1. How would you describe the culture of your family’s business?
In my family business, we are working internationally. The core business is located in Bolzano Italy and is therefore Italian and german based. But since the company has many subsidiaries all over the world, every employee has to speak proper English in order to communicate with co-workers from all over the world. Therefore the culture is very international. And every subsidiary has its own culture, which is combined with the Italian culture of the core business.
2. In what ways are your family’s purpose and values reflected in this business culture?
Respect: His respect for people around my father, is represented very high in the company. He has massive respect for all of his employees and values the job they are doing. This sits very well with all employees and they really like working for the company.
Meritocracy: good work will be rewarded
Hardworking: Hard work will be paid off. My father showed us, that everybody can do everything if they work hard enough and therefore he has passed this down to us and also to his employees.
Honesty: having a transparent relationship with everyone will solve many problems.
entrepreneurship: he has thought us that, thinking forward pays off. entrepreneurship will always pay off to be ahead of the business
3. How does this stage of your family business’ lifecycle contribute, affect or erode the business and ownership dimensions of your business?
The company has been founded by my father and his co-sharholder 50 years ago and therfore he has grwon with the business. The structure now gives him a lot of power, as it is only my father and his co-shareholder making decisions. They do not have to talk to the board when making decisions and are therefore free to make ny decisions they want.
4. What transition do you envisage for your family business’s lifiecyle stage in the coming 10 years?
I belive that in the next 10 years the business lifecycle will go over to the second generation business and my brother and my sister will take over the shares and run the company. The other sharholder will not be activly involved in the company or will sell his shares.
5.How do you anticipate your family business and its owners and agents (including yourselves), reacting to these changes?
I belive that a silbilng partnership will be very powerful for the company as my sister and my brother go along very well and are very compatible when making decisions.