Values of priority in family business: A comprehensive analysis

Family businesses are fundamental to the global economy, contributing significantly to employment and innovation. This research examines the values that family business entrepreneurs prioritize, exploring how these values influence their operations, decision-making, and long-term sustainability. Utilizing a survey-based approach and the Friedman test, the study identifies fourteen key values, ranking them based on their perceived importance among family business owners. The findings reveal that educational values rank highest, underscoring the commitment to continuous learning, followed by economic and business values. This paper discusses the implications of these findings for family business practices and offers recommendations for fostering a values-driven culture. Ultimately, it highlights the integral role of values in shaping the identity and legacy of family businesses.