Liz Dee, co-president of the New Jersey-based candy company Smarties, shares how her family-owned business maintains authenticity and relevance in a crowded marketplace, as well as the leadership advice she chose to ignore. Her Company Makes an Iconic 75-Year-Old Candy Popular for Halloween. Ignoring This ‘Bad’ Leadership Advice She Received Helps Drive Its Success […]
Family business: overcoming hurdles at key crossroads
All family businesses that have effectively navigated generational handovers have faced similar challenges. One way of analyzing these challenges is through the lens of different generations, since the obstacles encountered by first-generation companies differ significantly from those faced by second, third or subsequent generations. Statistics according to the business life cycle According to data from […]
Heterogeneity in family businesses: 5 key concepts
Family businesses are the backbone of many local and global economies as drivers of both employment and economic stability. However, categorizing them as a single, uniform group limits our understanding of the numerous complexities and nuances among them. Far from a homogeneous collective, family-owned firms can differ in fundamental ways that shape their governance, strategic […]
What should companies expect from their family shareholders?
Last November, I offered some reflections regarding what family shareholders deserve from their family business. This article takes the opposite approach: what do family businesses deserve from their family shareholders? The answer is clear: responsible and efficient performance. As is often the case, this is easier said than done. Let’s start with the essence of […]
NEWS: Smarties candy, 75 years of sweet success
Liz Dee, co-president of the New Jersey-based candy company Smarties, shares how her family-owned business maintains authenticity and relevance in a crowded marketplace, as well as the leadership advice she chose to ignore. Her Company Makes an Iconic 75-Year-Old Candy Popular for Halloween. Ignoring This ‘Bad’ Leadership Advice She Received Helps Drive Its Success […]
The potential of growth equity for family businesses
The private equity (PE) landscape has evolved significantly in recent years, offering family businesses new opportunities for growth without compromising their core values. Family firms have historically been wary of PE, which often conjures images of aggressive cost-cutting, loss of control and a focus on short-term financial gains. This perception is not without merit: in […]
NEWS: Mango faces challenges in leadership succession and future direction
Following the sudden passing of Isak Andic, the founder and non-executive chairman of Mango, the Spanish fashion multinational faces its most critical challenges since its establishment in 1984. Following death of founder: Challenges Mango now faces in leadership succession and future direction Homepage image: Mango
Happiness as a strategic pillar
Far more than an abstract ideal, happiness a fundamental condition for both individual and collective success. Martin Seligman, a global authority in positive psychology, offers the PERMA model as the foundation of well-being, built upon five core components: positive emotions, engagement, relationships, meaning and accomplishment. As a professor specialized in human behavior within organizations, I’ve […]
Navigating conflict in family business
Conflict is an inherent part of human interaction, arising whenever there is a divergence of opinion or interest on a concrete issue. In the context of family businesses, the most successful organizations anticipate and manage conflict before it arises. These companies recognize conflict as a natural occurrence: if it hasn’t cropped up yet, it’s only […]
Corporate governance in family firms: 7 key concepts
The convergence of personal relationships and business objectives in family firms often gives rise to unique challenges and added complexities in their management and sustainability. In this context, solid corporate governance systems are critical to ensuring their long-term success. On November 7, IESE’s Madrid campus brought together renowned experts to analyze corporate governance as a […]
NEWS: The role of parenting styles in family firms
Much has been written about the challenges of separating personal and professional roles in family-owned firms, but instilling family values and leadership qualities begins even earlier. This article presents findings from a recent study of 119 successors serving as CEOs in their family firms and 145 employees working directly with them to identify which parenting […]
