Fit for the Future? The Cultural DNA of Spanish and Latin American Family Businesses | Zendy

P. Valera | Zendy; Neus Feliu | Zendy; Ivan Lansberg | Zendy

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Fit for the Future? The Cultural DNA of Spanish and Latin American Family Businesses

Author(s) -

P. Valera,

Neus Feliu,

Ivan Lansberg

Publication year - 2021

Publication title -

european journal of family business

Language(s) - English

Resource type - Journals

eISSN - 2444-8788

pISSN - 2444-877X

DOI - 10.24310/ejfbejfb.v11i1.12846

Subject(s) - loyalty , context (archaeology) , latin americans , metaphor , family business , internationalization , order (exchange) , work (physics) , economic justice , political science , sociology , marketing , business , engineering , geography , law , archaeology , international trade , linguistics , mechanical engineering , philosophy , finance

We use the metaphor of biological DNA and its essential building blocks to describe generic and specific family business cultures and suggest that Spanish-speaking or "Latin" family businesses inherited four key cultural DNA building blocks—Trust, Loyalty, Authority and Justice—from historical Roman times. Like biological DNA, family businesses are forced to change when its environment changes. In this context, we discuss recent changes representing paradigm shifts to which family businesses relying on “Roman DNA” must adapt in order to be fit for the future. We draw upon our firm's 30 years of work consulting to Latin family businesses and present a wide range of supporting cases and stories.

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