What Successful Family Businesses Do to Survive Beyond the Three Generation Curse
Dennis T. Jaffe, Ph.D., who has been a leading architect of the field of family enterprise consulting and author of “Borrowed from Your Grandchildren: The Evolution of 100-Year Family Enterprises” joins Enterprise Radio.
This episode of Enterprise Radio is in association with the Author Channel.
- Why study long-term family businesses? What’s special and important about them?
- You interviewed 100 large global family businesses that had been together for more than three generations, as a successful family and business. There are so few of them, even though they are large and important. Why study them?
- You say these families are “generative” value-creating. What do you mean by that?
- We hear about shirtsleeves to shirtsleeves, and about how families sell or lose their business, and other negative stories about family business. Your generative families you report, are resilient. What does that mean?
- In what ways did you find that these families manage to grow and innovate over generations? How do they build innovation into their family culture, rather than just feel comfortable with their considerable wealth?
- We hear all about how the young generations of family business are entitled, or not well equipped for leadership. What did the families in your study manage to develop successful leadership and commitment for several generations?
Dennis T. Jaffe, Ph.D., has been a leading architect of the field of family enterprise consulting and is an acclaimed speaker and workshop leader in programs for business families and financial service firms.
Dennis is a research associate at Wise Counsel Research, and leads their 100-Year Family Enterprise Research Program. He is also Family Business Scholar at the Smith Family Business Program at Cornell University, a faculty advisor at the Ultra High Net Worth Institute, and a regular contributor to Forbes Leadership channel reporting on cross-generational family business and wealth.
His new book is Borrowed from Your Grandchildren: The Evolution of 100-Year Family Enterprises (Wiley, 2020).
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