Family Business

 

Prof John Davis on Millennial Mindsets in the Family Enterprise

Podcast Recorded: February 2020
  • Innovation & Entrepreneurship
  • millennials
  • Leadership & Change
Podcast Guest: Prof John Davis

Family enterprises face big challenges in order to survive and thrive in our era of rapid technological and market disruption. Having to adopt to new business models, and accept changing customer loyalties, they must also address changing attitudes and aspirations within the family itself, as the Millennial generation takes the reins of the family business.

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Photo by Ian Schneider on Unsplash

Transgenerational Entrepreneurship in Family Businesses

Idea posted: June 2018
  • Innovation & Entrepreneurship
  • Leadership & Change

The author of this research, Maria Jose Parada, teaches on the CEMS Masters in Management program at ESADE - and this Idea is part of our CEMS series.

Managing the family as well as the family business, maintaining dynamic portfolios of businesses, and ensuring continued family control of the organization are some of the factors for keeping family businesses entrepreneurial across generations.

Idea #708
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Good Profit

Book Published: August 2017
  • Leadership & Change
  • CSR & Governance
  • Innovation & Entrepreneurship
  • Boards Roles Responsibilities
Authors: Charles G. Koch

The book is a personal manifesto around Koch Industries 'Market-Based Management' approach. MBM is, at root, an extension of the old philosophy argument personified by Locke and Rousseau vs Thomas Hobbes; are people generally good and community spirited, or mean and self-serving? Koch's approach is that left to our own devices (by which he means minimal government interference) people will seek out what is best for the wider eco-system they live in.

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Parable of the Unjust Steward, Jan Luyken, c.1680

Stewardship Climate Scale Highlights Stewardship Behaviours in Family Firms

Idea posted: March 2017
  • Innovation & Entrepreneurship
  • Leadership & Change

New survey research lays the framework for a new Stewardship Climate Scale that, in one of its first applications, reveals that stewardship is more likely (and more potent) in family firms than in non-family firms.

Idea #648
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Global Family Business Index: 2017

News Analysis: April 2017
  • Innovation & Entrepreneurship

The annual ranking of family businesses from the Family Business Centre at St Gallen University in Switzerland. The ranking lists the top 500 largest businesses in the world that...

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Composition VI, Wassily Kandinsky, 1913 (Courtesy: The State Hemitage Museum, St Petersburg)

A Symphony of Agency and Stewardship Values Ensures Family Business Success

Idea posted: May 2015
  • Strategy
  • CSR & Governance
  • Innovation & Entrepreneurship
  • Leadership & Change

Agency theory describes a contractual relationship between managers and shareholders who have divergent interests. Stewardship theory describes a collaborative relationship between managers and shareholders toward shared goals. Which works best for family businesses? New research reveals that a combination of the two, changing as the business moves through its lifecycle, offers the best recipe for success. 

Idea #518
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Family Portrait, Cornelis de Vos, 1631 (Source: Wikimedia Commons)

Surviving a Recession: Seven Lessons from Family Businesses

Idea posted: June 2014
  • Strategy
  • CSR & Governance
  • Innovation & Entrepreneurship

Family businesses tend to outperform companies with more dispersed ownership structures during economic downturns. Their ‘star’ quality is resilience — and it results from a set of strategic choices that put the long-term interests of the business first.

Idea #400
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Madhubani, or Mithila, painting from Northern India (Source: mithilapaintingtraining.blogspot.co.uk)

Family Business in India: Meeting 21st Century Challenges

Idea posted: October 2013
  • Strategy
  • CSR & Governance
  • Innovation & Entrepreneurship
  • Marketing

With 75% of the Indian workforce employed by a family-owned business, how they are run and what challenges they face will be of interest both to organizations in the country and to those interested in doing business there. In this Idea, some of the key features of India’s family-owned businesses are looked into, and some advice is offered to such firms for their long-term success.

Idea #235
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Man and boy making shoes. Reproduction of a painting by Louis Emile Adan (1839-1937), © Braun & Co., N.Y. (Source: Wikimedia Commons)

Family Business Ownership and the Next Generation

Idea posted: July 2013
  • CSR & Governance
  • Innovation & Entrepreneurship
  • Leadership & Change
  • Learning & Behaviour
Institutions: IESE Business School

Most owners of family businesses want to ensure that their firm stays in the hands of the family for generations to come. This is not impossible to achieve. In this Idea, some practical steps that senior managers can take to ensure next-generation members are committed to the family business are outlined. The key is to develop a sense of “psychological ownership.”

Idea #174
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The Addams Family. TV series on ABC from 1964-1966, 20th Century Fox Home Entertainment (Source: Wikimedia)

The Ties That Bind: How Family Businesses Create Value

Idea posted: March 2013
  • Finance
  • Innovation & Entrepreneurship
  • Operations

Family businesses contribute a significant proportion of GDP to economies worldwide, yet they are not always seen as attractive propositions to investors.

On the one hand, family-controlled businesses are admired and respected for ‘weathering the economic storms’, for adhering to their core values, and for taking a long-term approach. On the other hand, the very thing that knits them together, the family shareholders, can have different priorities to other shareholders, creating a conflict of interest which can be an obstacle to value creation.

How can these companies

Idea #109
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