In a Post Covid World, family businesses, could be best summed up through the following statement: There are unique challenges with a family business, particularly when it comes to making tough decisions in difficult times.
When the going gets tough and families are feuding, fairness is always an issue—and usually, it’s about more than just money. Managing family-owned enterprises and managing family wealth is no easy feat. Family businesses sometimes struggle to define fairness among family members. Why is it so hard to define fairness?
This week the Family Business Office, for its nineteenth edition of Focus On World Family Business Leaders, brings you Dr Wolfram Freudenberg, fifth generation heir of the very diversified multinational family business of Freudenberg Group.
When two or more next-generation members are working in the family enterprise, it is normal for them to be assigned to different functional areas of the business.
This week Family Business Office, for its eighteenth edition of Focus On World Family Business Leaders , brings you Marie Christine Coquette, fifth generation heir and chairperson of Sonepar and Colam Entreprendre , the worldwide family business leader of electrical equipment.
We often hear comments from the Next Generation family business members of an enterprising family that indicate they do not see opportunities to engage: “no one cares what we think, no one listens to me, they do not think I know enough to contribute.” Leading Generation members of those same family businesses may say: “the Next Gens just aren’t stepping up like we hoped.”
This week Family Business Office, for its seventeenth edition of Focus On World Family Business Leaders , brings you Simone Bagel Trah , third generation and Chairwoman of the family business Henkel Group.
It is a known fact that fewer than 30% of successful family businesses make it to the third generation, and fewer than 15% make it through that generation. Growing complexity can complicate family relationships and become a barrier to the long-term sustainability of the business.
This week the Family Business Office, for its sixteenth edition of Focus On World Business Leaders , brings you August Oetker. The Dr Oetker Family Business is now approaching its fifth generation , proof that family businesses can survive the test of time.
Is the right successor to be sourced externally or internally in a family business ? That is the debate many a family business deals with.
