Last year, after the 2nd annual Global Family Enterprise Case Competition I posted an article on how the business of family business is continuously growing. The article recently published by the Family Firm Institute referencing the growing field of university-based family enterprise education can further demonstrate this....Read more
“The authors argue that the same attributes that have long been vilified as weaknesses of family businesses – stable strategies, clan cultures, lifetime tenures – have actually created formidable competitive advantages for many of these firms…..these family owned businesses not only dominate their markets for twenty years to hundred plus years but did so by...Read more
It goes without saying that the long-term success of any business is contingent on having competent management. Family business owners also recognize this key element of long-term survival. Many of them pay particular attention to ensuring that the next generation family managers, leaders and owners have the skill sets required to run the family business....Read more
Family Business Succession: Managing the All Important Family ComponentSo what is going wrong with family businesses and the succession process? They say that 70% will not make it to the 2nd generation and an alarming 90% won’t make it to the 3rd. Surely, the owners of family businesses cannot be held...