The role of family values in the integrity of family business

Abstract

This chapter proposes that the combined influence of a number of different family members may contribute to the development of business integrity and would usefully merit further research. Family businesses form a cornerstone of the economies of most developed countries and appear to provide a degree of community and social stability. The importance of business integrity is relatively widely acknowledged and indeed has generated a certain media profile in recent years, defining business integrity has provoked some debate. Family business values initially received scant attention in family business research that, in its early stages, focused heavily on economic contribution, definitional challenges, and the interactional systems between the family and the business. The initial modeling work carried out by Patrick and Quinn regarded business integrity as an intangible strategic asset, viewing the integrity capacity as part of the process for continual process alignment that achieves balanced judgment.