Far more than an abstract ideal, happiness a fundamental condition for both individual and collective success. Martin Seligman, a global authority in positive psychology, offers the PERMA model as the foundation of well-being, built upon five core components: positive emotions, engagement, relationships, meaning and accomplishment. As a professor specialized in human behavior within organizations, I’ve…

Conflict is an inherent part of human interaction, arising whenever there is a divergence of opinion or interest on a concrete issue. In the context of family businesses, the most successful organizations anticipate and manage conflict before it arises. These companies recognize conflict as a natural occurrence: if it hasn’t cropped up yet, it’s only…

The convergence of personal relationships and business objectives in family firms often gives rise to unique challenges and added complexities in their management and sustainability. In this context, solid corporate governance systems are critical to ensuring their long-term success. On November 7, IESE’s Madrid campus brought together renowned experts to analyze corporate governance as a…

As family businesses transition across generations, a distinct type of shareholder emerges: one who only own shares while playing no role on its executive board or leadership team. The concept of responsible and committed ownership has increasingly gained traction in recent years, guided by the principle of stewardship. This vision underscores the critical need for…

Women are increasingly stepping into senior-level roles in family-owned firms, bringing a distinct leadership style that blends strategic acumen with an ability to balance both family and business dynamics. This article explores the growing influence of women in family-owned firms, the challenges they face and new opportunities on the horizon. Female leadership in family business…

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…

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…

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…

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…

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…

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…

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…

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…

* 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…

The Family Business Reflection Forum co-organized by IESE's Chair of Family-Owned Business and the Instituto de Empresa Familiar continues to give us plenty to talk about. In the first of this three-part series, Prof. Marta Elvira highlighted the core benefits of strategic alliances as engines for growth, which Prof. África Ariño brought to life in…

Judith Viader is the general manager of Frit Ravich, a second-generation company specialized in the manufacture of chips, snacks and nuts, and snack-food distributor with over 1,000 employees, exports to 27 countries and €302 million in net sales in 2023. Frit Ravich is a family business founded in 1963 by my father, Josep Maria Viader,…

Truth be told, implementing and managing a board of directors in a family firm isn’t an easy task for a variety of reasons, including the unique nature of each family and company and its specific context and growth stage. Through my years of experience working with family firms, I have gathered several practical insights to…

Guest contributor: África Ariño Professor of Strategic Management · Holder of the Joaquim Molins Figueras Chair of Strategic Alliances · IESE As explored in the first article in this series on the conclusions drawn at the Family Business Reflection Forum, strategic alliances enable two or more companies to share resources and capabilities to either undertake…

Family businesses are economic motors and drivers of social cohesion around the world, which is why it’s important to better understand their impact on diverse stakeholder groups. To learn more, I encourage you to read the new white paper “Vínculos profundos: un análisis riguroso sobre las relaciones entre las empresas familiares y sus stakeholders” (Deep…

In today’s fast-paced global environment, growth isn’t an option for family businesses: it’s an imperative to ensure their long-term success and continuity. This reflection and the role of strategic alliances were in the spotlight at the first Family Business Forum for Reflection, organized recently by IESE and the Instituto de Empresa Familiar. This article, written…