“Family business culture continuity via storytelling,” by David Adelman and William Alexander, Family Business Magazine, November/December 2012
Since a participative culture is essential to multigenerational success, how do you keep that type of culture in place through generational change? Knowing that future generations of children will be raised in different economic and social environments than their parents, and marrying spouses whose upbringing may be foreign to the culture of the business family, what is today’s business leader to do?
The answer to this question can be summed up in one simple word: stories. Telling and codifying stories can distinguish a family business and promote its longevity.
Family business stories can share the folklore of the company’s founding. They can explore the rationale for critical decisions that shaped the company’s development. They can recount the achievements, and failures of past business cycles. They can recount meaningful or silly events that led to employee bonding.
The more stores are shared in an organization, the more the benefits are felt.
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