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It is no secret that life expectancy has expanded and the world has become more interconnected, family business leaders face an unprecedented challenge like never before.

The next frontier for family-owned businesses that want to evolve, innovate and lead is taking the bold step into the digital realm. If family businesses can learn how to adopt the digitalisation of their operation than the family business will be well positioned for years to come.

This week the Family Business Office, for its 28^th edition of Focus On goes east bringing you South Korean world giant family business LG Group, headed by Koo Kwang Mo, fourth generation heir and chairman. Curiously, the introduction of Koo Kwang Mo into the family business is the result of unfortunate circumstances.

Family businesses are in theory better equipped to survive than most. They tend to be able to prioritise long-term goals because the owners usually intend to transfer the business to the next generation. This can be a problem if the heir is not as strong as whoever is on the “throne”.

Everybody has heard of the world acclaimed Maersk shipping lines. This week the Family Business Office, for its 27^thedition of ‘Focus On’ brings you Danish giant family business Maersk holding , and its recent appointment of fifth generation heir, Mr Robert Maersk Uggla, chief executive officer at Maersk Moller Holding.

From LEGO to Toyota, family businesses account for as many as two thirds of all companies worldwide. Some date back more than a thousand years, surviving pandemics, financial crisis and waves of industrialization along the way.

This week Family Business Office, for its twenty sixth edition of Focus On brings you French giant family business Auchan holding , until recently headed by Vianney Mulliez.

Perhaps the most quoted statistic in the world of family business is this one: 30% of family businesses make it to the second generation, 10-15% make it to the third and 3-5% make it to the fourth generation.

This week the Family Business Office, for its twenty-fifth edition of ‘Focus On’, introduces second generation heir Lakshmi Mittal. He is the Executive Chairman of ArcelorMittal, the world’s largest steelmaking company, as well as Chairman of stainless-steel manufacturer Aperam.

Surprisingly, some family businesses do not see the value in communicating about their history, their values and their long-term vision as owners of a company. Of course, it is easier not to put the family’s reputation on the line. But that also means missing out on the advantages that come with it.