Family enterprises are among the oldest and most important institutions in the world, and they play a crucial role in the world economy and society. They are however confronted with unique challenges, many of which are more pronounced in today’s fast-paced, uncertain, and highly volatile environment, requiring families to rethink some of their core principles and beliefs.
To ensure multi-generational unity and success, enterprising families need to successfully navigate these turbulent times by building on their core strengths – a solid financial foundation, strong values, multi-stakeholder-centric decision making, loyalty and a long-term perspective.
At the same time, they need to embrace the new world and think about ways to challenge the status quo and think about the most adequate setup for future success. Families today are:
- starting to take a more holistic view of their family enterprise system,
- striving for world-class family-, ownership-, business and wealth governance
- professionalizing their business leadership
- embracing a holistic and collective ESG approach, spanning their various business and investment activities
- rethinking their approach towards succession & NxG development
- increasingly fostering entrepreneurialism from within the family
- considering a more diversified investment strategy, including direct investments
- seeking to manage increasing complexities by setting up or joining a family office
Speaker:
Professor Peter Vogel- Professor of Family Business and Entrepreneurship, IMD Business School
- Holder of the Debiopharm Chair for Family Philanthropy, IMD Business School
- Director of the IMD Global Family Business Center