In an era marked by trade tensions, disruptive technologies and shifting global priorities, the ability to adapt quickly can be a decisive advantage. As businesses grapple with ever-changing conditions, one approach deserves special attention: optionality. Popularized by Nassim Nicholas Taleb–former Wall Street trader, scholar and author of The Black Swan and Antifragile–optionality entails keeping multiple […]
Shared family purpose: a path to multigenerational success
Guest contributor: Tarek el Sehity Tarek el Sehity is a researcher and lecturer at Sigmund Freud University in Vienna. As Viktor Frankl wisely observed, “Life is never made unbearable by circumstances, but only by lack of meaning and purpose.” This insight holds particular relevance for family-owned businesses, underscoring the critical importance of a shared purpose […]
The “S” in ESG: social commitment in family business
Family businesses form the cornerstone of the global economy. Their ability to create employment, drive innovation and enhance social cohesion also makes them a key player in the transformation toward a more sustainable world. That said, the social dimension of ESG (environmental, social and governance) in family-owned firms remains a challenge both in terms of […]
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 […]