Recent surveys have unveiled a resounding consensus among family business leaders: the imperative to explore untapped territories ranks among the top priorities for strategic evolution.
The article, “Why Next-Gen Leadership Transitions Fail,” describes how full buy-in and holistic commitment to a solid succession plan are essential for success. Denise Federer explains how trust, cooperation from all parties, and transparency will help ensure a smooth transition.
The article, “Preparing the Next Generation: Is it really necessary to work outside of the family firm?” the author discusses the typical advice of requiring next generation leaders to work outside of the family firm for external experience.
Jan Steiner, former president and CEO of Thoro Packaging, a Southern California-based family business, sits down with Ed Hart to share her journey of taking over her father's company and growing it from $1 million to nearly $40 million in revenue. She emphasizes the importance of connection, joy, and self-management in leadership.
For family and privately-held businesses, wealth generation is woven throughout their prosperity, legacy, and future. Recent insights reveal that for many of these businesses, not only does the pursuit of financial wealth define achievement, but also their legacy building. Let’s explore the strategies and considerations that support the continued growth of wealth within family businesses, while also exploring its significance to the family.
Ed Hart sat down with the Director of the Global Family Business Institute at the
Claremont University Drucker School of Management, Dave Specht. Enjoy this conversation between two family business experts and leaders in the field.
The article, “Research Reveals Claw-Back Bonus Schemes Can Lead to Big Losses,” debates the pros and cons of “loss-framed” bonuses, or those pre-paid to sales teams and then “clawed back” if targets aren’t met.