David Bork is proud to have contributed the forward for the book, MAPS for Men: A Guide for Fathers and Sons and Family Businesses. New York Times best-selling author and nationally syndicated radio show host Dave Ramsey calls this important book “a must-have resource for any and every family business."
Top Ten Family Business Facts | Fact #2: The Cluster Model Helps Capture the Evolution of Your Family Business Over Time
Traditionally, family businesses are described as constituent of three overlapping circles: 1) the family, 2) the business, and 3) the ownership (Gersick, Davis, McCollom Hampton, & Lansberg, 1997; Tagiuri & Davis, 1996). Recently, Michael-Tsabari, Labaki, & Zachary (2014) suggested the Cluster Model to update the two and three-circle models by providing a more detailed picture of the circles’ evolution over time.
Traditions are important in every family, and also within a family business. Traditions help keep a family bonded together. The most successful family businesses adhere to old traditions, and modernize traditions when the family sees fits. Traditions give a family business a sense of stability and they allow for a reason and setting to reminisce about the founders of the company.
It's important that the family members running a business have similar family business values. The real security of family business is knowledge that the family has the same core values, and that in good times as well as challenging times, every member of the family is committed to working together in the best interest of the business.