Patient Capital: The Role of Family Firms in Sustainable Business

Sustainable businesses create economic and social value while protecting the environment. The case of the wine industry demonstrates that family firms with a focus on trans-generational continuity, long-term orientation, shared vision, faster decision-making processes, and preserving socio-emotional wealth are more likely to make patient long-term investments for innovations in products, services, processes, and business models to address environmental sustainability challenges.

Format: Hardback
Length: 256 pages
Publication date: 18 July 2019
Publisher: Cambridge University Press

Sustainable businesses are a remarkable blend of economic and social value creation, while also ensuring the protection of our natural environment for generations to come. This insightful examination of environmental sustainability within the context of family businesses sheds light on the challenges faced by both family and non-family organizations in balancing short-term productivity, efficiency, and profitability objectives with the urgent need for long-term sustainable value creation. Through the lens of the wine industry, Sanjay and Pramodita Sharma offer fresh insights into the influences and drivers that propel proactive environmental strategies to address major global sustainability challenges. By examining the case of this diverse industry, the authors demonstrate that family firms that prioritize trans-generational continuity of business, a long-term orientation, a shared vision, faster decision-making processes, and the preservation of socio-emotional wealth are more inclined to make patient, long-term investments in innovations that address environmental sustainability challenges.

This comprehensive analysis highlights the crucial role that family businesses can play in driving sustainable change and creating a more sustainable future. By embracing these principles, family firms can not only contribute to the well-being of their employees, customers, and communities but also make a significant impact on the global environment. As we navigate the complex challenges of our time, it is clear that sustainable businesses will be the driving force behind a brighter and more sustainable future.

Weight: 524g
Dimension: 158 x 234 x 17 (mm)
ISBN-13: 9781107123663