The family council, a means and not an end

Guest contributor: María Rodríguez García Predoctoral Researcher and Lecturer · Universitat de València Visiting Researcher · IESE Chair of Family-Owned Business The family council as a concept began gaining traction in the 1990s, when consultants and academics highlighted its relevance in terms of protecting the business family’s long-term interests and navigating potential family complexity. Under […]

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Family CEOs: aging and conservatism

According to popular wisdom, people tend to get more conservative as they age. But is this actually true? And if so, how does it impact CEOs and the organizations they lead? If we look to previous research, business leaders indeed show a tendency toward risk aversion as their corporate careers wind down, favoring quick wins […]

Succession, the monumental question

The topic of succession has a long history and has never been limited to the exclusive domain of family business. Putting it into perspective can give us a deeper understanding of its importance in all organizations, both family- and non-family-owned. After writing this post, I thought it was perhaps more suited to an academic readership, […]

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Purpose is strategy

According to Grant F. Reid, CEO and president of Mars, “Performance without purpose is meaningless, and purpose without performance is not possible. It’s the magic combination.” For Mars CFO Claus Aagaard, “Private ownership provides a great platform to live our purpose as we can do the right things and faster without the worry of the […]

3 distinct approaches to collaborative philanthropy

As the literature on collaboration clearly notes, the less structured and defined a collaborative mission, the greater the importance of superordinate social concepts like shared values, shared purpose and shared perspectives to ground these partnerships. Since these superordinate dimensions are based on relatively stable psychological beliefs and individual constructs, it is even more important to […]

Family business and globalization

My colleague Prof. Marta Elvira asked me if I could write about family business and globalization. I do so with pleasure but with the fear that some readers might find my conclusions disappointing. In this post, I won’t refer to large corporations but to medium-sized companies, defined by the European Union as firms with revenues […]

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What’s the link between purpose and the bottom line?

A clear purpose drives results. These are the words of Claudine Gartenberg, a Wharton School professor and co-author of one of the largest studies ever conducted on corporate purpose. According to Prof. Gartenberg, purpose is “a set of beliefs about the meaning of a company’s work beyond quantitative measures of financial performance.” In a recent […]