Edited by Pramodita Sharma and Sanjay Sharma
Chapter 1: Pioneering business families committed to sustainable development
The chapter introduces the cases in this volume of business families that have values to use their family enterprises as a force for the good of society. These families have a commitment as a responsible company with a moral obligation to contribute to society. In order to ensure of success of their commitment, they have control over strategic decision-making in their firms and an intention of transgenerational continuity. Their family enterprises have translated their values into a strong sense of purpose to achieve certain sustainable development goals (whether explicitly or implicitly), have been professionalized to foster the development of unique capabilities and appropriate organization design and structure, and partner with a variety of stakeholders to ensure the simultaneous achievement of social, environmental and profitability goals. A brief overview of the cases is followed by an identification of the common themes of commitment, control and continuity for the business families and purpose, professionalization and partnerships for the family enterprises run by them.
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