The current issue of Family Business magazine includes an article about Luck Companies â€“ a family business Iâ€™ve advised â€“ and the companyâ€™s Values-Based Leadership program.
After working as a consultant to family businesses for 43 years, I believe values-based leadership is the next window of development in the whole family business arena.Â The values orientation ups the ante on the quality of behavior inside a family enterprise.Â When a company takes the time to define its core values, and the leadership and employees respect and hold those values, a positive shift in the company culture occurs.
Values can then affect financial performance. Says Luck Companies CEO Charlie Luck, â€œA lot of companies for years started out with this notion that shareholder return was the first place to start.â€ Â Luck Companies, by contrast, focus first on making sure everyone understands its mission and values. Â â€œWhen you get people that share this same point of view, you begin to ignite the potential in those people,â€ Luck says. Â â€œThen their creativity, their customer service, their excellence begin to grow.â€Â That in turn increases customer and shareholder loyalty, which leads to increasing revenue, he says.
Today, the Values-Based Leadership program is an integral part of Luck Companiesâ€™ training. It begins with an introduction to Luck valuesâ€”integrity, commitment, leadership and creativityâ€”for all new employees.Â Another company value is â€œdoing whatever it takes.â€
To read the full article and learn more about Luck Companiesâ€™ success with values-based leadership, click here.
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