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 […]
Navigating reputation: a delicate balance for family firms
For family businesses, reputation is everything, past, present and future. It’s about maintaining a positive image today, while preserving a legacy that can be passed down through generations. More so than non-family firms, where the business and employees’ personal lives often occupy separate realms, family firms are deeply connected to their reputation. This also makes […]
NEWS: The messy Murdoch succession drama, explained
Rupert Murdoch’s News Corp is navigating a court case that will impact the company’s future by determining how its voting shares will be divided among his four eldest children. The outcome of the succession process could have major implications for his media empire, as well as its role in shaping U.S. and global politics. The […]
Leaving a legacy: the importance of instilling shared values
The ultimate goal of any family business is to create a legacy for future generation. To achieve this, family firms strive to ensure that the wealth they generate (or inherit) grows on a solid financial foundation for the benefit of their descendants. But there’s more to it than that. Even more important is their ability […]
Our mission: offering integral support for family-owned firms
It is both an honor and a privilege to serve as the new holder of IESE’s Chair of Family-Owned Business, which in 1987 became the first of its kind in Europe. Deep ties to family business Throughout the years, the Chair has witnessed profound shifts in the global business landscape while remaining true to its […]
2023-24 Annual Report
As another academic year winds down, we are pleased to share our 2023-24 Annual Report, a showcase of the Chair’s ongoing efforts to serve the global family-business community. On a personal note, this post also marks my last as the holder of the Chair of Family-Owned Business. Starting September 2024, Prof. Álvaro San Martín will […]
Succession, succession and succession
Sooner or later, all family businesses face succession processes. Ideally, these are founded on professional criteria and approved by both predecessors and successors. The lack thereof is an all too frequent mistake and the most common source of conflict in family-owned firms. Movie: YES. Ongoing series: NO A generational handover should be framed as a […]
Balancing socioemotional wealth and financial goals in family business
Family firms are integral to the global economy, driving positive change by pursuing both financial objectives and the generation of socioemotional wealth (SEW). Developed by Prof. Luis Gómez-Mejía, socioemotional wealth in family firms encompasses a number of non-economic factors including family control, values, legacy, transgenerational vision, pride of belonging and emotional connection. The dual role […]
NEWS: Carlos March Delgado resigns as chairman of the board of Banca March
Carlos March Delgado has stepped down as the chairman of the board of Banca March at the age of 78 after serving as the longest-serving chairman of a Spanish bank (1974-2015). Learn more about his long and brilliant professional career (article in Spanish): Carlos March Delgado announces his resignation as chairman of the board of […]
4 decision-making models in family firms: which is best?
Among their unique characteristics, family businesses pursue both financial goals and non-economic aims such as preserving the family legacy and promoting community development. This dual perspective can lead to misalignment among family members regarding organizational priorities, while raising important questions: How should family firms integrate divergent perspectives in their decision-making processes? What’s the best structure […]
Times of change and opportunity are coming for Spain’s family-owned firms
* This article originally appeared in the newspaper “Expansión” on May 4, 2024 under the title “Llegan tiempos de mudanza y oportunidad para la empresa familiar.” Family firms require solid corporate governance in order to maintain their relevance as engines of growth and employment. Spain’s corporate world has garnered global media attention in recent weeks […]
