John walked into the corner office. He had just been named CEO a week earlier, following his father’s unexpected death. He had spent twenty years working alongside him, preparing for that moment. He was the designated successor. And yet, sitting in that chair for the first time, he realized he had inherited the title, the […]
Women in family business
Around the world, women are increasingly taking charge of their family businesses and reaching breakthrough levels of success. In many cases, they are the first generation of women to take the reins from older male relatives. With International Women’s Day around the corner, this New York Times article about daughters of family vineyards is especially […]
Five ways to get the most out of family assemblies
Shareholders often span different generations in long-consolidated family firms, and not all play an active role in the business. In these cases, family assemblies are a vital conduit to bringing people together and up to date on the company’s activity and strategy. Family assemblies aim to bridge the divide between family members on the front […]
Inditex, Mango and H&M join forces for the circular economy
Spain’s fashion heavyweights have joined forces to promote the circular economy. Inditex, Decathlon, H&M, Ikea, Kiabi, Mango and Tendam recently created a new association to manage textile and footwear waste generated in the Spanish market. The initiative offers a good exmple of family businesses coming together for the common good. Alianza entre Inditex, Mango y […]
Leschaco, bridging borders since 1879
Constantin Conrad (MBA-18) and Charlotte Conrad Palermo (PMD-23) share their experiences as third-generation leaders of the Leschaco Group, a global logistics service provider with operations in 24 countries and €1.2 billion in annual revenues. The origins of our family business date back to the late 1940s, when our grandfather Herbert Conrad joined Lexzau Scharbau as […]
UPCOMING EVENT: IESE-IEF Foro de Reflexión para Empresarios
The Foro de Reflexión is a collaboration between IESE’s Chair of Family-Owned Business and the Instituto de Empresa Familiar designed to foster and support family business initiatives in key areas of development. On Wednesday, February 14, IESE’s Madrid campus will gather experts and entrepreneurs to exchange experiences and expand knowledge on best practices regarding “Alliances […]
The role of an external director
In my last article published in October 2023, I raised the issue of external directors by saying they could either be independent or not. It’s not a question of how much they’re paid, as some people think: it’s far more complex and multidimensional than that. Let’s start by clarifying these two concepts. External versus independent […]
Trust and communication, the keys to higher productivity
Declining productivity is a constant concern for both governments and companies, especially small- and medium-sized ones. And it’s no wonder: private enterprises generate over 80% of jobs in developed countries, and 90% in developing economies. Many employers wonder if hybrid work formats are to blame for this decline, or at least struggle to define effective […]
Gender wage gap: fixing the ladder’s broken rung
Numerous studies blame gender-based job segregation for the stubborn gender wage gap. However, women who do the same work as men in the same company are still not paid the same as their male counterparts. This El País article highlights the findings of my rececent study with Prof. Isabel Villamor on the primary drivers of […]
Cottet Óptica, serving customers since 1902
Javier Cottet is the president of Cottet Óptica, a family-owned Spanish firm that traces its roots to the late 1800s in industrial France. In 2019, the company revitalized its business model with a more brand-centric and innovation-driven approach. I got my official start in the family business as an intern in the early 1990s, and […]
McKinsey: 4+5 equals FOB outperformance
Recent research by McKinsey confirms the adaptability, resilience and impact of family-owned firms, whose structures and best practices leave them uniquely equipped to navigate business challenges in uncertain times. According to the authors, family firms that combine four critical mindsets with five strategic actions have the capacity to quadruple their business value in the next […]
