5 strategies for a new model of family business

As Heraclitus said more than two millennia ago, “Nothing is permanent except change,” yet the very nature of change has shifted dramatically in today’s volatile, hyperconnected and fast-paced world.

Family firms are generally better equipped to weather the storm thanks to their comparatively longer-term perspective and financial resilience. Yet other traits aren’t as positive, says thought leader and MIT lecturer John A. Davis.

In this HBR article, he outlines five essential strategies for a new model of family business, starting with “control less and collaborate more.”

Transforming a Family Business in Turbulent Times

Homepage image: Dan Musat on Unsplash