No Reason for Gratuitous Criticism of Family Business

Craig Aronoff

This from the most recent Bloomberg Business Week:

“Last year revenue at the company grew 12 percent, to a record $9.7 billion, and while the Great Recession slowed rivals Neiman Marcus and Saks, Nordstrom gained market share.  Nordstrom, it seems, is that rarity in American business: an enterprise run by a founding family that hasn’t wrecked it.”

Marriott, Smucker’s, Huntsman, Enterprise Car Rental and many more, often less well known enterprises, continue to be run quite successfully by founding families .As with Nordstrom, all businesses can learn from such families’ accomplishments.  We urge Bloomberg Business Week to continue to tell the instructive stories of outstanding family firms and to lay off gratuitous criticisms of what remains a crucially important aspect of our economy and society.

One thought on “No Reason for Gratuitous Criticism of Family Business”

  1. Hear, hear! So many families we work with run very successful businesses that are anchored by core values and deeply held beliefs which make them excellent employers and valued corporate citizens in their communities. Many of these families tend to be quite private and do not seek out media attention for their good works or financial success, but that doesn’t make it any less real, or significant to our economy!

Leave a Reply

Your email address will not be published.