With a new Baby Windsor gladdening the hearts of royalists, how timely that researchers at Standard & Poor’s, (S&P) the debt ratings merchant, should extol the virtues of dynastic rule and family firms.
One may not be able to choose one’s family, but in business that may be a good thing, suggests S&P.
What a contrast to the Roundhead doctrine – pre-financial crisis – that family ownership stifled innovation, and family businesses were unproductive, low margin, slow to recognise threats and opportunities and cavalier in their disregard for markets.
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