In most countries family businesses make up between 50 - 95% of business entities. Families control 30% of the Fortune 500 companies. These owners and their businesses are often an important part of the social fabric in local communities, and increasingly the international economy. Despite this, Family Capitalism, or ownership, has been seen as synonymous with stagnation, conflict and crises. The authors focus on how family owners avoids these pitfalls, and how emotional resources develop strategizing capacities.
The book explores how successful family businesses innovate and create Visionary Ownership, and implement it. Two crucial leadership capacities are introduced; Leadership of Paradox and Distributed Leadership.
A renewed understanding of family businesses show how the family can generate unique strategic advantages in stewardship, succession, long-term thinking, risk management and building social capital. It shows a different perspective regarding value creation in the economy. The book provides new insights for family owners, advisors, leaders as well as scholars.
The findings are from a best-practice research project with cases from China, USA, Germany, Colombia, Israel, Tanzania, France and Sweden. Applying strategy-as-practice theory shows how family owners, across different cultures and sectors, use generic ownership strategies and experiment, such as with cluster ownership and creating new ventures in succession.
As a book, Family Capitalism is a practical tool that families can use. They can ask the questions posed by the authors and apply them to their own situation. It is also backed by rigorous study, and is likely to be equally valuable to the student and researcher.
Denise Kenyon-Rouvinez, Director of the IMD Global Family Business Center, Switzerland
Part 1: Visionary Owenership Chapter 2. Overview Chapter 3. Ladder Entrepreneurship: A social mobility case in USA James and Victoria Grady Chapter 4. Building Social Capital: An emigration case from UK to Tanzania Gry Osnes Chapter 5. Strategizing Successions: Sibling loyalty in a French Case Gry Osnes Chapter 6.Cluster Ownership: A multi-generation case from China Olive Yanli Hou Chapter 7. Technological Innovation: Family commitment in a case from Sweden Liv Hoek Chapter 8. Stewardship and Integrity: A Lutheran Arab Family in Jerusalem Gry Osnes Chapter 9. Renewal of a Dynasty: A Colombian owner own account Angelica Uribe Part 2: Leadership Strategies Chapter 10. Overview: Leadership of Paradox and Distributed Leadership Chapter 11. Autonomy and Role Liv Hoek Chapter 12. "Letting Go" and "Moving On" James and Victoria Grady Chapter 13. Selling the Business: A UK owner Gry Osnes and Victoria Grady Chapter 14.Having Power or Strategizing Authority Gry Osnes Chapter 15. Gender and Leadership Mona Haug Chapter 16. Strategic Avenues for Succession Gry Osnes Chpater 17. Developing Healthy Ownership: A Non-family Chairman in Norway Gry Osnes Chapter 18. Summary: Family Capitalism Drive