YCH Group How to remain an innovative family business across generations Marleen Dieleman Sophia Xuefei Qiu
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Briefly describe how YCH Group has maintained its competitive advantage by leveraging innovation to remain innovative and relevant to changing market trends. How do they approach innovation within the family business model and what strategies have they employed? In answer, explain how YCH Group has maintained its competitive advantage and how it has successfully executed its innovation strategy within its family business model. Discuss the importance of family-oriented culture in this context and the ways in which YCH Group has leveraged this culture to support innovation and drive business growth.
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YCH Group How to remain an innovative family business across generations Marleen Dieleman Sophia Xuefei Qiu “Family businesses are not just businesses, they are a part of the community. They are family, and they have a duty to protect and serve their community. ” The author is Marleen Dieleman, the granddaughter of YCH Group’s founder. Sophia Xuefei Qiu, the daughter of the current CEO. The author believes that family businesses can be both
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I am pleased to be part of the YCH Group as a board member for several years now. I feel a sense of pride in being a part of this successful company, which has grown significantly since the days of my grandfather who started this business in the Netherlands in 1972. It is an honor for me to contribute to the continuity of our legacy by representing the younger generation of the family. In this essay, I would like to explore the ways in which the YCH Group has successfully remained innovative and remains relevant across generations. I will provide some ins
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(25 words) We are the YCH Group, an innovative family business based in the Netherlands. Our core values are: creativity, innovation, respect, teamwork, and collaboration. Learn More We operate in a highly competitive market environment, and our company culture is a unique mix of innovation, team spirit, and tradition. Background and context (10 words) At the core of our success is our family ownership model, which has allowed us to maintain our entrepreneurial spirit and a family-oriented corporate culture. The
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1. Keep the company’s DNA and culture, but be open to change. Remaining an innovative family business requires constant adaptation, innovation, and disruption of tradition. At the core of every family business is its DNA and culture. A family’s DNA is their core values, norms, and standards that shape their daily operations and long-term business strategies. Family members often act on behalf of the business, but the business remains an extension of the family. The family’s DNA will evolve as the business does. As we move forward,
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The concept of a family business is becoming less common as family members reach their 40s. The 2007 report “Evolution of the Family Business” by Deloitte reveals that around 54% of the 311 large, privately held companies worldwide are “family-controlled or family-run”. But this is not the case for all family businesses, and the evolution of a family business remains unique. YCH Group, founded by Marleen Dieleman (the ‘M’), is one example that shows
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The YCH Group is a conglomerate comprising 16 manufacturing and trading subsidiaries and is managed by a board of directors that represents generations. The group was started by my grandfather, YC Ho (his surname). His entrepreneurial spirit and his determination to succeed have been the driving forces behind my parents’ success. I grew up around the YCH Group’s family-based business culture and it’s always been an important part of my upbringing. When I joined the organization in my late twenties,