< Previous30 Business Link www.blmforum.net FAMILY BUSINESS Keeping it in the family Family businesses make up a majority of companies in our region, but what makes them so powerful and at what costs does this come? 30-33.qxp_Layout 1 03/04/2023 15:28 Page 1www.blmforum.net Business Link 31 FAMILY BUSINESS © stock.adobe.com/REDPIXEL P eople have always felt an affection for, and affinity to, family run businesses. Their presence harkens back to a simpler time where personal relationships, community values, and a genuine passion for the product drove local traders. When consumers describe family businesses, two of the most common adjectives used are stability and commitment. In a family business, it is natural for all family members to exhibit and express a high degree of commitment to the enterprise. This stems from the fact that the foundation of any family business is based on a shared business vision and identity. Such a level of dedication is rare and challenging to replicate in non-family businesses, as success or failure is rarely so linked to the stability of a family unit. As a result, the family firm’s vision is both consistent and cohesive, paving the way for more extensive opportunities for business growth and continued success. Additionally, this level of commitment fosters a more unified leadership structure and reinforces solidarity among all family members involved in running the business. This sense of loyalty often permeates throughout the organization’s staff and employees, resulting in a more cohesive and motivated team. As part-owners of the business, family members are willing to invest their own financial resources when starting new sub-ventures or during financial difficulties. This not only reduces costs and expenditures but also strengthens the financial capability of the business. The inherent desire to ensure long- term success is a driving force for their willingness to contribute. However, this reliance on personal investment means that disputes can have a greater impact on the business than non- 32 Á © stock.adobe.com/Minerva Studio 30-33.qxp_Layout 1 03/04/2023 15:28 Page 232 Business Link www.blmforum.net FAMILY BUSINESS family businesses. In family-run businesses, the leadership team typically consists of family members who are willing to take on multiple roles and responsibilities to ensure the company’s success. However, the dynamics between family members, their history, and the blurred lines between family life and work can often lead to conflicts that are difficult to resolve. An example of such a dispute occurred in 2002 when the founder of Indian petrochemical manufacturing company Reliance Industries, passed away without leaving a will. His older son became the chairman and managing director, while his younger son became vice-chairman. The ensuing feud between the two brothers became public, and in 2005, their mother had to split the company, thus losing the trust and loyalty accrued by virtue of their family values. Depending on the size of the company, disputes may be able to be resolved without the burden of office politics. Encouraging regular communication among all employees can lead to speedy resolution of any issues they may face. However, some team members in certain businesses may prefer a more formal approach to communicate their concerns. In such cases, family council meetings can offer a structured platform for family members to discuss their concerns with the wider business. These meetings may or may not involve management, depending on the preferences of the business. It may help to bring in an impartial party, such as a family friend. The crucial aspect is to create a safe and non-judgmental space for family members to express their © stock.adobe.com/Africa Studio 30-33.qxp_Layout 1 03/04/2023 15:28 Page 3www.blmforum.net Business Link 33 FAMILY BUSINESS concerns and ensure that they feel heard. The flexibility and willingness of family members to go above and beyond expectations drives the continued success, enrichment, and better understanding of the industry, including the tasks at hand, employees, customers, and the present and future of the entire organization. This understanding can lead to better product and service development ideas that meet the needs of the company’s customers. Although trust is a vital component of family businesses, it may not be sufficient on its own. It is crucial to take internal rules and external corporate laws seriously to ensure good governance and management. A case in point is the 2008 resignation of Samsung Group Chairman Lee Kun-Hee due to his conviction for tax evasion and investigation for selling stock to his son at unfairly low prices, which highlights the significant impact of good structure and management. This leads us to perhaps the largest concern regarding family run enterprises – nepotism. Some family businesses may make the mistake of promoting family members to senior management roles, even when they lack the necessary education, experience, or skills to handle the responsibilities effectively. In such cases, it would be prudent to hire more qualified non-family members for these positions. However, this can lead to tensions within the family, making it challenging to strike a balance between family relationships and finding the best person for the job. Nonetheless, a lack of competence at the senior level can significantly affect the success of the company, as well as the retention of talent. Whilst this is often seen as the largest pitfall for family businesses, this can be turned into one of their greatest charms. Training up family members to take positions within the business is a time honoured tradition, particularly when it comes to trades. Instead of promoting family members without justification, lovingly showing them the ropes, and giving an appreciation for the product is likely to result in higher quality output. Training family members up from a young age also takes advantage of the changing perspectives with each generation. Including the next generation of family members in the leadership and workforce of a family business can increase its competitive edge over non- family firms and provide access to the younger generation’s perspectives and ideas. One of the advantages of a family business is the smooth transition of leadership within the same family. This can ensure the continuity of long-term business policies or enable the successful accomplishment of established goals. Lincoln Print & Copy Centre The Lincoln Print & Copy Centre have been helping individuals, businesses, charities, clubs and societies with their printing needs since 1979. With over 40 years of experience in an ever-adapting field, Lincoln Print & Copy serve customers of different needs and requirements from their offices in Lincoln. Capable of working in non-standard sizes to complicated brochures, and tight timescales and deadlines, Lincoln Print & Copy Centre have the technical expertise to assist and advise. “We do more than printing,” says Lincoln Print & Copy. “We love a challenge and all our customers have differing needs. We like to solve problems, and we work with brochures, stationary, book covers, flyers, promotional leaflets and more.” Lincoln Print & Copy Centre also has its own design team and creative designer, on hand to assist with design problems – from helping new material to match current company branding, to layout and design of something custom built from scratch. To find out more visit www.lincolncopycentre.co.uk 30-33.qxp_Layout 1 03/04/2023 15:28 Page 4HEALTHCARE 34 Business Link www.blmforum.net W hen you start considering to balance your health alongside your work output, you realise the many different layers of impact your health has on how you give back to your business and career. Without making sure you’re well-rested mentally and physically, your focus and output suffers. But when you’re looking after your energy levels and staying active, not only will your efforts be on top form, you’ll simply enjoy your day more alongside everyone you work with. Let’s start by looking at staying active. Sitting in front of a computer screen for long hours can lead to a great many health problems, so it’s important to take short breaks frequently to stretch, or stand up and walk around if you’re physically able. If you are able-bodied and used to being sedentary while working, especially in a desk job, setting this to rights can start with small but effective steps. When you arrive at the start of the day, try taking the stairs instead of the lift. You can even start your day off right before you clock on, by walking or cycling to your place of work instead of commuting by car. It’s important to take this attitude through your workday, and this is where taking those regular breaks comes in. They don’t have to be long, as even a few seconds looking away from your Finding the right balance Making conscious efforts to stay healthy while you’re working should be counted just as important as the work you do. 36 Á 34-37.qxp_Layout 1 03/04/2023 16:14 Page 1www.blmforum.net Business Link 35 © stock.adobe.com/Anela/peopleimages.com 34-37.qxp_Layout 1 03/04/2023 16:14 Page 236 Business Link www.blmforum.net HEALTHCARE screen can do wonders for your vision, eye health and attention span. As a starting point, when you’ve done 40 minutes to an hour of work, make a conscious effort to stop what you’re doing and think what your body needs. That might mean correcting your posture – crucial for evading pain in the neck, back and shoulders – or making sure you’re staying hydrated to prevent headaches becoming an unwelcome stress. Lunch breaks might be the most crucial time to reset your habits and step back from your desk. Eating lunch in front of a screen has become an unhealthy trend in many workplaces, due to the illusion of getting more work done. But this is a contrary and potentially harmful behaviour to keep up, particularly if it’s on an everyday basis. It only means you’ll feel more tired, which can have a shocking impact on the quality of your sleep and affect whole weeks, or even months or years of work. This snowball effect can be managed and prevented by taking your lunch away from your desk. Head to a nearby beauty spot, or grab the chance to catch up with friends from other departments while you refuel. After taking all these steps for a few days, chances are you’ll start having a better night’s sleep. This is the perfect foundation for improving your mental wellbeing hand-in-hand with physical health. Rest keeps our energy high, and our concentration and productivity on point. The surprising amount these three facets bring to a full and happy working day will automatically boost your mental health, laying the groundwork to help yourself feel at your best. Here’s where you can choose to give even more to your work, your colleagues, and ultimately yourself. Mental health is just as important as the physical when it comes to raising your motivation, focus and the brain’s processing speeds, all so important for being on your toes for any challenge the day might bring. Pressing the reset button, even after the worst of days, means being committed to self- care. The good news is, you already started this work when you helped yourself to a deeper sleep. If you’re doing that by making sure you eat a healthy and hearty lunch, even better. These common-sense actions all count as self-care, so reward yourself by doing something that brings you joy. Most people could benefit from incorporating an activity or hobby that acts as a reward system, whether during or at the end of the day. This could mean bringing a good book or creative project in as a mini lunchtime retreat, or listening to music on your commute. Just don’t let whether you do this be based on how much you get done. Showing up for your work with the best possible intentions is more than enough reason to treat yourself. Being realistic with your output goals for each day in this way can be helpful for staying motivated, and preventing overwhelm or burnout creeping in to cause unnecessary stress. Making small tweaks to your to-do list, or starting to keep one if needed, can reassure you that you’re making progress. Break larger 34-37.qxp_Layout 1 03/04/2023 16:14 Page 3www.blmforum.net Business Link 37 HEALTHCARE goals into smaller, manageable steps, and prioritise your tasks based on their importance and deadline. And let’s reiterate this – make sure you reward yourself and celebrate your accomplishments along the way. Sharing your achievements with colleagues works as a huge communal confidence booster, but also builds strong relationships for a supportive and collaborative work environment. Take the time you’ve blocked out away from your desk to connect with your co-workers, whether it’s collaboration on projects or just stopping by for a chat. You never know when the friends you make might save your day. Everyone has times when they need extra support, and it’s especially important for men to normalise letting each other know when they’re feeling low. To keep stress and emotional overwhelm from taking their sometimes tragic toll, talk to a trusted colleague or supervisor, or make the most of any employee assistance programs your workplace has available. However you go about it, seek the help you need and deserve. Your mental health will thank you for it, perhaps for a long time to come. Each of these steps add up to a positive body, mind and workplace threefold relationship. When you’re feeling rested, happy and enthusiastic about your work, it starts to stretch beyond you to your colleagues and friends, and even the overall vibe of the space you work in. This will happen naturally when you’re sharing your endeavours with others, so why not make the effort to incorporate it into your workplace policy? Start an office-wide movement to break for exercise, fresh air and constructive playtime, or build a safe space to talk about stress, frustration or sadness. These simple goals can be true lifesavers in preventing health problems, promoting mental wellness, and forging a whole team devoted to inspiring and supporting each other. © stock.adobe.com/Andrey Popov © stock.adobe.com/LIGHTFIELD STUDIOS 34-37.qxp_Layout 1 03/04/2023 16:14 Page 438 Business Link www.blmforum.net AUTOLINK MINI Clubman In 1969, the first Mini Clubman rewrote the rule book. It was an instant hit, dominating the 1970’s automotive market as a station wagon with its long wheelbase, extended shooting-brake body, and characteristic split doors at the rear. Today, the MINI Clubman remains one of the most versatile MINI models in the range and is forever synonymous with its signature rear split doors. The MINI Clubman Final Edition is a limited run of 1,969 units - paying homage to the launch year of the original vehicle - with just 100 models for the UK. Powered by a 4-cylinder petrol engine with MINI TwinPower Turbo Technology, the MINI Clubman Final Edition (fuel consumption combined: 6.5 l/62 miles; CO2 emissions combined: 147 g/km according to WLTP) is offered with a Cooper S engine that delivers 178 hp. The interior of the MINI Clubman Final Edition features door sill trims embellished with “Final Edition” lettering which are also found on the lower spoke of the Nappa leather steering wheel. MINI Yours leather sports seats – finished exclusively in Dark Maroon Leather – offer sewn-in edition-specific badging, seat heating and adjustable thigh support. Mercedes-Benz GLB Numerous innovations and more extensive standard equipment – Mercedes-Benz is making the spacious GLB compact SUV even more attractive for customers. The redesigned front bumper with visual underbody protection points to its off-road genes. The SUV radiator grille with four horizontal louvres and central star underlines this impression. The athletic shoulder shape, with coherently modelled side graphics, creates an interesting interplay of light and shadow and a visually width-accentuated rear end. Comfort seats come as standard in the new GLB, which are upholstered in ARTICO man-made leather and black fabric with three- dimensional embossing. One of the highlights of the significantly upgraded interior is the freestanding double screen. Standard are a 7- inch and a 10.25-inch display for the respective instrument cluster and multimedia screens, with two 10.25inch wide-screen displays available as an option. We look this month at an eclectic range of motors covering the whole spectrum, from the pinnacle of sports cars to an old classic to be released in limited numbers. We look this month at an eclectic range of motors covering the whole spectrum, from the pinnacle of sports cars to an old classic to be released in limited numbers. 40 Á 38-41.qxp_Layout 1 03/04/2023 16:15 Page 1www.blmforum.net Business Link 39 AUTOLINK MINI Clubman 38-41.qxp_Layout 1 03/04/2023 16:15 Page 2Next >