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The Art of Ownership vs. The Science of Management

 

While there is great literature on what it means to be a great leader or manager, very little is written about what it means to be a great owner.  Most families and even family leaders that I have worked with have difficulty defining what it means to be a great owner or in developing an ownership mentality in their successors.

Success depends on whether the successive owners can in fact act like owners, create long-term vision, maintain corporate (and where appropriate) family values and hold management accountable.  For those chosen to lead or manage, there should also be appropriate development.  I have observed failure in both systems, but most often it is tied back to the ownership system.  In his book, Think Big Act Small, Jason Jennings devotes an entire chapter to getting everyone to think and act like an owner.  And he is not referring just to family members.

Grow great owners and then for those who are chosen to lead, help manage and develop them.




W
hile there is great literature on what it means to be a great leader or manager, very little is written about what it means to be a great owner.


 

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