Family leaders must have the courage and stamina to create an inclusive, participative, and results-driven culture in the family and business, supported by the right policies and systems. Such a foundation will set the stage for a family legacy which both sustains across multiple future generations, and grows along the way with each group driving growth and diversification and making its own mark.
“Moments of crisis can bring families together or they tear them apart – the choice is ultimately theirs…”
Why is it hard to find good successors? We believe that the root issues occur earlier in the lives of next-gen members, linked to the manner in which they experience their family’s wealth and legacy during adolescence and early adulthood.
Welcome to the latest edition of LGA Insights! We originally launched this newsletter to provide you with access to LGA’s latest research and ideas on family enterprise continuity and have been honored and humbled by the early response. In just a few short months, over a thousand readers have joined our global community and are now using these insights to …
Impact of the 2023 Banking Crisis on Enterprising Families Read More »
Popular news and culture is littered with stories of failed mentorship of the next generation – trust fund kids corrupted by inherited wealth, and young heirs captive to their family legacy while their personal aspirations are ignored or suppressed. And for good reason – these stories and stereotypes frame a subset of very real risks for families as they pursue …
In 2022, four fantastic new advisors joined the LGA global team of experts. Each of the new advisors brings a unique background and experience, expanding LGA’s international perspective and breadths of family business advisory expertise. Our global team of advisors offers a wealth of multi-disciplinary knowledge and international experience to guide our clients on the path to continuity. At LGA …
At some point, all family enterprises will eventually wrestle with this question. You may be a first-generation Founder wondering why you would want to bother with a “real” Board or a Family Council. Why complicate things? Why involve people unnecessarily in decisions that are beyond their expertise? Or you may be a second-generation Sibling Partnership resisting the need for more …
What is the point of
family enterprise governance? Read More »
Fernanda Jaramillo and Ivan Lansberg talk about the importance of having a shared vision for family enterprises to successfully last from generation to generation
Regardless of their success and size, many family enterprises struggle with succession process. Last year alone, we saw otherwise healthy telecom giants, fashion houses, and construction stalwarts deteriorate into conflict because they had neglected to address the sensitive question: what happens when a key leader dies or retires? If succession planning is such an obvious requirement for any family enterprise …
In light of the many crises that haunt the daily news cycle, there is one segment of the corporate landscape that seems to be weathering the storm better than most: family businesses.
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