Publications

November 2023 (Revised January 2024)
Case

Votorantim: Uniting Family and Business Across Generations

By: Christina R. Wing, Carla Larangeira and Pedro Levindo

Over a 105-year span, the Ermírio de Moraes family built Votorantim, one of Latin America’s largest industrial conglomerates, and among Brazil’s topmost businesses, also credited for helping “build” the country over decades. By early 2023, Votorantim included... View Details

Keywords: Corporate Governance; Family Ownership; Business and Shareholder Relations; Family and Family Relationships; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry; Latin America

September 2023
Technical Note

Note on Family Constitutions

By: Christina R. Wing

Less than half of family businesses will survive generational transfer. While sometimes this is due to operating company issues, in many cases it is because of conflict within the family. Many families create and adopt a family constitution to proactively mitigate... View Details

Keywords: Family Business; Policy; Organizational Structure; Family Ownership; Conflict Management; Agreements and Arrangements

Teaching Interest

Demystifying the Family Enterprise

By: Christina R. Wing

This course is primarily designed for students who are pursuing a career in family run businesses, family owned businesses, investment roles in family offices, or students that might invest in or wholly purchase a family owned business through a private equity firm,... View Details

Article

Family Rituals Improve the Holidays

By: Ovul Sezer, Michael I. Norton, Francesca Gino and Kathleen Vohs

Rituals are central to family life. Three studies (N = 1098) tested the relationship between family rituals and holiday enjoyment and demonstrated that family rituals improve the holidays because they amplify family closeness and involvement in the experience. In Study... View Details

Keywords: Happiness; Behavior; Satisfaction; Family and Family Relationships

July 1999 (Revised July 2007)
Background Note

Preparing Family Business Cases

By: John A. Davis

Advises students on how to prepare and discuss a family business case. View Details

Keywords: Family Business; Business Education; Cases; Family Ownership; Research

January 15, 2015
Article

Surviving in a Family Business When You're Not Part of the Family

By: Josh Baron and Rob Lachenauer

Navigating office politics in a family-owned business can be challenging for non-family executives. Based on experience with various business families worldwide, this article offers strategies for success:

Play in your room: Non-family executives should... View Details

Keywords: Family Business; Family and Family Relationships; Employees; Problems and Challenges; Talent and Talent Management

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Research Summary

Family Business Dynastic Success

Davis is also completing a several year study of successful family business dynasties, examining the management, ownership and family practices that help to perpetuate successful businesses and families. He is developing a book for Harvard University Press on this... View Details

July 2001 (Revised September 2001)
Background Note

Definitions and Typologies of the Family Business

By: John A. Davis

Introduces students to the wide variety of family business definitions in literature today. Also reviews prominent typologies of family business systems. View Details

Keywords: Family Business; Body of Literature; System

March 2007 (Revised October 2007)
Module Note

Negotiating Effectively in Family Business Systems

By: Deepak Malhotra and John A. Davis

Explores how families in business can apply five principles of negotiation that are used effectively by non-family members. The distinctive characteristics of family relationships and of family business systems--which affect the use of these principles--are described. View Details

Keywords: Family Business; Negotiation; Family Ownership

October 1993
Article

Family Capitalism

By: G. Jones and Mary B. Rose

Keywords: Economic Systems; Family and Family Relationships

Find at Harvard

01 Mar 2023
News

Family Matters

driven by their desire to pay it forward for others. In addition to being the beneficiary of the Forward Fellowship, Thompson-Woode received the Barbara and Edmund A. Hajim (MBA 1964) Fellowship for students who are first in their View Details

Keywords: April White

12 Nov 2001
Research & Ideas

The Three Components of Family Governance

strengthening business-family communication and bond. A family constitution—the family's policies and guiding vision and values that regulate... View Details

August 2006 (Revised July 2007)
Background Note

Governance of the Business Family

By: John A. Davis

Explains the purposes, processes, standards, plans, and agreements that together help to govern (or steer) a family that owns a family business. View Details

Keywords: Family Business; Corporate Governance; Governing Rules, Regulations, and Reforms; Family Ownership

07 Apr 2014
News

Family Values

married for 40 years, and two of their sons graduated from HBS (William C., MBA 2002, and Terence, MBA 2013). The Margot and William F. Connell View Details

Program

Families in Business

Summary Family enterprises must strive for growth amidst fierce competition, an evolving marketplace, and demanding customers. But family enterprises also face a unique set of... View Details

August 2006 (Revised July 2007)
Background Note

Governance of the Family Business

By: John A. Davis

Reviews the ways to achieve governance of the family business. Points out the importance of plans (e.g., strategic plans), statements (e.g., mission statements), policies, rules, and agreements to the governance process. Discusses the roles of three structures in... View Details

Keywords: Family Business; Corporate Governance; Governing and Advisory Boards; Management Teams; Mission and Purpose

18 Apr 2016
Blog Post

Meet the HBS Family Business Club

The mission of the Family Business Club (FBC) is to bring together students with family business backgrounds to facilitate discussions and conversations about their experiences... View Details

March 12, 2024
Editorial

Best Practices for Family Philanthropy

By: Christina R. Wing

Philanthropy is a key priority for many families, but when sitting down and considering where to start, the vast options can be overwhelming. Social impact is not supposed to be a chore, but rather something you and your family can appreciate and look forward to... View Details

Keywords: Philanthropy and Charitable Giving; Social Enterprise; Family Business; Corporate Social Responsibility and Impact

October 2023
Technical Note

Governance for the Family Enterprise

By: Christina R. Wing and Vicki Morton

Governance stands as the backbone of any successful organization, providing the structure, transparency, and accountability necessary to guide decisions, ensure efficiency and foster sustainable growth. Its significance takes on a heightened dimension within family... View Details

Keywords: Family Business; Corporate Governance; Family Ownership; Business Growth and Maturation