Last week, we attended the Family Firm Institute’s 2011 Annual Conference in Boston, the family enterprise field’s annual premier conference. This international conference brought together over 400 of the fields top advisors, educators and consultants for what was a thought-provoking and inspiring three days.
The conference focused on the next generation of family members and the roles they play within the family enterprise. Sessions focused on everything from understanding the challenges that face the next generation to preparing the next generation to oversee the family enterprise.
Here are some of my key takeaways from the conference:
- Today’s younger generation is faced with new challenges which represent new opportunities.
- The differing generations of today need to work on understanding each other’s perspectives and develop an appreciation for what makes them different and valuable.
- Transition of the family business today is more of an integration of the generations, as each is working in the business longer. It is not just the passing of the baton.
Share your thoughts on the conference or some of the points above in the comments section.
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- Surving and Thriving Through Generations: Family Business Webcast
- 3 Family Business Lessons from Ralph Lauren
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