Resumen de Leadership lessons from great family businesses
Claudio Fernandez-Araoz, Sonny Iqbal, Jörg Ritter
According to the Family Business Institute, only 30% of family businesses last into the second generation, 12% remain viable into the third, and 3% operate into the fourth generation or beyond. Those that do continue often see their value decline significantly as a result of mismanaged succession. The authors, all associates of the global executive search firm Egon Zehnder, partnered with Family Business Network International to analyze 50 leading family firms. Through interviews with both family and nonfamily executives, they discovered that the most successful of these companies do four things well: (1) They establish good governance practices that separate the family and the business and ensure oversight from a professional board. (2) They are careful not to lose what makes them special—a quality the authors call “family gravity.” (3) They assess future leaders on alignment with company values as well as on competencies. (4) They follow a disciplined selection process when considering candidates for the top post, and take care to provide meaningful support during the integration process. INSETS: Idea in Brief.;About the Research.
