Some individuals may want to become a part of their families' companies after they complete their studies in business degree programs. These same people may have an interest in the results of a recent survey on how family businesses are faring in the current economy.
In a recent study from Egon Zehnder International, the executive search firm surveyed 720 executives from the Americas, Europe and Asia-Pacific about their family business experience. Based on the study's findings, more than half of these respondents attribute the nature of family-owned businesses to getting them through the recent economic downturn.
The firm found that 56.3 percent of respondents view the long-term perspective that family-owned businesses have as an advantage. A total of 47.2 percent of U.S. owners agreed with this statement. Furthermore, 64 percent of all participating owners felt that their outlook translated to more innovative ways of doing business.
"This study clearly shows that the long-term perspective, value-based decision making and independence from the capital market give family-owned businesses a genuine competitive edge in the marketplace," said Karena Strella, co-leader of Egon Zehnder International's U.S. Business.