Este working paper trata de examinar la naturaleza de la demografia de las empresas espanolas, eu... more Este working paper trata de examinar la naturaleza de la demografia de las empresas espanolas, europeas y norteamericanas atendiendo a su tamano en lo que se refiere a numero de empleados, con datos del 2011.
Introduction TRANSFERING VALUES SESSION Learning from Practice: How to Avoid Mistakes in Successi... more Introduction TRANSFERING VALUES SESSION Learning from Practice: How to Avoid Mistakes in Succession Processes G.Corbetta The Shape of Things to Come- Emotional Ownership and the Next Generation in the Family Firm N.Nicholson&A.Bjornberg EFECTIVE GOVERNANCE SESSION Power as service in Family Business M.A.Gallo A Classification Scheme for Family Firms: From Family Values To Effective Governance To Firm Performance P.Sharma&M.Nordqvist How Values Dilemmas Underscore the Difficult Issues of Governing the Large, Enterprising Family J.L. Ward FAMILY BUSINESS PATTERNS SESSION Towards a Typology of Family Business Systems J.A Davis Embeddedness of Owner-Managers -The Moderating role of values S.Klein Single Family Office: The Art of Effective Wealth Management H.Liechtenstein, R.Amit, M. J.Prats& T.Millay FAMILY BUSINESS VALUES SESIONS The Impact of Family Business on Society F.Casado Fair Process& Emotional Intelligence L.Van der Heyden& Q.Huy Family Firms and the Contingent Value of Board Interlocks: the Spanish Case E.Salvaj, F.Ferraro&J.Tapies Conclusion
Throughout history there have been any number of cases in which the governing bodies of different... more Throughout history there have been any number of cases in which the governing bodies of different companies and institutions have been unprepared or unable to avoid situations that have ended up hurting both the company itself and others. The purpose of this paper is to present a series of real cases with the goal of learning from the most common errors observed in those poor practices. The document compiles a total of 30 cases of poor operations among Boards of Directors and classifies them according to the symptoms observed, without embarking on an analysis of the root causes.
As successful families in business grow in family size and number of shareholders, they commonly ... more As successful families in business grow in family size and number of shareholders, they commonly develop a particular kind of family organization, often referred to as the family council. This family organization usually becomes the family's central governing body. Although family councils are very common among highly complex multigenerational familyowned businesses, implementing them appears to be a challenging task, as each family has its own idea and this idea is likely to evolve over time. With the aim of helping families in business reflect upon or review their family governance system, the present study aims at learning from the experience of 16 Spanish family-owned businesses by analyzing different areas of interest such as the different types of family councils, their key features, the reasons for starting a family council, the objectives of creating a family council, the stages of a family council and the characteristics of other governance structures connected to the family council. Investigating these issues can help multigenerational family-owned businesses to succeed as well-structured organizations that keep the family connected and committed towards a common mission, vision and values. Limitations and future research are also discussed.
This paper examines the perceptions that MBA students hold regarding family-owned businesses comp... more This paper examines the perceptions that MBA students hold regarding family-owned businesses compared to non-family firms. The study is based on the assumption that attracting talent is critical not only for continuous competitive advantage, but also for the survival of family-owned businesses. Therefore, family-owned firms should promote themselves as equally attractive as non-family organizations, in terms of employment opportunities. MBA graduates represent a rich pool of talent that can help family-owned firms to prosper across generations. One avenue of inquiry in this regard is to study MBA students and their perceptions. Consequently, studying whether MBA students hold a specific image regarding family-owned businesses is brought to the forefront. With this aim, the authors engaged in an enquiry process, dealing with MBA students' perceptions of the strengths and weaknesses of family-owned firms, compared to non-family businesses. The sample was composed of 213 MBA students from 20 different countries. The results showed that MBA students do indeed hold a particular image regarding family-owned firms. More specifically, some of the findings are that MBA students perceive family-owned firms as having more problems within the ownership than non-family businesses, are not as good as non-family firms in attracting talented managers, have less job rotation, are slower in their internationalization processes, are slower in the implementation of new technologies, have more difficulty in issuing equity and the age of retirement is often higher than in non-family firms. Limitations of the study and future research are also discussed.
Este working paper trata de examinar la naturaleza de la demografia de las empresas espanolas, eu... more Este working paper trata de examinar la naturaleza de la demografia de las empresas espanolas, europeas y norteamericanas atendiendo a su tamano en lo que se refiere a numero de empleados, con datos del 2011.
Pu ub bl li is sh he ed d b by y t th he e C Ch ha ai ir r o of f F Fa am mi il ly y B Bu us si i... more Pu ub bl li is sh he ed d b by y t th he e C Ch ha ai ir r o of f F Fa am mi il ly y B Bu us si in ne es ss s * Professor of General Management, IESE
This book gathers together the stories of 100 companies organized by country and; within each sec... more This book gathers together the stories of 100 companies organized by country and; within each section; by seniority.1; The epilogue outlines some of the reflections that arise from reading these stories as suggested in this introduction. The actual novelty is; however; that what the reader will find in these pages are the very lessons on how said 100 companies managed to survive for more than a century.; We hope that many of these “lessons from history” are applicable to our readers’ businesses in the present day.; Students at business schools are considered to be a key component of their own individual training process; which is developed through discussion via the case method. Likewise; we have considered our readers to be a key component in the learning opportunities offered by these 100 stories.; While in most books written by academics the authors offer their conclusions systematically and defend them with examples; our aim is; rather; the opposite: to present the 100 company h...
El libro recoge las historias de 100 empresas organizadas por paises, en orden alfabetico, y dent... more El libro recoge las historias de 100 empresas organizadas por paises, en orden alfabetico, y dentro de el, por orden de antiguedad. La contribucion del libro reside en las cien historias contadas: lo novedoso es la presentacion conjunta de cien historias de empresas que, de alguna forma, contribuyeron al desarrollo de la revolucion industrial o la aprovecharon ventajosamente. Aunque en el epilogo apuntamos algunas de las reflexiones que surgen tras la lectura de estas historias desde la perspectiva que sugerimos en esta introduccion, la autentica novedad de estas paginas se encuentra en el propio aprendizaje que el lector puede extraer al comprender como estas 100 empresas han logrado sobrevivir mas de cien anos. Esperamos que muchas de esas «lecciones de la historia» sean aplicables en la actualidad a los negocios de los potenciales lectores. Al igual que en las escuelas de direccion consideramos al participante como una parte esencial de su propio proceso de formacion, que se va f...
ABSTRACT ¿Cuánto del modelo del fundador/a ha sido heredado por sus hijos? El ánimo de comparació... more ABSTRACT ¿Cuánto del modelo del fundador/a ha sido heredado por sus hijos? El ánimo de comparación puede producir diversos efectos en la persona que crece y más cuando el progenitor ha sido una persona de éxito y de reconocimiento social.
Una operacion de compra-venta es un paso muy importante, tanto para el empresario como para el di... more Una operacion de compra-venta es un paso muy importante, tanto para el empresario como para el directivo, asi como para la empresa, y conviene no iniciarla si no se dan los factores que indiquen que existe una minima probabilidad de exito.
ABSTRACT This chapter explores the role of family firms in Spanish interlocking directorates. We ... more ABSTRACT This chapter explores the role of family firms in Spanish interlocking directorates. We studied a sample of the 396 largest Spanish firms and their 2417 directors, and found that family firms are less central in the Spanish interlocks than non-family firms. Family firms avoid the creation of direct links among them by sharing independent directors. Nevertheless, the network of the top family firms is denser than expected thanks to a few directors that span family firms and non-family firms. We conclude by developing a set of propositions on the factors that explain the construction of interlock networks in family firms.
Este working paper trata de examinar la naturaleza de la demografia de las empresas espanolas, eu... more Este working paper trata de examinar la naturaleza de la demografia de las empresas espanolas, europeas y norteamericanas atendiendo a su tamano en lo que se refiere a numero de empleados, con datos del 2011.
Introduction TRANSFERING VALUES SESSION Learning from Practice: How to Avoid Mistakes in Successi... more Introduction TRANSFERING VALUES SESSION Learning from Practice: How to Avoid Mistakes in Succession Processes G.Corbetta The Shape of Things to Come- Emotional Ownership and the Next Generation in the Family Firm N.Nicholson&A.Bjornberg EFECTIVE GOVERNANCE SESSION Power as service in Family Business M.A.Gallo A Classification Scheme for Family Firms: From Family Values To Effective Governance To Firm Performance P.Sharma&M.Nordqvist How Values Dilemmas Underscore the Difficult Issues of Governing the Large, Enterprising Family J.L. Ward FAMILY BUSINESS PATTERNS SESSION Towards a Typology of Family Business Systems J.A Davis Embeddedness of Owner-Managers -The Moderating role of values S.Klein Single Family Office: The Art of Effective Wealth Management H.Liechtenstein, R.Amit, M. J.Prats& T.Millay FAMILY BUSINESS VALUES SESIONS The Impact of Family Business on Society F.Casado Fair Process& Emotional Intelligence L.Van der Heyden& Q.Huy Family Firms and the Contingent Value of Board Interlocks: the Spanish Case E.Salvaj, F.Ferraro&J.Tapies Conclusion
Throughout history there have been any number of cases in which the governing bodies of different... more Throughout history there have been any number of cases in which the governing bodies of different companies and institutions have been unprepared or unable to avoid situations that have ended up hurting both the company itself and others. The purpose of this paper is to present a series of real cases with the goal of learning from the most common errors observed in those poor practices. The document compiles a total of 30 cases of poor operations among Boards of Directors and classifies them according to the symptoms observed, without embarking on an analysis of the root causes.
As successful families in business grow in family size and number of shareholders, they commonly ... more As successful families in business grow in family size and number of shareholders, they commonly develop a particular kind of family organization, often referred to as the family council. This family organization usually becomes the family's central governing body. Although family councils are very common among highly complex multigenerational familyowned businesses, implementing them appears to be a challenging task, as each family has its own idea and this idea is likely to evolve over time. With the aim of helping families in business reflect upon or review their family governance system, the present study aims at learning from the experience of 16 Spanish family-owned businesses by analyzing different areas of interest such as the different types of family councils, their key features, the reasons for starting a family council, the objectives of creating a family council, the stages of a family council and the characteristics of other governance structures connected to the family council. Investigating these issues can help multigenerational family-owned businesses to succeed as well-structured organizations that keep the family connected and committed towards a common mission, vision and values. Limitations and future research are also discussed.
This paper examines the perceptions that MBA students hold regarding family-owned businesses comp... more This paper examines the perceptions that MBA students hold regarding family-owned businesses compared to non-family firms. The study is based on the assumption that attracting talent is critical not only for continuous competitive advantage, but also for the survival of family-owned businesses. Therefore, family-owned firms should promote themselves as equally attractive as non-family organizations, in terms of employment opportunities. MBA graduates represent a rich pool of talent that can help family-owned firms to prosper across generations. One avenue of inquiry in this regard is to study MBA students and their perceptions. Consequently, studying whether MBA students hold a specific image regarding family-owned businesses is brought to the forefront. With this aim, the authors engaged in an enquiry process, dealing with MBA students' perceptions of the strengths and weaknesses of family-owned firms, compared to non-family businesses. The sample was composed of 213 MBA students from 20 different countries. The results showed that MBA students do indeed hold a particular image regarding family-owned firms. More specifically, some of the findings are that MBA students perceive family-owned firms as having more problems within the ownership than non-family businesses, are not as good as non-family firms in attracting talented managers, have less job rotation, are slower in their internationalization processes, are slower in the implementation of new technologies, have more difficulty in issuing equity and the age of retirement is often higher than in non-family firms. Limitations of the study and future research are also discussed.
Este working paper trata de examinar la naturaleza de la demografia de las empresas espanolas, eu... more Este working paper trata de examinar la naturaleza de la demografia de las empresas espanolas, europeas y norteamericanas atendiendo a su tamano en lo que se refiere a numero de empleados, con datos del 2011.
Pu ub bl li is sh he ed d b by y t th he e C Ch ha ai ir r o of f F Fa am mi il ly y B Bu us si i... more Pu ub bl li is sh he ed d b by y t th he e C Ch ha ai ir r o of f F Fa am mi il ly y B Bu us si in ne es ss s * Professor of General Management, IESE
This book gathers together the stories of 100 companies organized by country and; within each sec... more This book gathers together the stories of 100 companies organized by country and; within each section; by seniority.1; The epilogue outlines some of the reflections that arise from reading these stories as suggested in this introduction. The actual novelty is; however; that what the reader will find in these pages are the very lessons on how said 100 companies managed to survive for more than a century.; We hope that many of these “lessons from history” are applicable to our readers’ businesses in the present day.; Students at business schools are considered to be a key component of their own individual training process; which is developed through discussion via the case method. Likewise; we have considered our readers to be a key component in the learning opportunities offered by these 100 stories.; While in most books written by academics the authors offer their conclusions systematically and defend them with examples; our aim is; rather; the opposite: to present the 100 company h...
El libro recoge las historias de 100 empresas organizadas por paises, en orden alfabetico, y dent... more El libro recoge las historias de 100 empresas organizadas por paises, en orden alfabetico, y dentro de el, por orden de antiguedad. La contribucion del libro reside en las cien historias contadas: lo novedoso es la presentacion conjunta de cien historias de empresas que, de alguna forma, contribuyeron al desarrollo de la revolucion industrial o la aprovecharon ventajosamente. Aunque en el epilogo apuntamos algunas de las reflexiones que surgen tras la lectura de estas historias desde la perspectiva que sugerimos en esta introduccion, la autentica novedad de estas paginas se encuentra en el propio aprendizaje que el lector puede extraer al comprender como estas 100 empresas han logrado sobrevivir mas de cien anos. Esperamos que muchas de esas «lecciones de la historia» sean aplicables en la actualidad a los negocios de los potenciales lectores. Al igual que en las escuelas de direccion consideramos al participante como una parte esencial de su propio proceso de formacion, que se va f...
ABSTRACT ¿Cuánto del modelo del fundador/a ha sido heredado por sus hijos? El ánimo de comparació... more ABSTRACT ¿Cuánto del modelo del fundador/a ha sido heredado por sus hijos? El ánimo de comparación puede producir diversos efectos en la persona que crece y más cuando el progenitor ha sido una persona de éxito y de reconocimiento social.
Una operacion de compra-venta es un paso muy importante, tanto para el empresario como para el di... more Una operacion de compra-venta es un paso muy importante, tanto para el empresario como para el directivo, asi como para la empresa, y conviene no iniciarla si no se dan los factores que indiquen que existe una minima probabilidad de exito.
ABSTRACT This chapter explores the role of family firms in Spanish interlocking directorates. We ... more ABSTRACT This chapter explores the role of family firms in Spanish interlocking directorates. We studied a sample of the 396 largest Spanish firms and their 2417 directors, and found that family firms are less central in the Spanish interlocks than non-family firms. Family firms avoid the creation of direct links among them by sharing independent directors. Nevertheless, the network of the top family firms is denser than expected thanks to a few directors that span family firms and non-family firms. We conclude by developing a set of propositions on the factors that explain the construction of interlock networks in family firms.
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