“Good governance is key to long-term success, especially in family-owned business, where stakeholder relationships are often complex,” says Sonny Iqbal, co-leader of Egon Zehnder’s Global Family Business Advisory.
In Emerging Markets Business, Egon Zehnder’s Sonny Iqbal and Richard Stark offered their perspective on one family business, Paraíso Verde, which was founded in Chile in 1911 and later fell into crisis following the loss of the founders.
Managing family relationships at work is one of the thorniest issues in family-owned businesses, particularly when relationships cross generations, such as parent-child or uncle/aunt-nephew/niece. Many family members are committed to professionalism and strive to separate “work” and “family” in their dealings with each other.
The ability to give and receive feedback is a fundamental leadership skill. Feedback improves outcomes and results, motivates performance, brings groups together, clarifies goals and objectives, clears outstanding issues and inspires development.
In a recent study, Egon Zehnder and Family Business Network International interviewed executives at 50 of the world’s top family firms - mostly in the third or fourth generation - to discover how they unlock great leadership.
What sets family businesses apart - by Prof. Dr. Sabine B. Klein and Prof. John L. Ward, Ph.D.
What sets family businesses apart - by Prof. Dr. Sabine B. Klein and Prof. John L. Ward, Ph.D.
As family businesses evolve from small enterprises to large, complex operations, many of them intuitively understand that they must add non-family members to the management team along the way.
Perpetuity is a central objective of every family business. In today’s ever-changing world, it is critical for owner families to proactively mitigate risks to achieve that longevity.
随着中国“创一代”们逐渐老去,越来越多家族企业开始面临接班问题。
Whenever a family business looks to its next generation on matters of succession, it can encounter four types of responses. The next generation family member could be eager and ready.
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