The Jacobs' Family Values Essay Example

Introduction

The Jacobs have a set of values imparted on every member of the family and are practiced in every activity involving them. These values include fairness, commitment, equity as well as particular work ethics that apply to every party to the family's business activities. The latter has specifically helped the business' relationship with its in-laws as well as other relatives in the business activities. To this end, the Jacob's had excelled in creating a professionally-run business empire, as it was seen when the business was listed as the best-selling in hospitality in industry, that shelves family relationships when it comes to business. In this dimension, there has been integrity, equity as well as fairness in the management and treatment of employees as well as family members at work. Normally, family members compromise their integrity for their relatives and friend at work (LeCouvie & Pendergast, 2014). However, this has not been a case in Jacob's life. Also, the family values, alongside the support of the business constitution, has helped the business resolve matters relating to family conflicts, succession as well as divorce. In this dimension, the constitution has helped the business settle these issues without hurting its operational course. For instance, by defining the line of succession, responsibilities as well as the engagement of various members of the Jacobs in the business, there has been perfect coordination as well as co-existence and smooth operation of the business. For instance, the constitution has facilitated effective conflict resolution among the business' workers as well as the members of the families. Normally, internal wrangles among members of a family, about the business operations are fatal to business operations as they potentiate the business' failure and even closure. However, this has never been a case in Jacob's life.

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The Jacobs have a defined constitution for its future generations, and this is evidenced by the constitution developed to oversee the operations of its business activities. To this end, there is a defined procedure of acquisition and disposal of the family's resources and investments. Thus, the family constitution has facilitated a smooth relationship among family members regarding business activities (Gimeno, Baulenas & Coma-Cros, 2010). For instance, the constitution has overseen the use of the family's resources, especially, in facilitating the achievement of the business' continuity. To this end, the family's money facilitated the hiring of skilled and experienced to run the business.

Family Values

There is a robust foundation for the family's business. This potentiated the development of a set of values and practices to ensure effective leadership to oversee its continuity (LeCouvie, & Pendergast, 2014). In the process, there was a differentiation of valuable values that ensure smooth continuity of the business as well as those that are to be shunned as they will hurt the flourishing of the business. Below is a countdown of values to be passed on to future generations.

Values Passed on to Future Generations

Discipline

The quality of discipline is an essential factor that ensures the business as well as the family. Its application in the management of the business and family affairs ensures an acceptable behavior as well as the relationship with business stakeholders. To this end, it will help the members of the family to adhere to the set rules and regulations of the family. This is essential because most businesses fail because its members and owners tend to feel that they are above the law, and the regulatory measures set to drive the business do not apply to them. This does not motivate employees, and again, it is not in line with the organizations' visions, goals, and objectives (LeCouvie, & Pendergast, 2014). Thus, passing on the discipline aspect to future generation make them acceptable and thus, they can work with other employees as well as stakeho0lders of the family business. Also, it ensures the harmony and integrity of the family, and this is because it develops mutual understanding among family members.

Integrity

Passing on integrity to future generations imparts the quality of truthfulness and honesty. These two aspects of integrity affect how the business deals with its stakeholders. Likewise, it determines the relationship among family members. Above all, it is a crucial factor determining effective leadership, for both business and family matters, and thus, it affects business and family integrity and continuity (LeCouvie, & Pendergast, 2014). For instance, episodes of untruthfulness and dishonesty trigger mistrust that potentiates infighting and power struggle over the businesses. This amounts to the splitting of the business, and this hurts every member of the family depending on the business.

Visions and Missions

The family's visions and missions are crucial factors fueling its development. Thus, transmitting them to future generations is ideal for the development and survival of the business. This is achievable through nurturing the younger members of the family on how to plan and subsequently implement the plans for the benefit of the family and the business as well (Marquardt, 2009). To this end, this will ensure that the family stays on its course regarding its business aspects. For instance, setting goals, planning for them and implementing them effectively is an essential practice among successful businesses as well as families. Thus, it is ideal that the family retains and pass on this quality to future generations so that the business does not lose its hard-earned reputation.

There are also other values that must be shunned for the values above to sink in and effectively help the business achieve its objectives. Much of these values are closely related to the above values that are prudent to pass on to future generations. They are as documented below.

Dishonesty

In business activities as well as family affairs, dishonesty and compromised integrity is a toxic factor. Naturally, it eliminates trust and cohesion among engaged parties, and this spells the end of whichever association among parties involved. In this perspective, it destroys the relationship among family members as well as parties doping business. Thus, its practice should not be passed down to future generations, and this is because it will hurt the business (LeCouvie & Pendergast, 2014). Consider a scenario where a member of the family understates the costs of supplies to the business. Eventually, the supplier will notice the shortcomings after doing a review of his or her records, and this will elucidate mistrust between him and the business. As such, he or she will opt not to partner with the business henceforth. The same case happens when a member of the family swindles the other or present an unfair deal. When such practices repeat and persist, it triggers a division in the family and scares away business partners. The net effect of this is an undesirable reputation on the family.

Indiscipline

Disciplinary issues determine whether or not there will be co-existence, tolerance as well as mutual understanding in the business, and the family as well. In disciplinary cases hurt co-existence and cooperation in business and family, and this subsequently affects how they interact and handle their customers (LeCouvie, & Pendergast, 2014). To this end, it has to be shunned because it will hurt the relationship among Jacob's family as well as the business-consumer relationship. The net effect of this is disquietness in the family, and this will have a direct impact on the business as well. This is because it will facilitate poor management and misuse of resources. In this manner, the business will lose its customers due to inefficient operations. Again, the business professionals assisting the management of the family investment will leave because disciplinary issues will establish an unconducive environment for them to operate in.

Conclusion

The family genogram is a representation of a family's composition. The above genogram is a representation of Jacob's. The family has been revered for exceptional performance in the hospitality industry, and this has been a function of a functional family structure, under the guidance of a sound constitution. Even though the family's constitution has been instrumental in the smooth and effective operation of the business, the family's values have also played a crucial part in the family's success. For instance, high levels of discipline and integrity have been a central party of the family's core values, and this has helped the business stick to its visions and missions. The Jacob's have succeeded in passing on these values to its subsequent generations as well as shunning away practices concerning compromised integrity and indiscipline.

References

Gimeno, A., Baulenas, G., & Coma-Cros, J. (2010). Family business models: Practical solutions for the family business. Basingstoke: Palgrave Macmillan. Retrieved from https://books.google.co.ke/books?id=fk7eCwAAQBAJ&pg=PA16&dq=the+importance+of+family+constitution+in+business+management&hl=en&sa=X&ved=0ahUKEwj-h7LZ37vhAhWSlxQKHfDYA0MQ6AEIPzAE#v=onepage&q=the%20importance%20of%20family%20constitution%20in%20business%20management&f=false

LeCouvie, K., & Pendergast, J. (2014). Family Business Succession: Your Roadmap to Continuity. New York Palgrave Macmillan US 2014. Retrieved from https://books.google.co.ke/books?id=IxauAgAAQBAJ&pg=PA39&dq=family+values+to+pass+to+future+generation&hl=en&sa=X&ved=0ahUKEwjOx6HC0LvhAhVk6uAKHWisAbQQ6AEINTAC#v=onepage&q=family%20values%20to%20pass%20to%20future%20generation&f=false

Marquardt, M. (2009). Human resources and their development. Oxford: Eolss Publishers Co Ltd. Retrieved from https://books.google.co.ke/books?id=PzdmCwAAQBAJ&pg=PA263&dq=the+essence+of+passing+down+family+visions+and+missions&hl=en&sa=X&ved=0ahUKEwjgzMb_1bvhAhXGDGMBHcMeCJEQ6AEILjAB#v=onepage&q=the%20essence%20of%20passing%20down%20family%20visions%20and%20missions&f=false