Evaluating Your Company Culture

This week I attended three great events: a webinar on succession planning; a roundtable about fraud in privately owned businesses and the Centerstate CEO Economic Champions luncheon.  Thinking back on all three of these events they all mentioned and showed some common themes; loyalty, culture and communication.  Obviously there was much substance to each event but I found it interesting that some of the same thoughts and statements came up.

The webinar presented by Family Business Consulting Group out of Chicago was titled “Passing the Baby:  The 8 Must Haves of Successful Succession Planning”.  Just the title sets the tone of how founders and/or the current generation feel about their family business.  This is their creation; they care deeply about their company and their loyal employees.  They may not believe that anyone else can adequately be prepared to continue it.  How do they get past this belief?    One of the “must haves” is communication.  Business owner have hopes and goals of what they want for themselves, their family and for their business and must communicate these.  Communication can define the culture that is in your business and family.  Establishing a culture that employees and family members feel as they are valued and respected can engage them in the success and continuation of the business.

The fraud roundtable presented by Rosa Pinti, CPA, CFE  from Bowers & Company CPA's also touched on the importance of this loyal and respected culture in privately held businesses.  How this type of culture might help reduce fraud in the workplace by a few percentage points.  The roundtable group offered that even the small things and gestures have helped them in their business and much of it was about how they have communicated to their employees how important each of their employees are to the business; the sustainability of the business and the strength of the business. it all matters. 

Then I attended the Centerstate CEO Economic Champions; this was a great uplifting event for Central New York.  Doug Logan announced the names of the companies being celebrated while their employees sat at tables and cheered and waved the SU basketball clappers in the air.  The loyalty and honor felt by these people in the room showed how proud they are to work for these companies.  They showed their loyalty and their appreciation for the culture that they are part of.  As we all streamed out of the OnCenter we had a good feeling about our area knowing that these companies and many others are successfully achieving economic growth in our area.

Join us November 16^th as we hold a breakfast forum at Justin’s Tuscan Grill presented by The Leading Element; “Navigating Difficult Conversations” Maybe we can help the communication efforts in your family business and help with your feel good culture!

Good News Reports - Schneider Packaging Co Inc.

 


Pack Expo Booth Las Vegas

 I would like to begin our family business good news reports with Schneider Packaging Equipment Co. Inc.  Erin Schneider, third generation at Schneider Packaging and I exchanged emails this past week and part of her email was “We are busier than ever, contracts in place all the way through 2012.  If you know any electric or mechanical engineers send them our way”.  Well this sounds like outstanding news to me in this economy.

They have just returned from the Pack Expo in Las Vegas.  This expo is the real deal.  It has more than 26,000 attendees, close to 2000 exhibitors and takes place in 630,000 square foot. WOW!   Schneider Packaging participates in this expo every year, it is a great place for them to win new customers and retain the current ones.  They participated in a packaging race which drew college students from all over the country to check out Schneider booth and inquire about this growing and innovative company.

Let me give you a little background.  In November of 2010 Richard (Dick) Schneider was one of our panelists at our innovations dinner seminar.  He was a big hit at this forum; he sat on the panel with Eileen Brophy; Brophy Services and Bill Byrne; Byrne Dairy. The three of them talked about the innovations that help sustain and grow their businesses.

Dick founded The Schneider Company in 1970 after wanting to use his designs for the equipment at the machinery firm he was working for.  He had so many innovative ideas that he persistently brought to the owner.   Fortunately for Dick the owner of the company decided against using his designs.  Well that paved the way for Schneider Packaging Equipment Co., Inc. which he founded in 1970.

Today they are located in Brewerton with over 200 employees, Rick Schneider second generation now President of the company with several other family members leads the company into the future with new inventions and designs.  They have received many awards including outstanding achievements awards from FANUC Robotics for outstanding robotic integration achievements; and a new patent in 2011 for Robotic multi product case packing system.   Congratulations to this growing family-owned business right here in Upstate New York.

Wholesome, Quality, Continuity

 

Have you noticed lately the ads on TV and radio highlighting not only what the company sells or the services they offer but focusing on the fact that they are a family business, and for how many years; how many generations.  This phenomenon may have started with S.C. Johnson The Family Company but I have noticed it is rapidly seeping into our local family owned business advertisements.

Why are they doing this?  Basically it is about the title of this post.  These are the words that are associated with family owned businesses.  A research study that S.C. Johnson “The Family Company” partially funded at Oregon State University revealed that these are the first words that come to mind when you here family-owned business. 

Dr. Joanne Norton from the Family Business Consulting Group came to Syracuse in February of this year and held a forum for the New York Family Business Center specifically on this topic.  The research that Justin Craig, Clay Debrell and Peter Davis of Oregon State University conducted found that family businesses have a big advantage.  Their research not only shows that businesses that promote their “familiness” positively influence customers purchasing decisions but also lets us as the consumer feel you have a connection to this business because you also have a family.  It is something you feel you can trust.  Branding your business as a family business reminds consumers that there is a family behind the business and not a faceless corporate entity.   The authors note that family businesses are ultimately the backbone of most economies throughout the world, family businesses contribute to the economic and social fabric of their communities.  Family businesses are proud of what they do and what they contribute.  They also state “It is our belief, which is supported by our findings, that they should communicate this pride to their customers because as we have shown it does produce competitive advantages.”

In my first blog post I feel that I should tell you about the New York Family Business Center.

The New York Family Business Center gives family owned business owners and managers opportunities to interact and learn from each other and from family business professionals. Members will develop the strategies and policies to achieve their goals and objectives.

The Center provides tools, resources, consulting, training, interaction, and education specific to family owned businesses in upstate New York in a nurturing and confidential environment.

The Center's activities are member driven enabling participants to gain intimate insight into key elements that create a successful multi-generational family business.

The Center partners with community leaders, organizations, colleges and universities to provide access, research and academic courses that are needed by family business owners. Local and nationally recognized professionals are brought into address specific topics pertaining to the success of a family owned business.

What is a family business you ask?  Well it is defined in so many different ways through the world we had to pick our own definitions.  Family members significantly affect direction & strategy of the business; Overlap in family, ownership and management; desire for continuity across the generations.  Does this sound like you?