Includes discussions of 1st generation entreprenurial behaviors as well as discussion on creating entrepenurial companies and entrepreneurs across generations.
Panta rhei. Everything flows and evolves. And family businesses are no exception. From the first-generation founder firm to a real family firm in later generations, and from a single business firm to a complex portfolio business. In some instances, that transition in the family firm – from one to many businesses – happens rather suddenly, in a revolutionary way. Such transformations usually require a few key elements: a natural entrepreneur in the later generations of the family and… a major liquidity event that financially enables the transformation. Marta Widz and
What can family enterprises learn from a book titled, Who Moved My Cheese? Thanks to this week’s contributor, Ashvini Chopra, for sharing a case study that applies the book’s lessons about change and adaptability to a recent scenario Ashvini encountered with one of his family business clients.
In a rapidly evolving and increasingly competitive environment, is the need for an Entrepreneurial Orientation critical to ensuring the long-term survival of family firms? In this week’s edition, which is a précis of “Entrepreneurial Orientation and the Family Firm: Mapping the Field and Tracing a Path for Future Research,” an article appearing in the September issue of FBR, Maya Prabhu explores this question and the important implications of this research on the field.
This week’s FFI Practitioner continues the month-long series of editions relating to the theme of “Reflections.” Thank you to Ken Moores for this reflective précis, where he examines the research conducted about developing a legacy of an entrepreneurial mindset in “The Development of an Entrepreneurial Legacy: Exploring the Role of Anticipated Futures in Transgenerational Entrepreneurship,” an article that appears in the September 2018 issue of FBR.
Family firms, like all modern businesses, must depend on growing levels of innovation in order to survive in an increasingly competitive global marketplace. This week, Diogo Cotta and Niklas Rossbach from Maastricht University discuss some alarming trends concerning innovation in family businesses and introduce a research project they’re conducting to learn more about how family businesses approach innovation opportunities.
Usually the most prized thing that we as established practitioners lose is our creativity. Once a niche is carved and sustained over decades of hard work, inevitably, at some point in time, complacency sets in.
Thanks to Sally Derstine, senior family business advisor with the Delaware Valley Family Business Center, for the following blog on “Transforming to a Family of Adults: A foundation for healthy generational transitions”.
When Allan R. Cohen and David L. Bradford first published Influence without Authority in 1990, most companies were hierarchical and running on principles derived from the military or early bureaucracies.
Research Applied précis prepared by Kim Schneider Malek, Family Enterprise Alliance, LLC Innovation is more than just a hot topic for start-up companies.
Family firms are usually considered more conservative, averse to taking risks and hardly innovative, as compared to non-family firms.
Growth vs. Profitability High growth strategies are a myth and a recipe for reduced profitability.
Continuing our series on Myths and Realities, HEC Montréal professor Danny Miller weighs in on “Family Firms and Entrepreneurship: A different point of view”.