Magazine: How can a family business be successful?

By: jungandrea Date: 2018. 02. 16. 07:57

According to Ákos Ékes, family business specialist of K&H Bank, family-owned enterprises contribute nearly 50 percent of the country’s GDP. Thanks to their set of values and attitude, they are also much more resistant to economic cycles. In the long run these enterprises need to grow if they want to preserve their values or create new ones. A family business can be successful if it meets four criteria: 1. its growth ambitions are realistic, 2. it has a positive ROI, 3. members of the management cooperate at a strategic level and 4. the business has a long-term vision, and it has the structure and the means necessary for harmonising short-term and long-term objectives. //