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Ownership and Management

April 1, 2002

Many multi-generational family firms make up the French economy. They demonstrate resilience and renewal in hardship, good family organisation and, for some, acceptance of in-laws in top roles

Many multi-generational family firms make up the French economy. They demonstrate resilience and renewal in hardship, good family organisation and, for some, acceptance of in-laws in top roles

April 1, 2002

In this issue’s guest editorial, Carol S Pearson discusses the role archetypal branding can play in the success of a company and how family businesses are particulary suited to it

In this issue's guest editorial, Carol S Pearson discusses the role archetypal branding can play in the success of a company and how family businesses are particulary suited to it

April 1, 2002

In the last issue, Kelin Gersick described the differences between the ‘pyramid’ view, emphasising the generational expansion of one family, and the ‘network’ view, focusing on the complex relationships among the multiple units of an extended family. Part II of this article explores the implications of that developmental model for the critical tasks of governance and continuity

In the last issue, Kelin Gersick described the differences between the 'pyramid' view, emphasising the generational expansion of one family, and the 'network' view, focusing on the complex relationships among the multiple units of an extended family. Part II of this article explores the implications of that developmental model for the critical tasks of governance and continuity

April 1, 2002

I was talking recentlyto the Chairman of a financial services organisation, telling him about my interest in family business and my desire to establish a new international centre for the study of leadership in family firms at London Business School.

I was talking recentlyto the Chairman of a financial services organisation, telling him about my interest in family business and my desire to establish a new international centre for the study of leadership in family firms at London Business School. The Chairman was interested, but after a while asked "Aren't they a thing of the past in the UK?"This is not the first time I have heard this belief expressed, and by people who you might think would know better. Around three years ago it was estimated that 75% of all British businesses were family-owned and -managed.

April 1, 2002

Family businesses have special traits that allow them to follow different, unconventional business strategies to those pursued by non-family firms – the advantages of trust within the business, ownership commitment and a longer term view all contribute to their strategic success

Family businesses have special traits that allow them to follow different, unconventional business strategies to those pursued by non-family firms – the advantages of trust within the business, ownership commitment and a longer term view all contribute to their strategic success

February 1, 2002

Senior level recruitment from ‘outside’ the family enterprise can be one the most risky yet important decisions a business has to make. Here, we discuss the issues, illustrated by some experiences from candidates, employers and a specialist recruitment agency

Family enterprises facetheir greatest challenge when it comes to recruiting external employees at senior management level, yet there seems little that any business can do to guarantee success.

There are many tales of family business founders who want to step down or retire but who face the problem of no obvious successor within the business, or within the family.

February 1, 2002

In the first of a two part series, Kelin Gersick explores the implications of family development in the context of family business growth, development and success. Part two will explore specific applications of the model in governance design

The main challenge facing business families as they move to the second, third and later generations is maintaining a sense of connection across an increasingly disparate group of relatives. Can 50 (or 200) cousins spread across many countries and around the world retain an identity as a family? So far, most of the literature on family firms focuses on the first-generation nuclear family – one pair of parents and their children moving through their life cycle. In fact, the most difficult dilemmas for business families arise as they become more complex.

February 1, 2002

Despite changing realities of the new economy, a group of companies – ‘hidden champions’ – has stayed true to its core principles, with business characteristics similar to those of family-run businesses

The media hype associated with the trends of the new economy has shown how modern management principles may come and go. The rise and fall of 'dot-coms'have left many people wondering what future business trends and principles will be. Throughout the good and bad times of the changing realities in the 'new'economy, a group of companies has stayed true to its core principles: the hidden champions. Many of the characteristics of the hidden champions run parallel to those of family-run businesses. In fact, many of the hidden champions are exactly that – family-run.

January 1, 2002

Family businesses gain the most useful and effective insights into business practices by learning from the experiences of other family businesses

My task in this article is to share some of the key lessons I have learned from my experience as educator, researcher and consultant working with family businesses around the world. I will distil the implications of these lessons for other business families and family businesses. What follows is subjective and by no means exhaustive but may serve to motivate those who lead families and their businesses.

Maximum complexity

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