Our Best Advice for the Year Ahead

December 18, 2023 - Issue #104

An Innovation Challenge Can Help Employees Feel More Connected An Innovation Challenge Can Help Employees Feel More Connected A Minneapolis-based firm challenged employee teams to design and build something that would help people in their local community.
Everyday Gratitude in Times of Uncertainty Everyday Gratitude in Times of Uncertainty Gratitude leads to better relationships and encourages loyalty among our colleagues. This popular 2020 article has been updated for today's challenges.
Master Three Perilous Stages of Family Business Transition Master Three Perilous Stages of Family Business Transition Avoiding these minefields before, during, and after succession will help both your business and your relationships. Leave your own thoughts here!  
Keep the Founder's Entrepreneurial Spirit Alive in Future Generations Keep the Founder's Entrepreneurial Spirit Alive in Future Generations While entrepreneurship often creates the family's wealth, making it part of the family culture and legacy is another matter entirely. Here's how.
Generative AI Can Help Family Businesses Innovate and Grow Generative AI Can Help Family Businesses Innovate and Grow Technology can now take care of mundane tasks, and give people more time for satisfying, impactful work that requires creativity, emotional intelligence and empathy.
Why Don't You Educate Your Owners? Why Don't You Educate Your Owners? Everyone agrees that families should train members to become competent owners and stewards of the family business – but few of them actually walk the talk.
Diverse Boards Help Family Businesses Expand Internationally Diverse Boards Help Family Businesses Expand Internationally Pushing into new markets across geographic borders requires a family business to be more focused on possibilities…and this is where boards can make the difference.
How to Avoid Family Business Disasters
How Family Businesses Survive Unexpected ‘Wild Cards’ How Family Businesses Survive Unexpected ‘Wild Cards’ From government upheaval to COVID, Poland has dealt with many devastating events over the past 30 years. Fifteen family firms told us how they survived it all.
Seven Things to Consider Before Selling the Family Firm Seven Things to Consider Before Selling the Family Firm Former family business owners shared their experiences in this panel discussion hosted by the University of St. Thomas's Family Business Center.
Will Your In-Laws Help or Hurt Your Family Business? Will Your In-Laws Help or Hurt Your Family Business? As the Gucci and royal families show, in-laws can complicate things. Here's how family businesses can benefit from their perspectives and minimize conflict.
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Helping Next-Gens Envision Their Family Firm’s Future Success
by Nadine Kammerlander and Friedrich Kammerlander / Education and Teaching

This classroom exercise seeks to motivate future family firm leaders to think ahead and design a holistic vision of their family firm in 10-15 years, covering many different (and potentially conflicting) aspects of it. Read more...

Better Let Your Brother Do It: Men Are Still Preferred in CEO Successions
by Jan-Philipp Ahrens, Melania Riefolo, Annegret Hauer, and Katharina Siegert / Research Insight

At 800 German firms, 81% chose sons over daughters in succession decisions -- and the presence of first-born sons also made them exclude outside candidates. Read more...

Unforeseen Crisis Made These Family Businesses Stronger
by Rebecca Alguera Kleine, Bingbing Ge, and Alfredo De Massis / Research Insight

The COVID-19 pandemic forced six German family firms to reckon with their identities, positioning and strategies -- and transform themselves for the better. Read more...

Perceptions of Family Firms Vary by Country: Why This Matters
by Philipp Jaufenthaler, Oliver Koll, Reinhard Prügl, and Maximilian Lude / Research Insight

Firms that signal they are family-run are usually seen as better quality and enjoy higher levels of trust, except in places like India where they're everywhere. Read more...

Trending
Developing responsible owners in family business
by Torsten Pieper and Joseph Astrachan
Editorial offices located at St Thomas University

Editorial offices located at St Thomas University

Popular
When the Family Leaves the Business, Can Their Values Remain?
by Roy Suddaby, Wilson Ng, Natalia Vershinina, Gideon Markman, and Matthew Cadbury
Punishment, Reward, Control: How Money Shows Up in the Business Family
by Claudia Binz Astrachan and Anneleen Michiels
Do You Treat In-Laws Like the Family Business Outlaws ?
by Claudia Binz Astrachan, Joseph Astrachan, and Torsten Pieper
Supported by the Richard M Schulze Family Foundation

Supported by the Richard M Schulze Family Foundation