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How Family Businesses Can Build a Social Mission By Kerry Hannon on Wed Dec 19 2018 Family firms can turn shared values into community impact by choosing causes carefully, starting small and building philanthropy into long-term business goals. Article originally published at Read more
Why Family Businesses Need Formal HR Policies By Kimberly Eddleston and Roland Kidwell on Tue Dec 18 2018 Informal people practices can create favoritism, confusion and conflict. Formal HR rules help family firms treat employees fairly and improve performance. Hiring, training, appraising and Read more
Why Family Businesses Lose Valuable Non-family Executives By Kimberly Eddleston and Madison Mailey on Sun Nov 18 2018 A key executive quit after years of uncertainty about pay, ownership and succession. The case shows why family firms must communicate career paths before problems erupt. NOTE TO TEACHERS: The Read more
How to Sell When You Have Never Sold Anything Before By Kimberly Eddleston on Mon Nov 12 2018 Interviewee: Lisa Lazure , Steven Mould Steven Mould built Flint & Flame by combining confidence, passion and product belief with a willingness to listen to customers and refine the offer. Entrepreneurs must believe in their products or Read more
Eight Signs You May Be Trapped in Your Family Business By Michael Klein on Tue Oct 09 2018 Family members can feel stuck when career goals, identity and family expectations become intertwined. These questions can help reveal whether it is time for change. For some individuals, working in a Read more
Why Family Business Successors Are Starting Their Own Companies First By Nadine Kammerlander and Larissa Leitner on Mon Sep 17 2018 Many next-generation family members launch startups to gain independence, credibility and skills before deciding whether to join the family business. Family businesses are the backbone of many Read more
Six Ways the German Mittelstand Innovates With Limited Resources By Alfredo De Massis on Thu Sep 13 2018 Research identifies six practices that help Germany's Mittelstand family firms innovate successfully despite constraints on capital and talent. Family firms often face limits on the financial and Read more
Why There Should Be No Birthright to a Job in the Family Business By Kimberly Eddleston on Mon Sep 03 2018 Interviewee: Joseph Brito, Jr. Joe Brito says relatives should earn their place by starting at the bottom, learning the business and proving themselves before moving into leadership roles. Joe Brito, the third-generation head of Read more
Why Family Businesses Need Both Accountability and Collaboration By Roland Kidwell and Kathryn Kloepfer on Wed Aug 29 2018 Strong family firms hold employees accountable while preserving trust, harmony and flexibility. Combining both approaches can improve employee effort and performance. Family businesses have unique Read more
Why Family Businesses Need Outside Leaders to Survive Across Generations By Robert Sher on Tue Jul 31 2018 Family firms can outgrow the skills of their founders. Hiring experienced outside leaders can strengthen the business and prepare the next generation to lead. Cultures around the world acknowledge Read more