Scaling a Family Business While Maintaining Founding Values

  • 📰 HarvardBiz
  • ⏱ Reading Time:
  • 132 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 56%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

HBS senior lecturer Henry McGee and CEO Jessica Johnson-Cope discuss building multigenerational success.

One of the oldest Black-owned security firms in the United States, Johnson Security Bureau, provided mainly unarmed guards to New York banks, public works, and hospitals. The company’s status as a woman-owned, minority-owned firm had been crucial to its competitive strategy since CEO Jessica Johnson-Cope took over the firm from her father.

BRIAN KENNY: That’s a good way to start. Jessica, let me turn to you for a minute. It’d be great if you just tell us a little bit about Johnson Security Bureau. How would you describe it in your own words? And I know your journey began after your father passed away, that’s when you stepped in to take over the business as the case describes it. Can you tell us more about what it was like for you to step into those shoes? It’s got to be a really difficult thing to be able to do.

With technology and with the type of partners we have, being able to scale geographically is more of a reality now than it was when my grandparents started the business. So those were some of the key considerations.

BRIAN KENNY: Yeah. Yeah. It’s a fabulous program. When we did the show, it was probably five or six years ago, so they were coming up on their 10th anniversary at that time. So really glad to see that it’s still thriving. But let’s go back to the other part of the question, which is minority business owners face a whole set of challenges that other business owners don’t face.

BRIAN KENNY: Yeah. This is a key theme that I think we see run through a lot of challenges that family-owned businesses in particular face, which is you have the originator of the business, who’s got a vision, who’s got the core values, who’s setting the tone.

HENRY MCGEE: Yeah. Yeah. Brian, if we could go back and talk a bit about Jessica’s success, which is so much based on the values that were handed down to her by her family.

HENRY MCGEE: I think that they would describe her as a combination of being both inspirational but also forceful. There as you know, many theories about the value of leadership from behind. She’s very, very much in the leading, leading by example.

JESSICA JOHNSON-COPE: Some days you just get decision fatigue, and you don’t have the strength to see things clearly. So you call in the reinforcements. Who’s on the bench? Is it Aaron Rodgers or is it Patrick Mahomes? I want to go to Patrick Mahomes if I have decision fatigue.JESSICA JOHNSON-COPE: But I understand what I know and what I don’t know.

HENRY MCGEE: Several things. First, I think that understanding both your market and market trends very, very important. If you are in a mature business, be aware of that and think about how you’re going to compete in a mature business. In Jessica’s case, for example, while she’s in the security business, has been around for a long, long time, it is mature. There are also segments that are growing to cyber security. So her strategy is to move into cyber security.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 310. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Live Webinar on January 22: A Business Building & Scaling Guide for Neurodivergent Female EntrepreneursRegister below and gain access to this webinar for neurodivergent female entrepreneurs on Wednesday, January 22, at 1pm ET. Sign up and receive the free webinar replay link as well!
Source: ADDitudeMag - 🏆 311. / 61 Read more »

Scaling a Business: Glossier's Marketing StrategyThis episode of HBR On Strategy explores how Glossier, a direct-to-consumer beauty brand, successfully scaled its marketing efforts while maintaining its authenticity. Senior lecturer Jill Avery analyzes Glossier's approach to leveraging micro-influencers and existing communities to drive growth.
Source: HarvardBiz - 🏆 310. / 63 Read more »

Family of UnitedHealthcare CEO suspected killer has big business empireLuigi Mangione, who was arrested and charged with the murder of UnitedHealthcare CEO Brian Thompson, comes from an influential business family in the Baltimore, Maryland, area.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Chris Columbus Talks Nosferatu, Family Business and Christmas Movie MayhemDirector Chris Columbus, known for his heartwarming holiday films, delves into his latest project, the eerie horror film Nosferatu. He discusses his collaboration with writer-director Robert Eggers, his fascination with the macabre, and his decision to produce the film with his daughter, Eleanor. Columbus also shares behind-the-scenes anecdotes about past projects, including his experience with Chevy Chase on Christmas Vacation and Donald Trump's cameo in Home Alone 2.
Source: VanityFair - 🏆 391. / 55 Read more »

Rocket Lab CEO Balances Billion-Dollar Business With Family DinnersPeter Beck, CEO of Rocket Lab, manages a demanding schedule of 12-20 hour workdays, but still prioritizes family dinners. The article explores his work-life balance strategies and the challenges of leading a high-stakes space exploration company.
Source: nbcsandiego - 🏆 524. / 51 Read more »

Biden’s three biggest lies about his family’s shady business dealingsThe Hunter Biden pardon didn't end the discussion of President Joe Biden's legal issues. It did protect the Big Guy, but a congressional investigation showed how much Joe lied.
Source: FoxNews - 🏆 9. / 87 Read more »