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 […]