Hire professional managers to grow family business

By | January 5, 2018|Family Business|

Family businesses are a vital part of the Kenyan economy, and their continuity and success often depend on the transition from one generation to the next. In the Kenyan economy, it has been found that less than one-third of family businesses survive the transition from the first to the second generation, and half of these [...]

How to keep a family business running after 200 years

By | December 29, 2017|Family Business|

The rumours that swirled around the American east coast city of Baltimore in 1895 were grossly inaccurate. The word on the street was that the Loane family business had shut. So Javez Loane, who at the time ran the business that made sails, window awnings, tents, flags and wagon covers, distributed a flyer to set [...]

How the Generation Gap Affects Chinese Business Succession

By | December 29, 2017|Family Business|

A 2011 report estimated that around 80 percent of China’s private companies were family-run. If we define family enterprises as any enterprise where the founder or their family holds more than 50 percent of the shares, then they probably number in the millions. In the early days of the reform and opening-up era, a shortage [...]

Corporate Governance in the context of family controlled businesses

By | December 22, 2017|Family Business|

The 120 years old Godrej Group has emerged as an icon among family businesses in India, not only for its economic achievements but also for its relentless focus on achieving excellence in corporate governance. In an interview with Sougata Ray, Professor of Strategy, Indian Institute of Management Calcutta, and Visiting Scholar, Thomas Schmidheiny Centre for [...]

Like Father, Like Son—Ziad Salloum on Succession in the United Arab Emirates

By | December 22, 2017|Family Business|

Ziad Salloum and his father Samir are both lawyers with expertise ranging from “day to day stuff” as Salloum Jr puts it (acquisitions, contracts, sales), to managing a business handover from one generation to next—a process arguably more about personalities than professionalism. Established in 1980 by Samir, Salloum & Partners LLC (formerly the Law Offices [...]

Culture and Professionalisation at Hilti

By | December 18, 2017|Family Business|

Hilti Corporation is a global company that has been consistently rated as one of the best for people practices, by Fortune and the Sunday Times. Professor Kavil Ramachandran, Executive Director of the Thomas Schmidheiny Centre for Family Enterprise, Indian School of Business, in a freewheeling discussion with Prof Dr Pius Baschera of the Hilti Corporation [...]

How to advise a family business

By | December 8, 2017|Family Business|

Providing financial advice to a family running a business is complex, according to a Europe-wide study that highlighted challenges around growing a business and managing its wealth across generations. This important advisory market segment is increasingly being impacted by a ‘war for talent’, according to the European Family Businesses (EFB) and KPMG Enterprise European Family [...]

Sharing Wisdom: Lessons from successful family dynasties

By | December 8, 2017|Family Business|

A significant minority of highly successful business-owning families excel and thrive through several generations: Miele, Follett, Takanashi, Henkel, and many more. These families have much to teach us: not only on governance, strategy and business management, but also social and environmental responsibility and economic development. So what are the features of family firms with sustained [...]

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