There are many subtle nuances to navigating the interactions between fathers, mothers, daughters, sons, siblings and cousins who are also the founders, inheritors, owners and decision makers of a business. How and whether each individual family member adopts their multiple roles in the family business can become the deciding factor between harrowing conflict or stellar success.
In our 39th special feature, we explore four unique perspectives that speak to the many definitions of adopting or changing roles within the context of the family business.
Also in this issue family business stories from Italy, Iceland, the UK, Peru, Singapore, Canada, the US, Chile, France, the UAE and more.
Articles
INDIA – TATA MOTOR’S SHARE PRICE DROPS AFTER IT REPORTS ITS WORST QUARTERLY EARNINGS IN A DECADE
The drop in revenue is a result of excise duty changes in China and uncertainty in Europe surrounding diesel vehicles. Despite the downturn,...
Indomitable entrepreneurial spirit, an unshakeable belief in the power of collaboration and the value of family, are the qualities that come to mind when discovering the successful career of Peruvian businessman Oswaldo Hidalgo.
Leaving his childhood home to work in...
Perpetuating success with a product-based business model for over a century is an incredible achievement. However, even such a well-established business has the difficult task of continually adapting to a marketplace in flux while not losing sight of its...
Alberta’s thriving economy of the 1990s often referred to as the second oil boom, had wide-reaching economic implications for Calgary. As people migrated from other parts of Canada to the province’s largest city to take part, the housing market...
In the early 1970s, a former air force radar technician living in California discovered that the promotional whistle included in boxes of Cap'n Crunch cereal generated a tone that he could use to make long distance phone calls for...
Drayton Manor Theme Park is an iconic British family fun destination. Its longevity and award-winning facilities, including several large rides and a zoo have made it a national institution.
Operations began when Vera and George Bryan, OBE, started installing rides...
Flexibility is often touted as the single most valuable asset when it comes to sustaining success, and some family businesses try to foster this by encouraging family members to fill many overlapping roles simultaneously. However, any competitive edge provided...
It is universally acknowledged that the close relationships between family members can define the success of family businesses or lead to their downfall. Conflict is more likely between family members than professional associates - it’s human nature. At the...
It’s a common refrain: successful business models are defined by their agility – being able to adapt to industry disruption and rapidly changing consumer trends is key to longevity.
Does this apply to the world of fine jewellery? A world...
According to the World Travel & Tourism Council, the industry they represent contributes over $7 trillion to the world’s GDP, accounts for over 200 million jobs, and is projected to outperform the global economy through to 2027. Impressive for...
When it comes to next-generation involvement in the family business, there is no definitive model for success. Family businesses are as unique as the goods and services they provide, and circumstances of succession are similarly exceptional.
Phyllis Ong’s career, which...
Icelandic family business Fridheimar is unique: a restaurant in a greenhouse that serves only tomato-based dishes set against the backdrop of an idyllic horse farm. Knutur Rafn Armann and Helena Hermundardottir, owners and operators of Fridheimar (Icelandic for world...
Comedian Joey Adams said, "The difference between playing the stock market and the horses is that one of the horses must win."
It exposes a truism that pertains to all modern trading constructs: it’s risky business. From Venetian money-lenders exchanging...
Despite a considerable amount of overlap, coaching and mentoring are two distinct methods of personal development for individuals working within an organisation. Most notable among the qualities that set them apart are scope, duration and formality. Mentoring and coaching...
According to Fernanda Hurtado, the call came completely out of the blue.
A recruiter was looking for someone to boost growth, increase membership and rethink the model of the Chilean AEF, which translates to the Association of Family Business. Hurtado...
It goes by several names, operates in an infinite number of ways and has the undeniable potential to revolutionise the working world. The freelance economy or gig economy as it’s sometimes known denotes the transition from full-time salaried employment...
