When the going gets tough, the resilient family gets going.
Recent studies have shown family businesses are more resilient than public companies during challenging economic times, in part due to the strength of its corporate family values and long-termism, for they think in generations, not financial quarters.*
Family businesses already face unique challenges in managing and growing the business, while nurturing family relationships and maintaining stakeholder relations. Differences in generations, ownership structures and business maturity require different strategies for continuous growth and sustainability in emerging Asia. Compounding these challenges are external factors that create turbulence, such as economic downturns, sudden deaths of family leaders, marital breakups or additions to the family, and explosive geo-political threats.
Accounting for more than 60% of businesses in Asia῀, family controlled businesses are the strong pillars of many emerging Asian economies, their success has rippling impact on the communities they operate in – providing employment, stimulating economic growth and contributing to social development.
How do strong families overcome business challenges and critical issues unique to families in business to transfer their values, wealth and business to successive generations?
* FBN-Egon Zehnder, Leadership Succession: Best Practices from the World’s Leading Family Businesses,2014
FBN-EY, Built to last: Family Businesses lead the way to sustainable growth, 2012
~ * Mckinsey, Attributes of Enduring family business, 2010
The Emerging Leaders Programme
This is a customised experiential learning programme offered to the Next Generation family business leaders to supplement and develop their management skills and business acumen in navigating the challenging relationships in a family business. Taught by FBN Asia members, leaders of prominent Asian family business who have led their families through multiple turbulent business cycles in the last 30 years, participants will have the opportunity to learn different leadership approaches to managing relationships, change and risk.
The learning process will be facilitated by FBN Asia board members, Dr Vincent Chian and Law Gin Kye, who also lead their family businesses, and based on extensive research by and collaboration with expert consultant to successful multi-generational business families, Professor Dennis Jaffe from USA.
You will identify blind spots, reflect on your perceptions of leadership and success, as you address universal issues that apply to your family and business.
This programme will lead you to discover:
- Best strategies and governance structures for your family to preserve and grow your family business and wealth as you find and harness your family strengths and values regardless of turbulent times
- How to optimize communication in crises, and strengthen team spirit amongst family members and non-family managers to add value over generations
- How to develop and implement a practical action plan for your family as you prepare to assume leadership and ownership responsibilities
- Be part of an Emerging Leaders Circle for post-programme peer mentoring, supported by FBN Asia