Over the years, the Chair of Family-Owned Business has written extensively about one central idea: strong families don’t automatically evolve into strong owners. Solid values, commitment and a long-term perspective are real advantages of family ownership, but they only translate into sustainable performance when supported by robust governance. In many family firms, governance issues might […]
We have a succession plan—are we actually following it?
What happens when a family council agrees on a succession plan entailing both current and next-generation leaders, but some family members fail to follow through? Consciously or unconsciously, their day-to-day actions slowly deviate from what was agreed and expected. The result: the succession process starts to derail. Imbalances and interference come into play, leading to […]
Between prudence and paralysis: three strategies to advance in uncertain times
Reading the Harvard Business Review article “How to Lead When Things Feel Increasingly Out of Control,” I was struck by its particular relevance for family-owned firms—businesses often criticized for delaying critical decisions and missing opportunities amid uncertainty and volatility. This perception notwithstanding, many family businesses bring decades of hard-won experience in navigating uncertainty. They have […]
Agile and purpose-driven: the formula for economic growth in 2026
In a context of rising market volatility, agile and purpose-driven family-owned firms continue to outperform their peers, recording growth of 31% compared with 21%, according to PwC’s 2025 Global Family Business Survey. The 1,325 family businesses surveyed reported an increased emphasis on reputation and legacy, with 23% focused on stabilizing the core business, up from […]
Integrated family capital: the four pillars of genuine wealth
Guest collaborator: Pedro Vázquez Pedro Vázquez is an associate professor of business policy, academic director of the Center for Family Business, and holder of the Chair of Organizational Governance at IAE, located in Buenos Aires, Argentina. When the topic of business families arises, the conversation almost invariably turns to money: How much is the company […]
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 […]
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 […]