The decision to integrate non-family executives into a family business is often described as a pivotal moment of “professionalization.” According to conventional wisdom—frequently reinforced by advisors—seasoned outsiders inject discipline and boost performance. While non-family managers are critical to the growth of many family firms, academic research shows that their positive impact is not automatic. Hiring […]
Four insights to maximize non-family leadership
The decision to integrate non-family executives into a family business is often described as a pivotal moment of “professionalization.” According to conventional wisdom—frequently reinforced by advisors—seasoned outsiders inject discipline and boost performance. While non-family managers are critical to the growth of many family firms, academic research shows that their positive impact is not automatic. Hiring […]
How to foster a family culture grounded in love and service
A father watches his older daughter patiently help her little brother tie his shoelaces. She doesn’t show off or give instructions; she’s simply there, helping him at his pace until he gets it right. This simple interaction captures something profound: in a family, love isn’t measured by how we feel but in what we do […]
Family businesses are far more than surnames and shareholdings
During a business school case session, a participant asked what seemed like a simple question: “Is this a family business?” The class began with standard definitions: family ownership, board control, multiple family members in management roles…Then someone made a remark that transformed the discussion: “A family business is one where the family actively strives to […]
Intergenerational dynamics: conflict or collaboration?
Years ago in a family business, both the president (father) and CEO (son) made the same confession: “We constantly clash and argue in every meeting—right in front of our managers.” I told them we needed to find a solution. Their response came in unison—blunt and unequivocal: “This problem has no solution.” I decided to take […]
Legacy and Future Family Business Conference
Guest collaborator: Dominique Nelson (MBA ’26) President of the MBA Family Business Club The Legacy & Future Family Business Conference grew out of an amazing experience shared by a group of IESE MBA students, all members of the Family Business Club. In March, more than twenty of us traveled to Harvard Business School for the […]
EVENT November 15: Family Business Legacy and Future Conference
On Saturday, November 15, IESE will host its first student-led conference on family business, organized by members of the MBA Family Business Club. Under the theme “Legacy and Future,” the event will gather family business leaders, investors, experts and MBA students to explore succession planning, governance frameworks and purpose-driven growth strategies, among other issues. The […]
Multigenerational family firms: the four pillars of values transmission
Guest contributor: Tarek el Sehity Tarek el Sehity is a researcher and lecturer at Sigmund Freud University in Vienna. As explored in the first article of this two-part series, core family values represent a central differentiating factor between family and non-family enterprises, as well as a strategic driver. Rather than a static, top-down process, our […]
Longchamp, leadership guided by family values
Building on our previous article on the strategic importance of family values, this week we offer the real-life case of Longchamp, a family business that has successfully translated its core values into a competitive advantage. Founded in Paris in 1948, the company is led by Jean Cassegrain, a third-generation member of a family that has […]
Family values: legacy is co-created, not handed down
Guest contributor: Tarek el Sehity Tarek el Sehity is a researcher and lecturer at Sigmund Freud University in Vienna. “For things to remain the same, everything must change.” Giuseppe Tomasi di Lampedusa, The Leopard This enduring wisdom captures a fundamental truth for business families that have withstood the test of time: preserving the values that […]
Challenges from the 2nd generation and beyond
In a previous article, we analyzed the key hurdles faced by family businesses based on their life cycle. In this post, we’ll turn our focus to the challenges they encounter in their transition from the second to the third generation and beyond. The second generation: reorganizing ownership and managing divergent interests After successfully navigating the […]
