The Family Enterprise Challenge
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Addressing family firms' unique challenges
Family-owned enterprises face special challenges. Who will lead the family and/or the firm into the next generation? How to disentangle personal and business relationships? Should long-term investment take precedence over short-term dividends?
Get the answers wrong and the results can be disastrous – for family and firm alike. Get them right and you will have a high-performance business and a happy, wealthy family.
The Family Enterprise Challenge is designed to help you address the universal issues as they apply to your own business and family. It combines rigorous learning – based on the latest research – with practical workshops. Over four and a half intensive days, teams of two to eight representatives from each participating firm learn from each other and INSEAD’s expert professors by sharing, reflecting and above all applying new behaviours. Strict confidentiality is maintained throughout the course.
HOW YOU BENEFIT
- Develop a concrete action plan for career planning, talent development, family meetings, family agreements and governance.
- Gain insights into the psychological dynamics of family leadership, business management, and family and business governance.
- Learn to manage conflict, complex family structures, diverse personalities and difficult relationships.
- Master a range of powerful family business tools, such as the Parallel Planning Process and Fair Process (both unique to INSEAD).
All sessions take a distinctively international and interactive approach, reflecting the cosmopolitan make-up of the participants and leveraging their rich experience. Over four and a half days, you will cover the following topics using a wide variety of stimulating learning materials developed specifically for the programme at INSEAD. Most sessions are anchored in a real-life case study from a family business.
- ADDRESSING THE FAMILY BUSINESS SYSTEM AND CHALLENGES
- UNDERSTANDING AND STRENGTHENING FAMILY RELATIONSHIPS
- ALIGNING FAMILY OWNERSHIP, BUSINESS STRATEGY AND GOVERNANCE
- DEVELOPING NEW SKILLS TO IMPROVE FAMILY HARMONY AND BUSINESS PERFORMANCE
- ACTION PLANNING, EXECUTION AND FOLLOW-UP
PARALLEL PLANNING PROCESS MAP
The Parallel Planning Process (PPP) outlined in the diagram below was developed at INSEAD to help business families plan for both the business and the family – two very different but interlocking systems.
The strength of the Parallel Planning Process is not just that it works. It is that the Parallel Planning Process is applicable the world over. It is rooted in the shared values of the individual family rather than inappropriate notions of ‘universal’ best practice.
The programme does not simply teach the Parallel Planning Process. An intensive workshop uses visual and listening techniques to give all those present a voice about values and vision – and thus acts as a springboard for the process of real-life planning.
WENDEL INTERNATIONAL CENTRE FOR FAMILY ENTERPRISE
The fast-growing field of family business is at the forefront of research and teaching at INSEAD. The activity initiated by the Wendel family (active in business since 1704) has received substantial support from several family businesses and individuals in Europe (Tetra Laval, Berghmans/Lhoist, and André and Rosalie Hoffmann). The Centre is dedicated to helping the owners and executives of family-controlled organisations address their specific issues. It conducts research, develops programmes and runs events. Family businesses can also benefit from tailor-made programmes for their owners and managers.
Who should attend
We recommend that participants attend the programme in teams of at least two to eight members from the same family enterprise. This may include non-family managers or directors. The more team members you bring, the more perspectives and issues you will address – and the more you will all learn. You will also be able to implement changes more effectively and efficiently, when you return to work and home.