Family Business Magazine Blog
A recent article in The Practitioner -- an online publication of the Family Firm Institute, an organization for professionals who advise and study family enterprises -- pointed out the difference between "firm survival over time" (continuity of a family business through the years) and "longevity of a family enterprise" (a family's ability to create wealth and value over generations).
The Practitioner article -- by Pramodita Sharma, the Sanders Professor for Family Business at the University of Vermont's School of Business Administration and a visiting scholar at Babson College -- argued that family enterprise success can be defined in ways other than leadership transfer from one generation to the next. "Both the creative destruction of firms and pruning of the enterprising family are integral parts of longevity of an enterprising family ....," Sharma wrote. "Recent reviews of the research on succession, governance, professionalization and performance all point in the same direction -- that one size does not fit all and the overarching numbers of ‘success' are insufficient to capture the complexity and heterogeneity of family enterprises and their pathways to success."
Family Business Magazine's cover subjects for May/June 2014, the Power family, sold J.D. Power and Associates to McGraw-Hill in 2005....Read more
Free Feature Article
Sexual harassment can no longer be ignored. Do you have the right policies, procedures and infrastructure in place to prevent it and respond to complaints?
The #MeToo movement, sparked by October 2017 articles in the New York Times and New Yorker detailing sexual harassment and assault claims against film mogul Harvey Weinstein, triggered an ongoing wave of allegations that has felled once-powerful figures in Hollywood, politics, the media, the hospitality industry and other fields.
For family business owners, l’affaire Weinstein proves how high the stakes are.
In a long-overdue move, the board of The Weinstein Co. fired Weinstein — co-founder of the studio with his brother Bob — after the Times and New Yorker reports were published. On March 1, 2018, after negotiations marked by several twists and turns, the near-bankrupt company reached a deal to sell most of its assets to an investor group led by Maria Contreras-Sweet, former administrator of the Small Business Administration. The Weinstein brothers will receive no cash from the sale. The deal includes a compensation fund for victims, and the buyers will pay off the company’s debt. A suit against the brothers filed by New York attorney general Eric Schneiderman, charging that they repeatedly violated state and city laws against gender discrimination,...Read more
Taking Stock explores all the questions, relationships and emotions universal among family businesses, as well as themes — guilt, survival and apartheid — unique to a prosperous Jewish merchant family in South Africa.
Watch the trailer for Taking Stock.