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Family Dynamics

How relationship topics such as unresolved conflict, addiction and gender biases affect the family and business systems.

We hope you’ve been enjoying the month-long FFI Practitioner series dedicated to the theme of “Reflections,” which concludes this week with a piece by Paul Chung and Chin Chin Koh. In this article, the contributors reflect on the ancient Chinese Mid-Autumn Festival and explore its parallels to family enterprise.

The month-long FFI Practitioner series of pieces relating to the theme of “Reflections” continues this week with an article by the co-chair of FFI Practitioner editorial committee, Jamie Weiner. In this article, Jamie reflects on his own experience growing up with a father who was a “giant” in his community and explores the importance of creating rites of passage for next gen family business members to create their own identity and find their voice when succeeding a parent who is a “giant.”

The decision-making process within a family business can be one of the most complex issues confronting consultants when working with a client. This week, we’re fortunate to share an article from Luis Medina, where he examines these complex processes within the context of Latin American family businesses.

How can advisers utilize the creative process and even mask-making to help family businesses address and resolve conflict? For this week’s edition, we are thrilled to share an interview between Russ Haworth, host of the Family Business Podcast, and Charlotte Dillon and Oliver Hallam about their presentation at the upcoming FFI Global Conference. Their presentation is titled “Unmasking Imagination and Creativity” and will be a mask-making workshop to explore how creativity can mediate family business solutions.

Thanks to Marianna Martinez, a member of the FFI IberoAmercian Virtual Study Group, for this article entitled, “Eight Strategies for Conflict Management in Family Meetings.” You have your choice of reading in in English or in Spanish! More articles from this group will be forthcoming. We appreciate their taking the lead in helping us publish in two languages!

Thanks to this week’s contributors, Annie Koh and Esther Kong of Singapore Management University for providing a new perspective on how family business advisers can create trust and forge sustainable partnerships with the next generation. Their suggestion? The adviser should play the role of a Connector, Collaborator, and even a Co-Investor.

For this week’s FFI Practitioner, we are excited to share an interview with Kirsten Taylor-Martin about a major piece of research recently conducted by Grant Thornton. The interview, which includes useful tips and insights for advisers working with next gen family members, was actually conducted by a next gen member of Kirsten’s family - her daughter, Angelina Martin!

Despite the potential for next gen donors to become the most significant philanthropists and drivers of family enterprise to date, still little is actually known about the values and tendencies of this vital demographic.

Parents who are owners of family companies are generally intensely interested in their children’s development both as healthy, aspiring individuals and as future owners.

Points of significant change and transition in the life of a family business lead to predictable psychological reactions.

Conflict is a part of life — and of family enterprises Conflict is a broad and important topic. It’s an unavoidable part of life and of human interaction.

Transformation this article makes the claim that mediation, a private, voluntary and creative process, can be designed to effectively address and resolve conflict among family members engaged in family enterprise(s) and that mediation can be a transformative process.

Thanks to Denise Federer for a new take on Next Gen leadership and how advisors can help adult children of business owners gain the respect and trust of company employees.

Female entrepreneurship and leadership is gaining momentum in Asia. Asian female entrepreneurs create more and more wealth.

Family firms play an integral role in many of Asia’s economies. Unlike their counterparts in the United States and Europe, which have several generations of sustained transitions, the majority of Asian family firms are relatively young.

According to statistics, 75% of current companies listed among America’s Top 500 won’t exist in 2027.

In India, family businesses range from small mom-and-pop stores to large conglomerates with equally varied business interests.

There will be few today who would not agree that family businesses are of chief importance in shaping the future of the MENA. This was not always the case, and only a decade ago perceptions were quite different.

While all families have varied strengths and difficulties, addiction and other chronic behavioral health issues present significant risks to family well-being and wealth preservation.

Myth 1: Avoiding talking about business at home generates healthy family relations. Reality: Lack of fluent communication among family members enhances the conflicts they face.