Corporate Governance

Sustaining the Family Enterprise

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Why do some families have the uncanny ability to sustain their wealth and/or enterprise across multiple generations? Although some families claim good fortune and favorable luck, strategic planning and goal setting are significant contributors to successful business and wealth transfer. Other criteria play a part as well, such as how families make their decisions (governance), and how they are able to innovate, adapt, and compete (entrepreneurial orientation). Do enterprises with a higher incidence of entrepreneurial orientation from one generation to the next have a greater likelihood of sustaining the family enterprise to the third generation and beyond? Does governance really make a difference in terms of sustaining the family enterprise? How does entrepreneurial orientation and governance impact overall sustainability of the business and wealth, and what is the perception of the family members on their importance? These questions will be more broadly discussed in this report. We begin with highlights from the key findings of the SFES.
Bibliographic citation: GenSpring Family Offices, "Sustaining the Family Enterprise: The Intersection of the Family Business & the Family Office", GenSpring Family Offices, 11/2012
Date: 11/2012
Author(s): GenSpring Family Offices
Document type: Study and Monograph
Sponsor(s): GenSpring Family Offices; University of North Carolina at Greensboro (UNCG)
Editor(s): Rosplock, K.; Welsh, D.; Roure, Juan; Segurado, Juan Luis
Languages: English