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Objective
The family business sector in County Wexford remains vibrant, successful and ambitious. These firms are a vital part of our economy, offering stability, a commitment to the long term and demonstrating responsibility to their employees and their communities
This award is to recognize Family Businesses in the County that have demonstrated significant achievements and success.
Criteria
Business Background
Tell us about your Family Business and the industry you operate in. Demonstrate the uniqueness of your brand or quality in products, services and delivery mechanisms. Tell us about the family members that work in the business and how it is structured in terms of responsibilities, decision making and co-operation. Define how being family owned helps with the success of your business.
Business Planning and Governance
The key findings from PwC’s 2019 Irish family business survey show that growth is on the agenda in spite of disruption. The survey also highlights that Irish family businesses recognise that a clear sense of values and purpose can increase revenues, that they have more to do on strategic planning and succession, and that Brexit, talent and profitability are top family business challenges.
Can you demonstrate that you have robust strategic plans in place that links the future with the here and now? What Family governance arrangements have you put in place and how are these aligned to objectives and corporate governance of the business?
Digital
Irish family businesses (40%) feel more vulnerable to digital disruption compared to global counterparts (30%), up from 26% in 2016. They also need to step-up digital capabilities: 40% expect to have made significant steps in terms of digital capabilities in the next two years but global counterparts will have taken greater strides (57%)Can you demonstrate that your future plans include actions that will allow you to innovate and keep pace with the challenges that technology and digital pose?
Customer service is an integral component of all successful family businesses. Demonstrate how your business cultivates a culture of customer service excellence. What metrics are in place to evaluate performance from a customer service perspective? What actions have been taken to improve customer service performance within the organisation?
Customer Centric
Customer service is an integral component of many successful family businesses. Demonstrate how your business cultivates a culture of customer service excellence. What metrics are in place to evaluate performance from a customer service perspective? What actions have been taken to improve customer service performance within the organisation? Have you thought about the Values that you would like your family business to be known for?
The above will be assessed in the context of the size and resources of the business. Please note that all criteria might not be relevant to your business.
See www.pwc.ie/reports/family-business-report-2019.html for a copy of PwC’s 2019 Family Business Survey Findings
Please note: Financial details will be requested at time of interview