Master Class Eco-Family Business
Creating an Eco-Innovation Culture in Family Businesses | Building The Future Of Work in Family Businesses in Which Eco-Innovation, Eco-Governance, and Eco-Diversity are Embedded
Research shows that there are billions frozen in family businesses because of disputes between the siblings of the families after the death of the founders of the company. These disputes are caused by a climate of distrust, poor transfer of leadership from one generation to the next, crisis of succession, the next generation does not know how to carry things forward successfully, leader does not know how to manage conflicts effectively, no alignment of the family corporate goals with the goals of the siblings, leader does not know how to manage family organizational change effectively, and unethical behaviors of family members.
About 98 percent of the companies operating in the Gulf Cooperation Council (GCC) are family-owned firms. About 33% of these companies are run by the second generation of the family, 15% are managed by the third generation of the family and only 4% of the companies are operated by the fourth generation of the family. There is a need for continuity of family businesses because these companies' contribution to the GDP is about 22-30% percent. Family businesses should therefore be managed in a more professional, innovative, ethical, and humanized way, by strengthening the entrepreneurial leadership skills, personal integrity, personal innovation, and empathic behavior of the next generations.
Family businesses in Europe, Americas, and Asia face similar challenges. In this master class, we provide a holistic and authentic framework and specific tools to enable family businesses to effectively create a high performance culture in which sustainable eco-innovation, eco-governance, integrity, agility, inclusion, and empathy are embedded. Please this related article "Eco-Family Business; The Future of Family Businesses"
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For family business leaders, managers, and professionals.
By Hubert Rampersad
Based on this new book