At a time where many enterprises are still debating about making the move into Industry 4.0, local family business Onn Wah Precision Engineering is already powering ahead. Ambitious plans that managing director Lam Keng Yew, a second-generation business owner, has in the works include 3D [...]
Here is a question – especially for self-made businessmen and women. A man spends a decade building a business to a £10million plus turnover and then goes on holiday leaving in charge a management team with an average age less than 21. He is away [...]
Pablo Isla, the CEO of Inditex, has just been nominated as the best boss in the world by the Harvard Business Review. His success looks to be influencing other family businesses in his home country to rely more on outsiders to run their businesses. Isla, [...]
A study by the EDHEC Family Business Centre shows the rate of intra-family business succession in France is below 20%. While the tax environment exerts a significant impact on the low rate of family succession, it represents only the tip of the iceberg. Researchers agree [...]
“What’s wrong — is the company going bankrupt? Are we being sold?” For Charlie, who had joined his family’s bakery business two years after getting his MBA and earning his stripes at another company, this question from the plant manager came out of the blue. [...]
Whether true or not, blue bloods in America and aristocrats in Europe have a reputation of blowing fortunes. When you’ve got everything the material world offers entrepreneurship isn’t a priority and fortunes can disappear fast. But no so for the scion of one of America’s [...]
Mishal Kanoo is tired. Asked if he is having a busy day, the chairman of century-old Gulf conglomerate the Kanoo Group inhales deeply on his cigar and responds: “Twenty four hours in a day is not enough. If you sleep too little, it’s miserable, and [...]
Watching New Economy starlets like Amazon steal all the headlines, it would be easy to assume family empires are a dying breed, rapidly being replaced by corporations where meritocracy rules, capital runs free, ownership is traded swiftly and the financials are posted for all to [...]
The role of the family business leader depends on the background of the family, its structure and the conditions under which he assumes that role. Someone who becomes the leader during times when the family and its business is struggling may face very different kinds [...]
The concept of family togetherness has changed considerably in the Indian context in the past few decades. India was a largely holistic society in which people lived in large joint families. They shared their roof, wealth, occupation and emotions with all other members of the [...]
Statistics show that family businesses employ about 80% of the labor market. Although it may be difficult to distinguish family from nonfamily businesses, in Asia (as in the rest of the world) businesses are predominantly family-owned. The character of a business changes when professionals come [...]
In study done by the Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business, significant trends in transition in family businesses were noticed. Leadership in family business seems to be undergoing a phenomenal change. While earlier it was autocratic, now it is [...]
Singularity, the private investment office of the Nigerian-based Dawlish family, is one of a handful of family offices based in Africa that’s investing directly in the continent’s vibrant startups. Since it was set up three years ago, Singularity has made more than 14 direct investments, [...]
It is very difficult to generalise and say that dynastic succession is bad for family firms. In the end, firms that are well-governed and professionally managed, irrespective of being family-managed or not, are the ones that are sustainable. It is easier for the incumbent family [...]
It's our belief that a significant percentage of family business failures are a byproduct of families and their advisers having given comparatively much less attention to the antecedent imperative to succession planning- employment planning. Without thoughtful employment planning, families increase the risk of succession planning [...]
PwC conducted in-depth conversations with 35 next gens from 21 countries and polled more than 100 additional next gens for its new report, Same passion, different paths: How the next generation of family business leaders are making their mark. The results showed an incoming [...]
Indian family businesses flourished and contributed significantly to the growth of the economy in the post liberalisation era A study conducted by the Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business (ISB) reveals that liberalisation led to the rise of [...]
In 2008, after 27 years of working for his sixth-generation family business that founded the C&A clothing retail chain, family entrepreneur Stephen Brenninkmeijer, created Willows Investments. He discusses funding and supporting promising ventures with a social mission. What is the mission of your family? To [...]
The legacy of Stanfield's: Like most great entrepreneurs, Charles Stanfield was part inventor, part marketer and part gambler. When he started his textile business in 1856, the Maritimes were fertile ground for success — a fresh start from his native England. Four years ago Jon [...]
This article was first published in www.news18.com on August 21, 2017; Authors- Nupur Pavan Bang and Kavil Ramachandran Founder shareholders have the right to question the CEO if the performance is not up to the mark. But they must realize their special status as the [...]
Last month, luxury lifestyle magazine August Man featured fathers and sons in midsize Singapore family businesses: Anthony Lim and sons Raymond and Jeremy of Cortina Watch, Alan Tan and son Alvan of Alan Photo, Tan Soo Pong and son Lawrence of Dragon Brand Bird’s Nest. [...]
Dilhan Fernando is a man of faith on many levels. The youngest son of the founder of Dilmah Tea has faith in the quality of the genuine Ceylon tea they produce, faith in the philanthropic Christian tenets his father raised in him and he instils [...]
The founder of every thriving family business faces an inevitable question: How should our ways of working evolve to meet the challenges of managing a growing company? Experts typically tell founders that the answer is to professionalize, meaning that they should emulate the structures, governance, [...]
Bill Ford, executive chairman of Ford Motor and great-grandson of founder Henry Ford, feels he didn’t get buy-in for his ideas and has installed a new CEO who he hopes will carry out his vision. The Nordstrom family is exploring taking Nordstrom Inc. private as [...]
Lucas' Papaw, Bundaberg Brewed Drinks, Blackmores. If not household items, these brands are certainly easy to find in pharmacies and supermarkets across Australia. All three businesses are still family owned. Their number of employees range from 30 to more than 1000, but John McLean, chief [...]
Family businesses face major challenges in working through ownership and management succession and family business leaders acknowledge the problem. However, few know where and how to develop a governance and succession plan. Visionaries need not go through the same periods of adversity. To preserve their [...]
Sri Lanka’s family business continuity will depend on their ability to have a clear vision and retaining family unity, business leader Shiromal Cooray said. “The failure to articulate the vision of the business in writing can be especially problematic as a company transitions from the [...]
Given the uproar over Ivanka Trump’s sitting in for her father at the “adult’s table” at the G-20 summit in Hamburg, Germany, earlier this summer, why it is that we seem so eager to cry “nepotism” where family enterprise is concerned. What is it, exactly, [...]
The odds of successfully transitioning a business from one generation to the next are extremely low. In fact, as each new generation ages to the point of needing a successor, it is even less likely that a transition to the next generation can be successfully [...]
Like most family-run enterprises across the globe, only 13 percent of those in Singapore survive till the third generation, according to a March 2017 survey of 100 firms done by KPMG and CPA Australia. Though statistics vary, the fraction of such Filipino family businesses is [...]
Innovation needs to be more pervasive amongst all levels of staff in family businesses, according to professional services firm KPMG Singapore. Recent research by the firm shows that innovation is currently mostly limited to founders and senior people in a family business when it is [...]
Companies in which founders and their families hold controlling stakes have the rare ability to maintain a long-term view. That can be a huge advantage, particularly when it comes to capital allocation. Should you be investing alongside them? According to data compiled by the Boston [...]
Reputation matters to all employers, but particularly to a family business that traces its ownership back to the Napoleonic Wars, and has its own money and name on the line with every deal. Signing on with NM Rothschild & Sons has the rider that being [...]
Family-owned businesses reaching a milestone of more than 100 years are indeed extraordinary, and Royal Selangor, a Malaysian company of Chinese descent that started in the 1880s, has proven that with a well-crafted Family Charter (constitution) and a timely succession process, the family business can [...]
There is no standard legal structure for family offices. The types and number of legal entities used in a family office differs depending on each family’s vision and goals, the family’s investment strategy, and the scope of services to be provided by the family office. [...]
The T. & A. Bata Shoe Company was founded in the late 1800s in the Czech Republic by Tomas Bata, his brother Antonin and his sister Anna. They came from a long generation of cobblers. The family-owned international business saw its tentacles spread in the [...]
It is difficult to overstate how important family businesses are. Some two-thirds of UK businesses are family-owned – 4.7 million in total. They employ more than 12 million people, approaching half of all people employed in the private sector. They generate more than a quarter [...]
With assets still predominately held by the first and second generations, the heads of most wealthy Asian families remain as key decision makers and they are often keen to stay actively involved in managing their own assets. This is despite the fact that many of [...]
Teddy Fong runs Million Dollar Baby, a $70 million children's furniture wholesaler his parents, Daniel and Maryann Fong, started in 1990. Almost three decades ago, Daniel Fong was a venture capitalist with an urge to start a company. He did some research and bought and [...]
The investment push into private companies is one of the big investment themes of the post-financial crisis, and its just getting going. This view was reinforced by what Robert Soros, the son of one of the great investment gurus of the last 50 years, George [...]
In an insightful research material by Schwartz and Bergfeld, the authors pointed to one country that seemed to challenge the third generation curse much better than others. Japan has seven out of the 10 oldest companies on the planet and also has the highest concentration [...]
It has been said that the first generation accumulates, the second preserves and the third squanders. And experienced bankers have seen their fair share of corporate family-based customers, so promising in earlier generations, lose direction or even implode when the grandchildren take over. Recognising the [...]
Joe Bauernfreund , who runs the £993 million British Empire Investment Trust, has revealed how he is investing in family holding companies to generate returns. The British Empire Investment Trust has increased its dividend for each of the past thirty years. The trust tends to [...]
Ve Interactive is the latest high profile name that serves as a reminder that many tech scale-ups have failed. There are many causes, but it shows that the short term goal of making the participators wealthy does not always pay off. A scale-up can engage [...]
There are many reasons why building a family business, is appealing. You might want build something with your children, work with family members you know and respect, as well as creating a foundation for generational wealth. There are processes you need to structure to give [...]
A family business can range from a small mom and pop business to large multi-million dollar publicly traded companies. Family businesses and their leaders often experience many of the common problems of a regular business, but also have an added layer of problems and dilemmas [...]
As much as 98 per cent of the world’s economic activity is accounted for by family businesses but for many companies, making that transition from entrepreneurship to a smoothly-run family business is difficult, says Allan Cohen, a professor in global leadership at Babson College, a [...]
Business people often have a tendency to concentrate so much on their day-to-day business that they end up losing sight of some pretty important basic matters, like their values. Values form the unconscious base of everything we do, and they impact so many of our [...]
Family office principals interviewed by Campden Wealth researchers for the new Private Equity and Co-Investing for Family Offices report, out today, said restricted access to high quality deals, limited team resources, and knowledge gaps were obstacles on direct investments. However, higher expected returns, absence of [...]
LEE Kum Kee International is a Hong Kong-based food company that manufactures oyster flavored sauce and a wide range of Chinese and Asian sauces. The brand was founded in 1888 by Lee Kum Sheung, a chef working in a small eatery that sold cooked oysters. [...]