Clinton, EricORCID: 0000-0002-3888-8194, Diaz, Vanessa, Brophy, Martina and Gamble, Jordan RobertORCID: 0000-0002-8837-8264
(2018)
Long-term thinking in UK family business.
Project Report.
Institute of Family Business. ISBN 978-0-9570327-1-2
This working paper explores long-term thinking in family businesses based in the United Kingdom. The objectives of the paper are: to investigate the emergence and impact of long-term orientation (LTO) within family business; to explore the fit between LTO and specific types of family business; to investigate the balance between short-term and
long-term orientations in these firms; and to explore the associated risks that may attach to both types of orientation. The data collection process for this research project comprised two stages: first, data were collected via surveys of senior members of family businesses; secondly, to help clarify the findings from the first stage, three individual family business case studies were conducted in order to provide a deeper account of family firms’ experience of LTO. The research findings offer new insights into UK family businesses in terms of their long- term objectives and strategies, non-economic goals, and LTO
in the context of continuity, perseverance and legacy. The paper concludes with practical recommendations for consideration by both family and non-family stakeholders, pending further research on the subject.