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Balancing Tradition and Modernity in Family Enterprises
Episode Description:
Growing up in a hotel teaches you more than just how to swim and ride a bike—it shapes your entire outlook on life and business. This episode brings you an intimate conversation with Libby Lok, a third-generation family business stakeholder, who shares her vibrant experiences of being a "hotel kid." Discover the invaluable life skills she gathered amidst the hustle of hotel life, and get an insider’s view into the familial bonds and cultural inclusivity that form the backbone of family-run enterprises. From creating roles tailored to individual strengths to fostering employee loyalty through traditions like potlucks, Libby reveals the unique dynamics that make family businesses so special.
Navigating cultural complexities in Chinese family businesses requires more than just business acumen; it demands a deep understanding of hierarchical, patriarchal, and collectivist values rooted in Confucian traditions. We explore the challenging balance of reconciling Western conflict resolution methods with these traditional values through Libby’s personal anecdotes. This segment offers profound insights into how cultural practices subtly shape decision-making and relationships within family firms, and underscores the importance of cultural sensitivity to foster a more inclusive work environment.
Facilitating open dialogue in a family business can feel like walking a tightrope, especially when authoritative figures resist change. Libby recounts her attempts to bring in various consultants to address business challenges, only to find that deeply ingrained family dynamics often thwarted progress. The episode takes a heartfelt turn as we discuss the difficult, yet necessary, decisions some family members must make for personal well-being, including stepping away from the business. Libby shares her healing journey, emphasizing mindfulness and introspection as tools for finding balance and creating a fulfilling life beyond the realm of the family business.
Highlight Time Stamps:
(02:10 - 04:36) Growing Up in a Hotel
(14:18 - 17:18) Themes in Chinese Family Businesses
(23:19 - 25:33) Conflict Resolution in Family Business
(27:56 - 29:17) Family Business Facilitation for Change
(35:01 - 36:44) Navigating Pressure as Family Business Consultants
(38:11 - 39:28) Family Business Consultant's Use of Humor
(45:22 - 47:33) Finding Balance in Career and Parenthood
Connect with Libby Lok:
LinkedIn: https://www.linkedin.com/in/libbylok/
About Libby Lok:
Libby Lok is a third generation family business stakeholder and Family Business Consultant. She grew up as a hotel kid living at one of her family's hotels - learning to swim, riding a bike, befriending all the hotel staff and guests. After college she spent ten years in the social sector doing strategic planning, community engagement, consulting, and applied research. At a turning point in the family business, Libby thought she could lend her skills to her family to figure out their short and long term goals. However it was much more complicated than anyone anticipated. After being promoted to President of her family business, and four consultants later, Libby encountered too much resistance and with a heavy heart left. Upon her job search Libby stumbled upon the field of Family Business Consulting and began to create the advising services she once desperately searched for. Currently Libby lives on the Central Coast of California with her husband and two young children. Libby helps families work together in finding cohesion in their strategy because she believes family businesses are precious and can actually be sustained for generations.
Connect with Dr. Donna:
LinkedIn | https://www.drdonnamarino.com/
Sign up for my Newsletter: https://www.drdonnamarino.com/newsletter-sign-up
Learn more about Dr. Donna’s Executive Coaching:
- Get your copy of Dr. Donna’s book, Unleash the Wise Leader in You! on Amazon.
- Learn more about Leadership & Team Trainings for Family Businesses
- Find out if our Women’s Leadership Group is right for you.
Podcast Category:
Business: Management
Business: Careers
Podcast Artist Name: Dr. Donna Marino
Show Email: [email protected]
Show Website URL: https://www.drdonnamarino.com/
View all episodes
By Dr. Donna MarinoEpisode Description:
Growing up in a hotel teaches you more than just how to swim and ride a bike—it shapes your entire outlook on life and business. This episode brings you an intimate conversation with Libby Lok, a third-generation family business stakeholder, who shares her vibrant experiences of being a "hotel kid." Discover the invaluable life skills she gathered amidst the hustle of hotel life, and get an insider’s view into the familial bonds and cultural inclusivity that form the backbone of family-run enterprises. From creating roles tailored to individual strengths to fostering employee loyalty through traditions like potlucks, Libby reveals the unique dynamics that make family businesses so special.
Navigating cultural complexities in Chinese family businesses requires more than just business acumen; it demands a deep understanding of hierarchical, patriarchal, and collectivist values rooted in Confucian traditions. We explore the challenging balance of reconciling Western conflict resolution methods with these traditional values through Libby’s personal anecdotes. This segment offers profound insights into how cultural practices subtly shape decision-making and relationships within family firms, and underscores the importance of cultural sensitivity to foster a more inclusive work environment.
Facilitating open dialogue in a family business can feel like walking a tightrope, especially when authoritative figures resist change. Libby recounts her attempts to bring in various consultants to address business challenges, only to find that deeply ingrained family dynamics often thwarted progress. The episode takes a heartfelt turn as we discuss the difficult, yet necessary, decisions some family members must make for personal well-being, including stepping away from the business. Libby shares her healing journey, emphasizing mindfulness and introspection as tools for finding balance and creating a fulfilling life beyond the realm of the family business.
Highlight Time Stamps:
(02:10 - 04:36) Growing Up in a Hotel
(14:18 - 17:18) Themes in Chinese Family Businesses
(23:19 - 25:33) Conflict Resolution in Family Business
(27:56 - 29:17) Family Business Facilitation for Change
(35:01 - 36:44) Navigating Pressure as Family Business Consultants
(38:11 - 39:28) Family Business Consultant's Use of Humor
(45:22 - 47:33) Finding Balance in Career and Parenthood
Connect with Libby Lok:
LinkedIn: https://www.linkedin.com/in/libbylok/
About Libby Lok:
Libby Lok is a third generation family business stakeholder and Family Business Consultant. She grew up as a hotel kid living at one of her family's hotels - learning to swim, riding a bike, befriending all the hotel staff and guests. After college she spent ten years in the social sector doing strategic planning, community engagement, consulting, and applied research. At a turning point in the family business, Libby thought she could lend her skills to her family to figure out their short and long term goals. However it was much more complicated than anyone anticipated. After being promoted to President of her family business, and four consultants later, Libby encountered too much resistance and with a heavy heart left. Upon her job search Libby stumbled upon the field of Family Business Consulting and began to create the advising services she once desperately searched for. Currently Libby lives on the Central Coast of California with her husband and two young children. Libby helps families work together in finding cohesion in their strategy because she believes family businesses are precious and can actually be sustained for generations.
Connect with Dr. Donna:
LinkedIn | https://www.drdonnamarino.com/
Sign up for my Newsletter: https://www.drdonnamarino.com/newsletter-sign-up
Learn more about Dr. Donna’s Executive Coaching:
- Get your copy of Dr. Donna’s book, Unleash the Wise Leader in You! on Amazon.
- Learn more about Leadership & Team Trainings for Family Businesses
- Find out if our Women’s Leadership Group is right for you.
Podcast Category:
Business: Management
Business: Careers
Podcast Artist Name: Dr. Donna Marino
Show Email: [email protected]
Show Website URL: https://www.drdonnamarino.com/