The phrase in question represents a carefully considered decision within a family-owned enterprise, often involving a significant investment or strategic pivot. Such a decision carries substantial risk, but also the potential for considerable reward, impacting not only the financial standing of the business, but also the legacy and relationships within the family involved. For instance, a multi-generational firm might decide to invest heavily in a new technology, foregoing more conservative, incremental improvements in favor of a potentially transformative change.
This type of strategic commitment is important because it demonstrates the family’s willingness to adapt and innovate to ensure the long-term viability of their enterprise. It can revitalize a stagnating business, expand market share, or even redefine the industry landscape. Historically, these decisions have been pivotal moments for family businesses, shaping their trajectories and influencing their contributions to the economy. The long-term perspective inherent in family ownership often allows for risks that purely profit-driven entities might avoid.
