12:00 – 13:00 CET : Family Business Conference: Enabling next generation legacies (organised by FBN)

October 19, 2021

Introduction

One of the key challenges that a family business faces is to build an enterprising family and a thriving family business across generations. This session organised by the Family Business Network (FBN) addressed the key questions faced by the next generation of family business owners. Furthermore, this session discussed the book, titled “Enabling Next Generation Legacies”, by Peter Jaskiewicz and Sabine B. Rau which drew on 90 leading academics, practitioners and enterprising families to provide best practices, real‐life experiences, and testimonies to address the most pressing questions faced by next gens in enterprising families.

Session Highlights

The session discussed some of the key pressing issues plaguing the next generation of the family enterprises. The panellists agreed that to build a sustainable future, it is imperative that discussion amongst the family members share their aspirations, experiences, and best practices with the next generation. It is essential that families sit together and develop a sustainable development programme to meet the aspirations and expectations of various generations in the family business.

The panellists also listed out suggestions to enable the next generation family members to become responsible business owners. These suggestions include the sustainable cycle of creating happiness by finding the meaning and purpose to life, then finding a passion, and finally enhancing your happiness. Other suggestions include making the business more exciting, analysing the impact of actions on business, and developing plans to aid the family members.  

Discussion also examined the right age for knowing and entering the family business. The panellist resonated that there’s no right age. It is essential for the old generation to answer the questions from the next generation about family business, while keeping the new generation as interested and excited about the business as they can. Furthermore, experiences should be shared amongst the next generation for them to realise the importance and the essence of the business.

The Panellist were

  • Alexis du Roy de Blicquy, CEO, Family Business Network (FBN)
  • Wilhelm Aminoff, Next Gen Member, Aminoff family in Finland
  • Patricia Saputo, Senior Gen Member, Saputo family in Canada.

Moderators

  • Sabine B. Rau, Visiting Professor, Telfer School of Management & ESMT
  • Peter Jaskiewicz, Professor, Telfer of Management