Keeping up with the Waltons: Business-owning Family Socialization It is widely recognized that family businesses tend to orient decision making around maintaining control of their firm, which may result in a range of “economically irrational” strategic behaviours, such as suboptimal human resource practices, governance, corporate diversification, and R&D investment, in […]
Measure and benchmark the agility level of your own organization Being one of the modern management buzzwords, the true relevance of being “agile” is often underestimated – Agility is one of the key characteristics of successful organizations. Agility is widely understood to be the highest form of organizational adaptability – an organization’s capability […]
The summer is a wonderful time to reflect, reinvent and inspire ideas. We’re not often handed time to reflect on ourselves anymore, so it’s important that we create those moments for ourselves – consciously set aside time for personal reflection and establishing aspirations for the remaining of 2018. Reflection can […]
Did you know that 1 out of 3 intrapreneurial projects give birth to a solid new business, which is 3× more efficient than entrepreneurship! In a world of aspiring entrepreneurs, it is time to value innovation within existing family businesses. Who would have thought that a family owned recruitment firm would invest in […]
“The art of communication is the language of leadership.” -James Humes Communication is a delicate dance. Messages can be misinterpreted, ideas can be misunderstood, and we often say more with our bodies than we do with our words. In a family business context, there is an added level of complexity with regards to […]
By Stephen Hecht Co-Founder & Chief Executive Peacemaker Million Peacemakers When I was 20 years old, my uncle died. It was sudden, a heart attack during a visit to our stores on the west coast. As the president of our family business, and my personal mentor, we were in deep […]
A family business advisor sits with a founder and his two daughters in a conference room in Chicago, helping the family with an intense discussion they are having about the future of their family-owned brewery. The elder daughter works in the business. Neither daughter has shares in the family company. […]
Written by Margaret-Jean Mannix Co-Chair Business Families Foundation I see for women in family business, a much greater appreciation for the different roles that they can play. I would say recognizing the significance of a supportive spouse, recognizing the role that plays in often being the calming factor for family […]
Business has been the most powerful institution on the planet since the second half of the twentieth century. Dr Willis Harman, co-founder of the World Business Academy in 1987 put forward the view that the dominant institution in any society needs to take responsibility for the whole, as the church […]
By Abigail Noble, CEO of The ImPact What do people really mean when they talk about “impact investing?” Why do people make impact investments, and how do they do it? What counts, and what doesn’t? The ImPact — a member community for families committed to making impact investments — answers […]
Compass for Entrepreneurial Families is an educational program developed by Business Families Foundation to provide business families with a better understanding of fundamental, contemporary concepts.
Need help making important decisions? We’ve spoken to hundreds of families who have lived it. We’ll ask you the tough questions to guide you in finding the right solutions for your family and your business.
Play this interactive game to keep the family glue strong and to address issues around family communication and governance.
Relatable Case Stories
Want to see how it’s done? We’ll provide you with relatable business family scenarios so you can learn how to better handle difficult situations, anticipate common reactions, and avoid unnecessary conflict.
Messages can be misinterpreted, ideas can be misunderstood, and we often say more with our bodies than we do with our words. In a family business context, there is an added level of complexity in regard to balancing family and business communication.
Family Business Interviews
Searching for advice? We’ve collected hundreds of interviews. Listen to your peers speak about overcoming challenges and learn from their triumphs and failures to set your family and business on track for success.
Listen to David as he shares a personal anecdote regarding the introduction of a family business to the new generation. Introducing the company's history to the new generation can spark passion and loyalty at a young age. This passion is especially important to family businesses who often rely on the next generation as successors of the business.
Advice From Leading Experts
Seeking solutions? Hear from our specialists on best practices and strategies for dealing with common and complex family business issues. Take advantage of the knowledge and expertise they have to offer.
Watch Professor John Davis of Harvard Business School talk about the importance of reinforcing partnering between the junior and senior generations in a family business. In a family business, it is important to familiarize the rising generation with the business early on, so that they can take on responsibilities sooner.
Passionate about family business? Browse our interesting and thought-provoking collection of family business tips, tricks and stats! In reading them, we promise you’ll learn a thing or two about family business.
For some, the notion of working with a husband or wife is a desirable personal and professional scenario. If this partnership works well, husband-wife businesses are spectacular. However, if it does not work out, it can be devastating for the company and the marriage. But what do you need to consider when it comes to setting up a business with your life partner?