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October 25, 2020 - Issue #15

Research Reveals How Business Families Have Coped With COVID-19 Research Reveals How Business Families Have Coped With COVID-19 Researchers surveyed more than 1,000 family businesses around the world to see how they're handling the pandemic. Here is what they learned.
Whitney Peake

Editor's Pick

Whitney Peake

Staying Strong During a Crisis

In this podcast, Jonathan Flack, CPA, the U.S. family business services leader at PwC, talks about how family businesses are weathering the pandemic's economic crisis, and the unique strengths that are helping them survive. He also shares advice for family business leaders about communicating with staff and stakeholders. https://www.journalofaccountancy.com/podcast/how-family-businesses-can-stay-resilient-during-coronavirus.html

Journal of Accountancy, April 30, 2020

Women: Regain Your Professional Footing Women: Regain Your Professional Footing Covid-19 has upended the traditional balance of work and family, which was never easy to begin with. In this article, Elizabeth Bagnall and Susan Laverick of Beaufort Group Consulting show how to reclaim personal boundaries and move forward.
Family Members Can be Valuable Mentors Family Members Can be Valuable Mentors Entrepreneur, philanthropist and author Simran Mohinani has great role models among her family members. She talks about balancing the family and mentor relationships and offers advice for future family business leaders and women.
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A Crisis Playbook for Family Businesses A Crisis Playbook for Family Businesses

As the numbers of coronavirus cases rise in many places, this HBR article from late April is as important now as it was back then.

The Resilient Family Enterprise The Resilient Family Enterprise

This first article in a new series by Deloitte looks at how COVID-19 brings new focus to family business issues like succession planning and values.

Podcast Focuses on Crisis Management Podcast Focuses on Crisis Management

Check out my discussion with Professor Torsten Pieper of the University of North Carolina at Charlotte about his research into how family businesses are responding to the Covid-19 pandemic.

The Hero Myth in Family Businesses The Hero Myth in Family Businesses

This fascinating article in Tharawat magazine explores the role of storytelling, especially about family business founders and their resilience in the face of adversity.

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Your Investment Strategy Should Reflect Your Family Values and Goals
by Claudia Binz Astrachan, Anneleen Michiels, Massimo Baù, and Chris Graves / Practice Insight

A family investment policy defines how a family manages its collective financial assets in alignment with its shared values, goals, and risk preferences. Read more...

Families Can Overcome Generational Conflicts Over Technology
by Maria Annosi, Mat Hughes, Davide de Gennaro, Roberta Oppedisano, and Filomena Buonocore / Research Insight

A study of Italian firms shows how differences can be resolved, so the company can honor tradition and still make progress. Read more...

Ready to Lead: Building Confidence Across Generations
by Paul Edelman / Applied and Practice

When families treat readiness as something they cultivate together, the handoff feels less like a loss and more like a natural next step. Read more...

Define Your Legacy, and Strengthen Your Business and Your Impact
by Matthew Fox, Kimberly Wade-Benzoni, and Jeffrey Covin / Research Insight

Unless you clearly define what you want your legacy to be, your successors will interpret it in their own way -- and it might not be what you intended.  Read more...

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Things to Consider When Transferring Family Business Ownership
by Susan Lanz, Gary Burke, Kajsa Haag, and Omid Omidvar
Editorial offices located at St Thomas University

Editorial offices located at St Thomas University

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Consumers Love Local Brands. That's Good News For Family Businesses
by Philipp Jaufenthaler, Andreas Kallmuenzer, Sascha Kraus, and Alfredo De Massis
Supported by the Richard M Schulze Family Foundation

Supported by the Richard M Schulze Family Foundation