Balancing Priorities: Shareholders and Stakeholders in a Family Business
In his latest article for Family Business Magazine, George Jackoboice reflects on a core tension in every family enterprise: how to meet the needs of both shareholders and stakeholders. Drawing from his experience as President of Monarch Hydraulics—a fifth-generation family business ultimately sold after more than 150 years—George offers a compelling look at what it takes to strike that balance.
The article, Balancing Priorities to Build a Lasting Legacy, explores the distinction between those who own the business and those who are impacted by it, reminding readers that long-term success depends on honoring both. George illustrates how inclusive leadership can strengthen not only the business, but also the relationships that sustain it, sharing vivid examples of how his family supported and empowered stakeholders:
A gainsharing program that rewarded all employees with monthly bonuses
A partnership with an inventor with muscular dystrophy that helped build a national mobility company
A long-standing relationship with a local metal fabricator that deepened over generations
Simple weekly traditions like personally handing out paychecks to foster connection
This is more than a story of good governance—it’s a call to think expansively about legacy. When shareholders understand their impact, and stakeholders feel seen and valued, the family enterprise becomes something greater than the sum of its parts.
