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Welcome to SportTrac.Org
Off Topic Discussion
In Bill Ford's career, firm always comes first
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<blockquote data-quote="Thomas Rogers" data-source="post: 890380" data-attributes="member: 60724"><p>Most very successful family owned and managed companies fail to survive past three generations. This is a fact, or so I have been told.</p><p></p><p></p><p></p><p>It's been explained to me that this happens because what drove the first generation is passed down to the next and because of this a company can be profitable and successful for two generations. However, it is often the case that the success and prosperity that is enjoyed by the 2nd and 3rd generations start to become "expected", and taken for granted. Complacency then sets in, and the things that made the company great in the first place, things like drive, determination, eye on quality, customer service, core values; these things start to go by the wayside by the time the third generation (and beyond) takes the helm.</p><p></p><p></p><p></p><p>That's why many great companies die after 40 or 50 years, or are on life support until they are into their 60s and 70s....then die.</p><p></p><p></p><p></p><p>The fact that Ford keeps plugging along, and is by no means NOT on life-support is a testimony to the fact that the generations that follow are keeping to true to the original roots.</p><p></p><p></p><p></p><p>TJR</p></blockquote><p></p>
[QUOTE="Thomas Rogers, post: 890380, member: 60724"] Most very successful family owned and managed companies fail to survive past three generations. This is a fact, or so I have been told. It's been explained to me that this happens because what drove the first generation is passed down to the next and because of this a company can be profitable and successful for two generations. However, it is often the case that the success and prosperity that is enjoyed by the 2nd and 3rd generations start to become "expected", and taken for granted. Complacency then sets in, and the things that made the company great in the first place, things like drive, determination, eye on quality, customer service, core values; these things start to go by the wayside by the time the third generation (and beyond) takes the helm. That's why many great companies die after 40 or 50 years, or are on life support until they are into their 60s and 70s....then die. The fact that Ford keeps plugging along, and is by no means NOT on life-support is a testimony to the fact that the generations that follow are keeping to true to the original roots. TJR [/QUOTE]
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Off Topic Discussion
In Bill Ford's career, firm always comes first
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