Publications

July 9, 2013
Article

Why Fights Erupt in Family Businesses

By: Josh Baron and Rob Lachenauer

Lack of boundaries and formal structure create potential for nasty (and lasting) disagreements. View Details

Keywords: Family Business; Conflict and Resolution; Organizational Structure

Teaching Interest

Overview

By: Rob Markey

Managing Service Operations - MBA Elective Curriculum

World-class service organizations deeply understand the needs and behaviors of their customers, and design, manage, and improve their operating models accordingly. This course... View Details

Keywords: Customer Lifetime Value; Customer Centric Initiative; Customer Engagement; Service Management; Service Profit Chain; Service Design; Service Models; Service Excellence; Customer Focus and Relationships; Customer Satisfaction; Customer Value and Value Chain; Service Delivery; Service Operations

January–February 2020
Article

Are You Undervaluing Your Customers?: It’s Time to Start Measuring and Managing Their Worth

By: Rob Markey

Leaders recognize that they should manage their businesses to maximize the value of the customer base. But too often, earnings pressures result in cost-cutting measures that hurt customers.

Loyalty-leading companies operate differently. They create systems for... View Details

Keywords: Customer Experience; Customer Value; Customer Centric Initiative; Customer Focused Organization; Customer Lifetime Value; Customer Focus and Relationships; Customer Value and Value Chain; Operations; Business Strategy

March 18, 2014
Article

Family Businesses Must Set the Agenda (Without Micromanaging)

By: Josh Baron and Rob Lachenauer

This article discusses the role of owners in family businesses, using the story of Charles, who transformed his family's shipping business by taking ownership decisions. The article highlights that owners have the power to set goals, define performance metrics, hire... View Details

Keywords: Decisions; Family Ownership; Governing and Advisory Boards; Goals and Objectives

August 15, 2014
Article

Can an Outside CEO Run a Family-Owned Business?

By: Josh Baron and Rob Lachenauer

This article explores the intricate dynamics that often characterize family-owned businesses, shedding light on key archetypes that play prominent roles within these organizations. Using a narrative approach, the article illustrates the challenges faced by leaders... View Details

Keywords: Family Ownership; Personal Characteristics; Family and Family Relationships; Management Practices and Processes

December 3, 2014
Article

Family Businesses Need One Person to Conquer and Another One to Rule

By: Josh Baron and Rob Lachenauer

This article explores the different leadership styles needed in family businesses beyond the traditional "conqueror" archetype. While conquerors are growth-focused and hands-on, rulers are essential for managing complexity, focusing on governance, and addressing family... View Details

Keywords: Leadership Style; Family Business; Management Skills

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

July 19, 2021
Article

Do Most Family Businesses Really Fail by the Third Generation?

By: Josh Baron and Rob Lachenauer

Perhaps the most commonly-cited statistic about family businesses is their failure rates. Most articles or speeches about family businesses start with some version of the “three-generation rule,” which suggests that most don’t survive beyond three generations. But that... View Details

Keywords: Family Business; Success; Perception

February 2011 (Revised November 2012)
Case

Product Development at OPOWER

By: Thomas Eisenmann and Rob Go

OPOWER, a software startup that helps utilities engage their customers in ways that reduce energy consumption, is scaling rapidly. The company's new head of product management has designed a system to address a point of constant tension: whether to build custom... View Details

Keywords: Business Startups; Customer Relationship Management; Entrepreneurship; Growth Management; Product Development; Sales; Customization and Personalization; Energy Conservation; Environmental Sustainability; Information Technology Industry; Utilities Industry

Educators

Research Summary

Overview

By: Rob Markey

Most companies' leaders declare their commitment to delivering value to customers. Many have adopted language such as "customer-centric" or "customer-obsessed." Companies that consistently earn top marks for customer loyalty in their industry deliver total shareholder... View Details

Keywords: Customer Base Analysis; Customer Lifetime Value; Customer Experience; Customer Loyalty; Service Profit Chain; Management Accounting; Project Evaluation And Resource Allocation; Customer Value and Value Chain; Customer Satisfaction; Valuation; Customer Focus and Relationships

October 23, 2013
Article

Banyan Family Business Advisors On The Keys to Long-Term Resilience

By: Josh Baron and Rob Lachenauer

Family businesses have been found to excel in resilience during economic downturns compared to publicly-traded ones. This is attributed to their focus on resilience over performance. Key qualities of resilient family firms include managing low debt, practicing... View Details

Keywords: Performance Consistency; Economic Slowdown and Stagnation; Family Ownership; Family Business; Values and Beliefs; Business Strategy

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December 6, 2013
Article

Family Businesses Shouldn't Hunt for Superstar CEOs

By: Josh Baron and Rob Lachenauer

This article discusses the challenges faced by family businesses when it comes to succession planning, particularly in selecting an outside CEO. It presents a case study of a third-generation family business looking for an external CEO, named "Mr. Wonderful," to manage... View Details

Keywords: Family Business; Management Succession

May 2, 2014
Article

If You're Feeling Unappreciated, Give Someone Else Credit

By: Josh Baron and Rob Lachenauer

Conflict in a family business can escalate quickly, but it's crucial to avoid it whenever possible. The article emphasizes recognizing the signs of escalating conflict and taking steps to prevent it. When disagreements arise, people often resort to legal action, which... View Details

Keywords: Conflict and Resolution; Family Business

June 16, 2014
Article

Working With Your In-Laws Isn't Always a Terrible Idea

By: Josh Baron and Rob Lachenauer

This article delves into the complex dynamics involving in-laws within family-owned enterprises. In-laws often face a challenging dual role as they must conform to the same professional standards as non-family employees while concurrently grappling with perceptions of... View Details

Keywords: Family and Family Relationships; Family Ownership; Employees

January–February 2021
Article

Build a Family Business That Lasts

By: Josh Baron and Rob Lachenauer

Judging from how they’re portrayed in the media, it would be easy to dismiss family businesses as hotbeds of power-playing, backstabbing, and favor-currying, ultimately destined to fail; think of the Murdochs and News Corp, or the Redstones and National Amusements, to... View Details

Keywords: Family Business; Success; Ownership Type; Governing and Advisory Boards; Management Succession