The family firm is probably the longest-established economic entity in human history, and family-owned or controlled businesses continue to form the majority of enterprises in all major economies.
Yet the familiar understanding of the family firm, as a singular entity, is in many ways a misleading and dated notion. Increasingly, the most entrepreneurial families nurture and develop a portfolio of enterprises and investment vehicles. In some cases, the family have departed completely from the sector in which the original, or legacy, firm was established. Their enterprising members have created a cluster of businesses, often highly innovative and contributing significantly to economic development in the region or regions in which they operate.
This book charts the development of such portfolios, and offers practical advice regarding their development: covering governance, strategy, risk management, leadership, succession, financial management, and business development. The book addresses the particularly challenging issues such families have to confront, such as: How is a family business portfolio developed? What about the often rather complex relationships in such firms, say between the owning family business unit and various subsidiaries? When conflicts occur, how are they resolved? What about the future of these family business portfolios? Are family offices established to cope with these challenges?
Giới thiệu về tác giả
Dr Peter Lorange combines direct business experience, including entrepreneurial success, with academic research. As chair of S. Ugelstad Invest, he has overseen the sale of a legacy business in the shipping industry and the development of a thriving portfolio covering shipping, real estate, business education, stocks/bonds and ventures. He is the founder of the Lorange Network, an innovative business education service established in 2018 that grew rapidly before its sale to IMD Business School. As a business academic and honorary president of IMD, he is able to blend academic rigor with his direct business experience to offer a guide to findings on family business portfolios, combined with advice on their effective stewardship.
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