Sustaining the Family Business with Minimal Financial Rewards: How do family farms continue?
Despite tending to generate less than average returns on investment, almost a third of family farm businesses in the UK have operated in the same area for more than 100 years.
Family Social Capital, Trust within the TMT, and the Establishment of Corporate Goals Related to Nonfamily Stakeholders
The authors conducted a study to analyze how structural and cognitive family social capital influences the establishment of corporate goals related to nonfamily stakeholders (EGNFS) in family firms.
Implications of Family Business Employment for Employees’ Innovative Work Involvement
In this paper, the authors shed light on the likelihood that being employed in a family business is conducive to employees’ innovative work involvement.
The Effect of Organizational Characteristics on the Appointment of Non-Family Managers in Private Family Firms: The moderating role of socioemotional wealth
Research Applied précis prepared by John L. Ward, Kellogg School of Management, Northwestern University When and why do family firms hire, or not hire, non-family executives?
Key Diagnostic Parameters for Family Enterprise Functionality
Another contribution from the FFI Fellows, this article by Andrew Hier identifies concrete variables that most impact the functionality of a family enterprise or any sub-part to a family enterprise.
The Role of the Attorney Comes Full Circle
There was a time when a lawyer was considered the “consigliere” to the family and its business.
Tout the Family Ties as Part of the Brand
Myth: Family businesses are small businesses run by the seat of their pants. As such, they should do their best to keep that fact hidden, not promote it, and certainly not incorporate it into their brand.
Riding the Shirtsleeves: Deconstructing a foundational family business myth
As I prepared a presentation, the chair of the financial services firm cautioned me, “Please, don’t start with the shirtsleeves to shirtsleeves story; we’re sick of it”.
Why Clients Really Call
Family business stakeholders are smart. They know their business and their family better than any consultant ever will. They may have read many of the foundational books and articles on best practices for family business.
Estate and Wealth Planning for Family Enterprises: Reality — not myth — as the proper starting point
The 2015 FFI Global Conference theme of “myths and realities” provides an excellent opportunity to focus attention on how best to advise family enterprises for the long-term success of the family and the enterprise.
Will the Real ‘Wealth’ Please Stand Up!
Wealth. It’s a cornerstone word in the family business vocabulary. But is its use on point?
Should There Be Such a Thing as a High Growth Family Firm?
Growth vs. Profitability High growth strategies are a myth and a recipe for reduced profitability.
Lego: From bankruptcy to “everything is awesome”
“Everything is awesome Everything is cool when you're part of a team Everything is awesome when we're living our dream” A colorful crowd, wearing different superhero masks, was joyfully singing the Lego movie main theme.
The Myths and Realities of Defining Family Wealth: Whose definition is it anyway?
Wealth is the abundance of valuable resources or valuable material possessions. This includes the core meaning as held in the originating old English word weal.
Realities and Myths of Entitlement in Business Families
Entitlement in family business is not always about the next generation, at times it also includes the founder generation’s beliefs, patterns and ways of being.
Family Firms and Entrepreneurship: A different point of view
Continuing our series on Myths and Realities, HEC Montréal professor Danny Miller weighs in on “Family Firms and Entrepreneurship: A different point of view”.
Myths and Realities: Polar opposites?
The Brain: Conventional wisdom — especially from parents of teenagers — suggests that the teenage brain and the adult brain may be polar opposites.
Addiction and Family Business
Addiction contributes to poor communication, lack of trust, and even dysfunction in family enterprises.
Developing Positivity in Family Business Leaders
Working with the cooperation of the Family Business Australia FORUM, the authors studied a leadership intervention in a group context (a.k.a. peer advisory groups) over a five-year period.
Research Applied: FBR Summaries for the Practitioner
The first in the quarterly series of practice-oriented précis of articles from the Family Business Review.