Top Five Strengths of Multigenerational Businesses
Student Transit is proud to be a family business owned and operated by a fourth-generation pair of Feys. We believe this is one of our greatest strengths and helps us be successful in our mission.
Family-owned and operated businesses are often some of the strongest due to their employees' dedication and personal connection to support their success. This passion tends to run even deeper when the company is run by a fourth generation, which is only accomplished by 3% of all family businesses. Student Transit is proud to be one of those businesses.
New Perspectives
As time goes on, ideas and practices continuously evolve. What may have made sense at one time may no longer be the best option in the present. With each new generation that joins a family business, a new perspective is gained. This allows the organization to grow and develop continuously while also maintaining the core values it started with.
Long-Term Visions
A business that stays in the family has a strong foundation on which a long-term plan can be built. When a company can envision its future past just a single lifetime (or two or three), the opportunities for growth and development are seemingly endless. The ability to be creative and innovative over an extended period can influence how the company may evolve.
Lifetimes of Experience
When someone grows up surrounded by a family business, they learn the ropes early on. Watching elder relatives run an organization can provide insight into best practices and instill strong pride in the business's growth. Then, when they are ready to take over, they are often very personally invested in the business's success.
Strong Values
A company's success is often contingent upon its core values and how well-aligned its members are with them. When a business is passed down through generations, those values remain a focal point within its operations and are a central theme upon which decisions are based. This keeps the company thriving with clear goals in mind.
Feels Like Family
Family businesses' most significant strength is that a family runs them. This often means a deeper understanding of proper work/life balances, and the relationships between coworkers are much more personal. The environment always feels comfortable, welcoming, and incredibly supportive. If you'd like to work where you're treated like family, even if you're not related, check out our careers page to see our open positions.
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