the family. The family in its nuclear relationship as spouses, grandparents, brothers or cousins have shaped values immersed in the family culture. However, in the business family the type of relationship changes. Not only is it a relationship between husbands or siblings, but it is also a relationship of owners or future owners and therefore the values are not exactly the same. For example, a friend in his relationship with his wife as a partner and owner has established the value of creativity as fundamental, however in their marital relationship this is not a relevant value. So the first thing that a business family must do is define jointly what are those values that as owners unite them to continue working together. The values of the business family should take the best of the family’s history but at the same time guide its future . The values are not static, they change over time. In fact, the great challenge for business families is to incorporate the values of the new generations and leave behind the values that are no longer relevant. For example, gender equality or respect for the diversity of beliefs are values that every time I have seen that business families are incorporating into their set of values. Defining the new values, reviewing which are current and which are not, represents a valuable opportunity to reconcile the different generational perspectives. The values of the business family must serve to make important decisions. Many business families define their values as part of their guiding philosophy, they establish them in the family protocol, but they are sometimes a dead letter. In other words, when push comes to shove, when important decisions must be made that represent an ethical dilemma for the business family, they are not taken into account or reviewed. A review of values should be made in concrete situations and not just in the abstract. For example, a business family had to make the decision to separate from their position or not a member of the family, very successful in the commercial field that had made the company grow in double digits, but with proven practices of abuse of power, in light of the It is important to mention that a value of this business family was respect for the dignity of people, so the family council, after reflecting, looking at their values and the future of the business family, made the decision, painful for them , to separate the family member from his position. Living the values and using them in a practical way are an opportunity to maintain the prestige and future of the business family. The values of the business family must be shared and built with creative forms of communication. Sharing the values, so that they are really lived by the members of the business family, can only be done through creative ways. Among them are the stories, narratives or sayings that are passed from one generation to another. Setting an example and building teacher-apprentice relationships is another great way to do this. Making books and comics, inventing characters, or making videos, tik-toks or even becoming youtubers are ways that business families use or can use to share values and connect with family members since they are children. Business families must be open to questioning their values and have spaces where concerns can be expressed. Therefore, María must ask the question of her business family and solve the dilemma together, because the answer to that question could define the future and enhance the value of the family business. A wise business family is one that promotes constructive dialogue among its members, where values are key to transcendence, fundamental not only for companies to be successful but also for business families to be harmonious, full and happy. Fernando Sandoval A. fsandoval@tec.mx Academic Director of the Institute of Business Families for Mexico and Latin America of the Tecnológico de Monterrey
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