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November 30, 2021

The nature of the family business human capital is complex. Family and non-family employees have the potential to offer unique and distinct contributions to the firm. Yet some human resources practices might be perceived as a preferential treatment to family employees over non-family ones.

The nature of the family business human capital is complex. Family and non-family employees have the potential to offer unique and distinct contributions to the firm. Yet some human resources practices might be perceived as a preferential treatment to family employees over non-family ones.

This could be detrimental to the reputation of family business, being perceived as socially irresponsible, and potentially limiting their ability to attract qualified nonfamily employees, which could ultimately affect the company’s long-term performance.

November 26, 2021

In 1925, Vincent Massey, the scion of one of the wealthiest families in Canada, did something that Ed Rogers today would find unthinkable. He quit.

In 1925, Vincent Massey, the scion of one of the wealthiest families in Canada, did something that Ed Rogers today would find unthinkable.

He quit.

Massey (pictured below right) was the fourth-generation heir to his family’s Massey-Harris farm equipment company, then already well on its way to becoming Canada’s first truly global firm. Despite this, Massey decided that his future lay not in tractors, but in public service and philanthropy. He later became governor general of Canada.

November 23, 2021

Two-headed leadership can be defined as the capacity or art of leading a joint venture with two leaders who have equal conditions with respect to responsibility and participation in terms of decision-making power.

Two-headed leadership can be defined as the capacity or art of leading a joint venture with two leaders who have equal conditions with respect to responsibility and participation in terms of decision-making power.

Two-headed leadership is often the formula chosen by second and third generations to oversee and run a family company. However, for this type of joint leadership to work effectively, specific attributes are required that tend to be uncommon in family organisations.

November 4, 2021

While many might consider history as just something that happened in the past, it is found in our research to have the potential to create important competitive advantages for family businesses and even new entrepreneurs.

“Spanning almost a hundred years, the story behind this restaurant [is told in] the lives of three generations of remarkable Chinese women. Their extraordinary journey takes us from the brutal poverty of village life in mainland China, to newly prosperous 1930s Hong Kong and finally to the UK. Their lives were as dramatic as the times they lived through.” – Sweet Mandarin.

October 19, 2021

Incorporating the family story and managing the perception of entitlement while handling complex relationships are key skills for rising leaders of family businesses, executive leadership experts say.

Incorporating the family story and managing the perception of entitlement while handling complex relationships are key skills for rising leaders of family businesses, executive leadership experts say.

July 29, 2021

The most basic and perhaps most ultimately effective strategy for leaders dealing with the challenges of family business is to plan, create and maintain effective communication practices.

The most basic and perhaps most ultimately effective strategy for leaders dealing with the challenges of family business is to plan, create and maintain effective communication practices.

As family business member and consultant Vernon Holleman puts it: “Communication is critical. Honest, regular communication about where the business is, how it’s doing, how it’s sort of being run and operated.

March 17, 2021

The altruistic next generation of family business leaders is the driving force behind families increasingly integrating philanthropy into their business practices, but they want to effect positive change now, rather than leave charity to the family legacy.

The altruistic next generation of family business leaders is the driving force behind families increasingly integrating philanthropy into their business practices, but they want to effect positive change now, rather than leave charity to the family legacy.

Technology is democratising giving and enabling family philanthropists to respond and measure in real-time. However, the Covid-19 crisis has not—and will not—change the fundamental patterns of giving, only exacerbate existing issues.

January 26, 2021

Most family fortunes were forged thanks to a founding entrepreneur and their successors who managed to uphold their legacy over the generations. The entrepreneurial tale of the founder is often passed down proudly from generation to generation. However, it is also common to see the successor generations concentrate so much on the core business that they sometimes lose the very entrepreneurial drive that gave rise to their family business in the first place.

Most family fortunes were forged thanks to a founding entrepreneur and their successors who managed to uphold their legacy over the generations. The entrepreneurial tale of the founder is often passed down proudly from generation to generation.

However, it is also common to see the successor generations concentrate so much on the core business that they sometimes lose the very entrepreneurial drive that gave rise to their family business in the first place.

March 23, 2020

The boards of family businesses need to step up their professionalisation to broaden succession planning, introduce the next generation and improve the gender mix, says a leading international family business consultant.

The boards of family businesses need to step up their professionalisation to broaden succession planning, introduce the next generation and improve the gender mix, says a leading international family business consultant.

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