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 […]
10 reasons why we need family businesses
Family-owned firms play a vital role in the global economy, an undisputed and internationally recognized fact. Going a step further, I would like to highlight 10 ways in which family firms positively impact the world based on my firsthand observations of how they operate and confront challenges. 1 – They drive and sustain employment I’m […]
Financial Times: we’re in the news!
We’re happy to report that our efforts to help family-owned businesses have not gone unnoticed! We hope you enjoy this recent Financial Times article and that you help us spread the word by sharing it friends and colleagues. What can business school teach a family firm?
Succession in family firms: navigating the power paradox
Many family business leaders hold two conflicting emotions as they near retirement: on one hand, the desire to pass the baton to their children, and on the other, the desire to retain control for as long as possible. These opposing aims can significantly affect the parent-child dynamic and result in a paradox in which the […]
The voice of minority shareholders in family-owned firms
Family-owned firms dominate the global economy: according to PwC’s latest Global Family Business Survey, they contribute more than half of the world’s annual GDP and generate around two-thirds of employment. Their strength is also seen in new business ventures: 85% of start-ups are launched with family money. As outlined in a previous post, an important […]
Bodegas Pradorey: where tradition meets innovation
Fernando Rodríguez de Rivera is the general director of Bodegas Pradorey, a winery located in Spain’s Royal Site of Ventosilla. Here he shares Pradorey’s “long and winding” 30-year path to success as one of the most renowned Ribera del Duero wineries. Pradorey can’t be understood without mentioning the Royal Site of Ventosilla, where the winery […]
Session with Nobel Laureate Bengt Holmström
Bengt Holmström is an MIT professor and the recipient of the 2016 Nobel Prize in Economics. In his recent remarks at the 2021 IESE-ECGI Corporate Governance Conference, he warns of a data-driven tsunami that will radically change how businesses operate and structure their corporate governance systems. Don’t miss this thought-provoking session! Video Session with Bengt […]
Collaborative philanthropy: possibility or pipe dream?
Organizations and business leaders around the world always stress the importance of teamwork but in the realm of philanthropy, most people act alone. Yet as the world’s challenges become increasingly complex and interconnected, a joint approach might be more effective to promote the common good than “going solo.” But is collective philanthropy a viable option? […]
Family members in leadership roles: when emotions eclipse meritocracy
The roles that family members want, can and should play in the family business is a central issue that firms need to address as they evolve and new generations enter their leadership ranks. Yet emotions can blur objectivity and unduly influence the decision-making process. Emotions can also run high in families, which makes decisions in […]
Are family firms really more socially responsible?
For socially responsible firms, corporate performance is more than financial statements and shareholder returns. Looking beyond the balance sheet, they aspire to serve all stakeholders, from employees, customers and suppliers, to local communities and society at large. In the realm of family-owned firms, a core dimension of this focus is socioemotional wealth (SEW), which refers […]
Nobel laureate Bengt Holmström: “We see signs of a tsunami”
In early October, IESE’s Madrid campus welcomed scholars and guests – both in person and online – to the 2021 IESE-ECGI Corporate Governance Conference, an annual event that gathers some of the foremost experts in management and economics. On the first day of the conference, I had the great honor of moderating a panel session […]
