Business Family Enterprise Report - Moving From Success to Significance

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.

Whether your family business’s culture is traditional or modern, you can honor the past and still prepare for the future.

Even in countries where men dominate, women proved to be innovators in times of crisis, a Honduras study showed.

Companies must view change as a strategic opportunity -- and set aside enough resources to seize those opportunities quickly.

While there are many routes to success, research shows that entrepreneurial business families should consider the possible impact of where they live on how they grow.

Researchers explored how the Cadbury family’s Quaker values, which prioritized honesty and fairness, have endured even after the confectioner was sold to Kraft.

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.

social spending effect on entrepreneurship

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

men are still preferred in family business succession

Families are often reluctant to anticipate and plan for the day when an unexpected transition might upend their business. The costs of inaction are high.

Family firms, unlike non-family firms, value a learning-based path to entrepreneurship, which plays to women’s strengths.

Research showed that women directors valued relationships with all stakeholders and had a long-term view that prioritized workforce security.

Good things happen when employees identify with the firm, participate in decision-making and feel loyalty -- and certain combinations of the three are most effective.

Families that focus on renewing their non-financial values in future generations are more likely to have a formal program.

We're all only human -- but preventing outbursts in front of customers and other non-family members preserves your reputation and relationships with stakeholders.

The first rule of authenticity is that you never talk about authenticity; let enthusiastic third parties do the talking for you.

A Chilean study found that the reasons go beyond protecting the family’s assets and economic interests.

While divorce can build the resilience that entrepreneurs need, it had the worst lingering effect on children from well-educated families.

The capital structure of a firm determines its financial viability and creditworthiness. Families should understand how ownership influences this structure.

Business continuity has become critical as Baby Boomer owners retire. Our research showed that if you don’t have an exit strategy, you don’t have a strategy.

The successor's readiness for the top role, and the firm's age and experience with previous successions, are main factors to consider.

Business families have many ways to combine financial returns with philanthropy. The choice depends on their values, long-term goals and other factors.

Next-gen leaders often have a clearer view of how the family business must change. The challenge is to preserve the culture and values while making change happen.

Family firms face higher borrowing costs than non-family firms if they disclose strategic information, but having women on their boards helps them narrow the gap.