Through multiple generations of management, and multiple business areas and geographies, B.Grimm (which was founded in Bangkok in 1878), has managed to cultivate a spirit of innovation and empowerment among its staff.

Standout Quotes:

• “All the family members that are not in the business are just as important because they also form who you are, form your opinions, and influence you in some way” – [Caroline Link]
• “I think the most important thing that we invest in, is our reputation and that is really the most important thing that we have” – [Caroline Link]
• “Being a family business; that really helped in a way because these strong values, they weren’t only passed on when you became a leader within the company, but they were lived in the household” – [Caroline Link]
• “Keep working on yourself, and if you want things to change you have to initiate it and change yourself” – [Caroline Link]

Key Takeaways:

• Caroline explains that the resilience of the family business over time was born from the entrepreneurial spirit in the leaders, as well as a strong culture that is value and purpose-driven
• A family business is different from normal business; families come from a place of love, harmony, and support, and it’s important to look at this dynamic
• Caroline describes that the most important thing the business invests in is “Reputation”, and a lot of the reputation is based on the company's purpose and culture.
• Following an exercise aimed at creating an in-depth definition of the company as a whole, it was realized that the key to the success of the company, even from the founders, was an inherent drive towards helping society and creating value.
• Caroline also shares that a workshop on family values revealed the two main values in her family to be ”Contribution” and “Sense of Freedom”
• It is important to develop a strong sense of self-awareness; keep working on yourself, and if you want things to change you have to initiate it and change yourself
• Find what makes you happy professionally and gives you meaning, and make a contribution

Episode Timeline:

• [00:48] Meeting the guest; Caroline Link, and the B.Grimm company
• [01:33] A brief history on the founding of the B.Grimm Company up to the 3rd generation
• [06:48] Caroline shares that she was lucky her interests were aligned with many fields that the family business was already involved in.
• [08:40] How has the family business remained resilient for such a long time?
• [09:53] How the family has governed itself successfully
• [15:52] Diversifying the family wealth outside of the business
• [16:54] Caroline describes that the family strives to build an archive of the business history even though so much of it has been lost to wars and a fire accident.
• [20:23] What is the most worthwhile investment you have ever made?
• [22:01] Who is B.Grimm?
• [23:20] The two main family values shared by Caroline’s family
• [25:17] The scale of the B.Grimm enterprise
• [28:06] Caroline’s thoughts on the children being a part of the family business
• [31:58] A letter from Caroline to her Kids

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Special Guest: Caroline Link.

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Links:

• EN B.Grimm Group – Doing business with compassion for the development of civilisation in harmony with nature. — B.Grimm is one of Thailand’s oldest family-owned industrial conglomerates which Caroline Link is being groomed to run.
• Marking 140 years of success — A FAMILY-OWNED multinational conglomerate founded in 1878 and active in everything from healthcare to real estate, e-commerce, and transport; B Grimm is celebrating 140 years of success with a series of initiatives, among them an exhibition and a book.
• Prestige Online - 40 Under 40 - Caroline Link — Caroline Link is the fourth-generation heir to B.Grimm, one of Thailand’s oldest business institutions, carrying a 142-year-old tradition of “doing business with compassion.”
• The 4 virtues of B.Grimm — By marrying profit, progress and social good, Harald Link has found the secret to keeping the oldest companies eternally young.
• Caroline Link | Tatler Thailand