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- All HBS Web
(6,001)
- People (28)
- News (2,159)
- Research (1,828)
- Events (13)
- Multimedia (74)
- Faculty Publications (1,068)
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- June 2023
- Exercise
Successful Governance for the Family Enterprise
This exercise examines three different family enterprise scenarios to open a conversation on what makes them successful. We look at how there is no strategy that fits all for family businesses, but there are strategies that can influence both the business and the... View Details
Wing, Christina R. "Successful Governance for the Family Enterprise." Harvard Business School Exercise 623-083, June 2023.
- May 18, 2020
- Article
Create a Culture of Generosity and Communication in Your Family Business
By: Christina R. Wing and Rohit K. Gera
The phrase “family business” is made up of two very different words: “family,” which calls to mind warm, fuzzy feelings around love, joy, and support, and “business,” which is measured in money, profits, impact, and assets. We put the two words together, and often, use... View Details
Wing, Christina R., and Rohit K. Gera. "Create a Culture of Generosity and Communication in Your Family Business." Harvard Business Review (website) (May 18, 2020).
- August 2006 (Revised July 2007)
- Background Note
Fundamentals of Family Business System Governance
By: John A. Davis
Reviews the purposes and ingredients in the governance (or steering) of a family business system. Explores at a high level the governance of the family business, its owners, and the family. Focuses on how these governance structures, processes, plans, and agreements... View Details
Keywords: Family Business; Corporate Governance; Governing Rules, Regulations, and Reforms; Family Ownership
Davis, John A. "Fundamentals of Family Business System Governance." Harvard Business School Background Note 807-019, August 2006. (Revised July 2007.)
- October 2019 (Revised July 2023)
- Module Note
Demystifying the Family Enterprise: Module 3—The Family Office
By: Christina R. Wing, Charles Richards and Vicki Morton
Wing, Christina R., Charles Richards, and Vicki Morton. "Demystifying the Family Enterprise: Module 3—The Family Office." Harvard Business School Module Note 620-048, October 2019. (Revised July 2023.)
- 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
Malhotra, Deepak, and John A. Davis. "Negotiating Effectively in Family Business Systems." Harvard Business School Module Note 807-144, March 2007. (Revised October 2007.)
- 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
Baron, Josh, and Rob Lachenauer. "Build a Family Business That Lasts." Harvard Business Review 99, no. 1 (January–February 2021): 112–121.
- February 2009 (Revised June 2010)
- Background Note
Note on Valuing Control and Liquidity in Family and Closely Held Firms
Most companies around the world are family controlled and/or closely held. The need to value these companies routinely arises in practice for a variety of reasons, e.g., to buy out minority shareholders; for gift and estate tax purposes; to tie executive compensation... View Details
Villalonga, Belen. "Note on Valuing Control and Liquidity in Family and Closely Held Firms." Harvard Business School Background Note 209-104, February 2009. (Revised June 2010.)
- March 2009 (Revised April 2011)
- Course Overview Note
Growing, Financing, and Managing Family and Closely Held Firms: Overview of the Course
By: Belen Villalonga
Most companies around the world are controlled by their founding families, including more than half of all public corporations in the U.S. and Europe and more than two thirds of those in Asia. These companies are the subject of the Financial Management of Family and... View Details
Keywords: Family Business; Financial Management; Corporate Governance; Governing and Advisory Boards; Family Ownership; Business and Stakeholder Relations; Valuation
Villalonga, Belen. "Growing, Financing, and Managing Family and Closely Held Firms: Overview of the Course". Harvard Business School Course Overview Note 209-137, March 2009. (Revised April 2011.)
- 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
Baron, Josh, and Rob Lachenauer. "Family Businesses Need One Person to Conquer and Another One to Rule." Harvard Business Review (website) (December 3, 2014).
- July 2005 (Revised February 2007)
- Exercise
Family Business System Action Planning Worksheet
By: John A. Davis
Assist in thinking critically about facilitators and inhibitors to goals and preparing for change in a family business system. View Details
Keywords: Family Business; Change Management; Goals and Objectives; Organizational Change and Adaptation
Davis, John A. "Family Business System Action Planning Worksheet." Harvard Business School Exercise 806-012, July 2005. (Revised February 2007.)
- June 2017
- Case
American Family Care
By: John Quelch and Leila Roumani
Quelch, John, and Leila Roumani. "American Family Care." Harvard Business School Case 517-122, June 2017.
- 23 Apr 2001
- Research & Ideas
The Gulf: It’s a Family Affair
professor and consultant. In these twenty-two-plus years in the field, in addition to the research and writing I have done, I have worked with families in business from over... View Details
Keywords: by Wendy Guild & Andrea Schulman
- 15 Feb 2007
- Research & Ideas
Helping Low-Income Families Save More
Podcast with: Peter TufanoInterviewer: James AisnerRunning Time: 18 min., 55 sec. View Details
- February 1997 (Revised November 1997)
- Case
An Entrepreneurial Family
Mark Vigianno is a driven entrepreneur who can't seem to work with subcontractors, many colleagues, and bosses. His wife Katrina gets caught up in Mark's ventures but seems unable to help him. Although ambitious, hard driving, and quality conscious, Mark keeps... View Details
Keywords: Entrepreneurship
Barnes, Louis B., and Kacie LaChapelle. "An Entrepreneurial Family." Harvard Business School Case 897-157, February 1997. (Revised November 1997.)
- 31 Jul 2017
- HBS Case
It’s Hard to Fix the Family Business Without Offending the Family
finds equally beneficial lessons in a much different setting: a small family-owned Vietnamese restaurant in Boston’s inner-city neighborhood of Dorchester. Challenges lie in navigating complex family relationships, transitioning from... View Details
- 30 Mar 2015
- Research & Ideas
Managing the Family Business: Preparing to Sell
On important occasions, we gather for family portraits. If you were to take a picture of your family business today, what would it show? Family businesses represent the... View Details
- 12 Mar 2014
- Lessons from the Classroom
Managing the Family Business: Firing the CEO
Editor's note: This is part of a series of occasional columns on managing the family business written by Senior Lecturer John A. Davis. In this article, Davis discusses when to make changes at the top. No one needs convincing that the... View Details
- August 2006 (Revised July 2007)
- Background Note
Governance of the Family Business Owners
By: John A. Davis
Reviews the principal ways in which the owners of a family business achieve their governance objectives of a suitable identity and sensible direction and the discipline to achieve these. Covers the responsibilities and rights of owners, plus governance procedures,... View Details
Keywords: Family Business; Corporate Governance; Governing Rules, Regulations, and Reforms; Goals and Objectives; Family Ownership
Davis, John A. "Governance of the Family Business Owners." Harvard Business School Background Note 807-021, August 2006. (Revised July 2007.)
- 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
Baron, Josh, and Rob Lachenauer. "Family Businesses Shouldn't Hunt for Superstar CEOs." Harvard Business Review (website) (December 6, 2013).
- September 8, 2015
- Article
Making Better Decisions in Your Family Business
By: Josh Baron, Rob Lachenauer and Sebastian Ehrensberger
Family businesses face complex decisions, from CEO succession to business strategies. A "four-room" model helps structure decision-making in these businesses: Owner Room (ownership goals and board election), Board Room (performance monitoring and CEO appointment),... View Details
Keywords: Family Business; Decisions; Business Strategy; Goals and Objectives; Management Succession; Talent and Talent Management
Baron, Josh, Rob Lachenauer, and Sebastian Ehrensberger. "Making Better Decisions in Your Family Business." Harvard Business Review (website) (September 8, 2015).