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Intergenerational thinking and a long-term perspective ensure the preservation of the company's assets.
Collaboration with regional businesses keeps the value added right here in the region.
Communication on an equal footing and employee involvement foster innovation within the company.
The preservation of socio-emotional wealth shapes corporate decisions beyond purely economic goals.
Abstract of the Study
Ethical and responsible leadership is considered a key approach to aligning business decisions with social and moral standards over the long term. While existing research primarily examines normative foundations and individual characteristics, it remains unclear how ethical leadership can be sustainably embedded in organizations.
Based on guided interviews with executives and hoteliers at family-run four- and five-star hotels, this study identifies five key dimensions: long-term orientation, a values-based culture, stakeholder orientation, family influence, and an innovation- and participation-oriented implementation.
By combining socio-emotional wealth (motivational dimension) and social capital theory (relational dimension), this study analyzes and discusses how ethical leadership is permanently embedded in family businesses.
Key findings of this study
- Long-term orientation: The study identifies a long-term focus and cross-generational thinking as central pillars of ethical leadership. Business decisions do not focus on short-term profit generation but rather ensure the long-term survival of the business.
- Value-Based Corporate Culture: A values-driven culture firmly anchors principles such as trust, harmony, and sustainability in the day-to-day operations of the hotels. This orientation guides everyday decisions according to moral standards and prevents the exploitation of resources.
- Stakeholder Orientation and Regional Roots: Ethical leadership emphasizes the cultivation of local networks and strong employee loyalty. By prioritizing collaboration with regional businesses, value added remains directly within the region.
- Family Influence and Shaping: The family background significantly shapes leadership behavior through the transmission of values, upbringing, and intergenerational exchange. The desire to preserve the family’s socio-emotional wealth reinforces the commitment to responsible action.
- Participatory and Innovative Implementation: Practical implementation combines open communication on an equal footing with participatory innovation processes. By involving all employees, creative ideas and adaptability emerge at all organizational levels.