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Marc Puig Guasch, third-generation principal of the global $1.8 billion Spanish family-owned fashion and fragrance business Puig, hails his father as a “titan with a human touch” who led by listening and brought out the best in people.

Marc Puig Guasch, third-generation principal of the global $1.8 billion Spanish family-owned fashion and fragrance business Puig, hails his father as a “titan with a human touch” who led by listening and brought out the best in people.


Bernhard Gademann says his family’s elite Swiss private boarding school, Institut auf dem Rosenberg, is run like a 132-year-old startup, with the skills and attitudes of entrepreneurialism nurtured in students in a state-of-the-art, holistic learning environment.

Bernhard Gademann says his family’s elite Swiss private boarding school, Institut auf dem Rosenberg, is run like a 132-year-old startup, with the skills and attitudes of entrepreneurialism nurtured in students in a state-of-the-art, holistic learning environment.

The most common stereotype about the next-gen members of a family business is that they are arrogant and overconfident and expect everything to come easily to them. But the reality is that these Gen Y and Z members become overwhelmed with self-doubt over joining the family business.

The most common stereotype about the next-gen members of a family business is that they are arrogant and overconfident and expect everything to come easily to them. But the reality is that these Gen Y and Z members become overwhelmed with self-doubt over joining the family business.


IFB

Our 2004 Conference brought together a broad group of speakers including some leading family business owners – from across the UK, Ireland, Switzerland and the Netherlands – to discuss their perspectives on the issue of managing transitions. Here’s my pick of some of the most interesting discussion points that came up.

One of the first features I wrote was on how easy it can be to drift into the family business.

Many younger generation members find themselves in the position of a predestined future in the family business. This personal experience argues that work experience outside the family business is good preparation

Successful business families can provide their children a sense of well-being and privilege, but in doing so are they sheltering them from adversity, or denying the next generation a golden opportunity to be challenged?

By using the ‘four phases of succession’ a family business owner can pinpoint precisely where the business is and then smoothen the transition to the next generation. But the key is to take painstaking care during the early phases

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