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    Managing for the Long Run (Review and Analysis of Miller and Le-Breton-Miller's Book)
    Managing for the Long Run (Review and Analysis of Miller and Le-Breton-Miller's Book)
    Managing for the Long Run (Review and Analysis of Miller and Le-Breton-Miller's Book)
    Ebook44 pages41 minutes

    Managing for the Long Run (Review and Analysis of Miller and Le-Breton-Miller's Book)

    By BusinessNews Publishing

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    About this ebook

    The must-read summary of Danny Miller and Isabelle Le-Breton-Miller's book: "Managing for the Long Run: Lessons in Competitive Advantage from Great Family Businesses".

    This complete summary of the ideas from Danny Miller and Isabelle Le-Breton-Miller's book "Managing for the Long Run" shows how in every systematic study, Family Controlled Businesses (FCBs) have been shown to outperform public companies in terms of revenue growth, market valuation increases, return on assets, return on equity and other factors. However, this is not the result of some kind of magic formula: every company can emulate the FCB strategies and characteristics. In their book, the authors reveal the secrets behind the success of these companies, known as the four Cs: command, continuity, community and connections. This summary explains each of these features and how you can implement them into your own business.

    Added-value of this summary:
    • Save time
    • Understand key concepts
    • Expand your knowledge

    To learn more, read "Managing for the Long Run" and find out how you can learn from the best family businesses and follow their strategies for success.
    LanguageEnglish
    PublisherBusiness Book Summaries
    Release dateNov 12, 2014
    ISBN9782511021170
    Managing for the Long Run (Review and Analysis of Miller and Le-Breton-Miller's Book)

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      Book preview

      Managing for the Long Run (Review and Analysis of Miller and Le-Breton-Miller's Book) - BusinessNews Publishing

      Book Presentation: Managing For The Long Run by Danny Miller and Isabelle Le-Breton-Miller

      Book Abstract

      About the Author

      Important Note About This Ebook

      Summary of Managing For The Long Run (Danny Miller and Isabelle Le-Breton-Miller)

      1. The track record of FCBs

      2. The four driving priorities of FCBs

      3. The five key strategies FCBs use

      Book Abstract

      MAIN IDEA

      Prevailing wisdom suggests a family-controlled business (FCB) – a public or private company in which a family holds the largest block of shares and has at least one family member in a key management position – can never be as competitive as a business with professional managers. However, in every systematic study, FCBs have actually been shown to outperform other public companies in every measure imaginable – in revenue growth, market valuation increases, return on assets, return on equity, etc.

      So what is it FCBs and their family appointed leaders are doing right? Their success is built on a foundation of the four C’s:

      Take command – FCB leaders are decisive, speedy and innovative when it comes to running their firms.

      Ensure continuity – they plan on being there for the long haul, and therefore correctness rather than expediency is stressed.

      Create a community – where everyone working for the firm is integrated into a close-knit extended family culture.

      Build connections – FCBs strive to build long-term relationships rather than opting for opportunistic transactions with others.

      Based on that foundation, FCBs then use one of five specific strategies better than their peers:

      Build the brand – Family-controlled businesses create perceptions of their products and services that last generations.

      Act like a craftsman – FCBs go to great extremes to build quality products they should be and are proud of.

      Operate efficiently – Great FCBs find original ways to add value more efficiently than all their competitors.

      Keep innovating

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