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The Next Generation Can Help the Family Firm Innovate

  Much has been written about how family businesses can have transition problems when the founder's children take over.  Best Buy founder Richard Schulze and Ritch Sorenson of the Read More...

Category: Commentary

Authors: Richard Schulze and Ritch Sorenson

How Family Firms Help Non-Family Employees Feel Like Family

Family businesses often behave in unique ways: They forego business opportunities to retain the family’s control over the business, stick to family traditions that are outdated, and prefer family Read More...

Category: Applied and Practice

Authors: Peter Jaskiewicz , Josh Hsueh , Elizabeth Tetzlaff and Giovanna Campopiano

The Biggest Mistakes Family Businesses Make With Their Boards

Family business researcher, lecturer, and advisor Claudia Binz Astrachan has studied first-hand how effective boards of directors steer family business management towards strategies that make the Read More...

Category: Interviews

Author: Kimberly Eddleston

How Family Businesses Survive Unexpected ‘Wild Cards’

One of the key concerns for family businesses is continuity. Unlike non-family firms, many family businesses display a longevity that may span over centuries. In order to survive such long periods, Read More...

Category: Research Insight

Authors: Wojciech Czakon , Monika Hajdas and Joanna Radomska

Advice for Family Business Successors: Be Humble and Curious

  David Bentall found out the hard way that his leadership of his family's construction and real estate firm wasn't working: his own uncle removed him from the company. Losing his job was a Read More...

Category: Interviews

Author: Kimberly Eddleston

Advice for Untangling Conflict in a Family Business

Janme Sinha became intrigued by family business conflict and dynamics when a distraught friend confided that his recently deceased father had left all of the shares of the family business to his Read More...

Category: Commentary

Author: Kimberly Eddleston

Family CEO Burnout: How to Prevent, Recognize and Deal With It

Between COVID, supply chain issues, armed invasions, unstable markets, and the great resignation with millions of workers leaving the workforce (Parker & Menasce Horowitz, 2022) – or, more Read More...

Category: Commentary

Authors: Lars B. Sonderegger , Claudia Binz Astrachan and Joseph Astrachan

Firm But Flexible Parents Raise the Best Family Business Leaders

In their aim to raise the next generation of family business leaders, parents often question if their parenting style is effective. They often ask themselves: Am I being too lenient or too strict? Am Read More...

Category: Research Insight

Authors: Kimberly Eddleston , Kristen Shanine and Kristen Madison

What All Family Businesses Can Learn From the Merck Family

The Merck family business dates back to this apothecary, founded in 1668. The German Merck family has succeeded where many business families have failed: Keeping a group of 319 family members, Read More...

Category: Commentary

Authors: Tom Rüsen , Claudia Binz Astrachan and Frank Stangenberg-Haverkamp

How to Keep Remote Workers Inspired and Engaged

Like all kinds of firms, family businesses have undergone a culture shock because of the pandemic. After starting out in the pandemic’s early days as a survival mechanism, remote work is now Read More...

Category: Commentary

Author: Jay Mulki