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Wendel International Centre for Family Enterprise

 

The Wendel International Centre for Family Enterprise enables INSEAD to run events and educational programmes that benefit family firms across the globe. The Centre has also adopted a wider advocacy role by raising awareness and understanding of the importance of family enterprise as a business model: not only are family firms in their many forms the most prevalent type of companies worldwide - they are also proven to be among the most successful in the long-term.

 

New Programme in French at INSEAD

 

 

Entreprise Familiale, Forces et Défis

 

Le Centre Wendel pour l’Entreprise Familiale a inauguré en avril 2018  un cours de trois jours dédié aux membres d’entreprises familiales. L’objectif de cette formation est de mettre en exergue la singularité de ces entreprises aux enjeux pluriels.

 

Le programme se déroule en français propose outils et plans d’action dans un cadre confidentiel et propice aux échanges. 

 

Le cours est participatif, il allie études de cas, présentations, échanges entre familles et travail en groupe et permet à chaque famille d’élaborer son propre plan d’action  et de bénéficier, en option, d’une session de coaching privé. 

 

A la direction de ce programme francophone, les Professeurs Ludo Van der Heyden et Christine Blondel vous aident à comprendre les défis de votre entreprise familiale, mais aussi et surtout à identifier ses forces et apprendre à les gérer efficacement afin de d’assurer la pérennité de l’entreprise et de la famille.

 

Contactez l'équipe du centre pour plus d'information sur la prochaine édition: family-firms.fb@insead.edu ou 01 60 72 92 50

 

 

Watch Out For...

March 2018 Family Business Newsletter
19 May 2018

Family Enterprise Day: Next Generation: Professionalizing Management, Ownership and Governance

Asia campus - Singapore

Registrations are closed

5 - 7 June 2018

Family Business Entrepreneurship Masterclass with Live Case Simulation

London

9 June 2018

Family Enterprise Day: Next Generation: Professionalizing Management, Ownership and Governance

Europe campus - Fontainebleau

Registrations open

 

15 September 2018

Family Enterprise Day - Save the date

Europe campus - Fontainebleau

                                                                                   More Family Business Events

 

Latest News about CBS/INSEAD research partnership

Plan the future of your business today at www.ejerstrategi-kortet.dk

The Ownership Strategy map is a new free online tool that owner-managers can use to benchmark their business and plan its future ownership and leadership. The Danish Industry Foundation, Centre for Owner-managed Businesses at CBS and INSEAD in France are behind the tool.

 

The Death of the CEO Cost the EarthDirektørens død koster kassen (article only available in Danish) - DI Business, March 2017

In the article from Danish Industry Business Morten Bennedsen researcher of COMB states that most companies have plans for what to do if an employee falls ill, but there is a lack of focus on the wellbeing of the top management. The death of the CEO is not only a tragic event - research shows that it can also be expensive for investors and businesses. The results underlines how important it is to be aware of how a business can continue, if the CEO becomes ill or dies, as such situation may result in a large loss of value for the company.

                                   More Information about CBS/INSEAD Research partnership

 

 

Read about...

 

 

The art of professionalising a family-run company

Morten Bennedsen and Brian Henry, South China Morning Post – 5 May 2018

 

Samsung and the 2018 Winter Olympics

Morten Bennedsen and Brian Henry, The Ethical Board Romm – Spring 2018

 

Hongkongský magnát míří do penze. Končí významná éra byznysu velkých rodin
Jaroslav Krejčí, Hospodarsjé Noviny - 23 April 2018

Lời nguyền 'không ai giàu ba họ' ám ảnh các gia đình giàu nhất Hong Kong
Vietnambiz - 19 April 2018

After Li Ka-shing, Hong Kong's property tycoons inherit tough market

Nikkei Asian Review – 18 April 2018
When it's time for succession..."If they do exactly what their fathers did they won't be successful, because the world has already changed."

 

Family Business Longevity In Three Steps

Family Business United - 11 April 2018

Morten Bennedsen, the André and Rosalie Hoffmann Chaired Professor of Family Enterprise at INSEAD and Academic Director of the Wendel International Centre for Family Enterprise, and INSEAD Research Fellow, Brian Henry, highlight the lessons from the UK’s oldest privately owned bank, which has been in the same family for more than 300 years

 

Selling the family business in S-E Asia - pitfalls and a roadmap

Claudia Zeisberger, Britta Pfister, Business Times - 9 March 2018

Business families should consider segregating private assets early, think through after-sale scenarios, and how to create a joint platform. Claudia Zeisberger, Senior Affiliate Professor of Decision Sciences and Entrepreneurship & Family Enterprise at INSEAD and the Founder and Academic Director of the school’s private equity centre (GPEI), and Britta Pfister, Distinguished Fellow at GPEI shares.

 

MBA - Much less popular at family businesses

Family Capital - 7 March 2017

Despite the boom in MBAs with a family business emphasis over the last 10 years, CEOs at family companies are much less likely to have the prestigious business degree, compared with their colleagues at non-family businesses.

 

Why Family Firms Lack Analyst Coverage

Xiawei Rose Luo, INSEAD Knowledge - 21 February 2018

Unsurprisingly, studies on how securities analysts decide which companies to follow have shown that they are chiefly concerned about the risks of making assessment errors and disappointing investors. They may thus avoid firms they deem risky due to the difficulty of acquiring data or the perceived potential for a conflict of interest between majority and minority shareholders...

 

维拉德(Viellard)家族的贡献: 坚持主业的经营策略 - Embedding Family Assets into Family Business and Strategy - in chinese

Morten Bennedsen, Brian Henry, China Family Business Review - February 2018

Morten Bennedsen, and Brian Henry discusses the case of Viellard Migeon & Cie, a medium-size metallurgy firm owned and controlled by the same family for the more than 220 years. Its approach of staying true to a long-term business strategy provides a good example to how family business founders can attract younger family members to take up leadership roles in their firms. 

 

Planning for Family Business Longevity in Three Steps

Morten Bennedsen, Brian Henry, INSEAD Knowledge - 16 February 2018

Learn from UK’s oldest privately owned bank : "As the bank has provided services to many of its customers’ families for centuries, the family has never felt the need to advertise for more clients..."

 

豪尔银行:做擅长的事 - in Chinese

Morten Bennedsen, Brian Henry, China Family Business Review - January 2018
Morten Bennedsen and Brian Henry examine how family firms such as C. Hoare & Co, the oldest private bank in the UK, can embed their assets into their long-term strategy. 

 

INSEAD, TSW tie up for workshop on family business 

The Economic Times – 11 January 2018

MUMBAI: Leading business school INSEAD and TSW, the executive education wing of Times Professional Learning (TPL), have entered into an academic partnership for INSEAD's first edition of Leading Indian Family Enterprises (LIFE), a three-day experiential business learning workshop to be conducted at INSEAD's Asia campus in Singapore in March. 

 

372年历史的日本山佐的持续创新之路 Continuous Innovation at Yamasa, a 372-year-old family-owned business

Morten Bennedsen, Brian Henry, China Family Business Review - December 2017
Morten Bennedsen, The André and Rosalie Hoffmann Chaired Professor of Family Enterprise at INSEAD, and Brian Henry, Research Fellow at INSEAD, discuss how Yamasa's (the second largest soy sauce manufacturer in the world) family leaders have continuously inculcated their esprit of innovation, their reputation around quality and their strong family values into a long-term business strategy. 

 

Ces entreprises ont plus de 200 ans, quel est leur secret?

capital.fr - 28 december 2017

Brian Henry, an INSEAD research fellow, explains that, “In order to remain independent, family-run luxury companies should follow the example of Hermès. Founded in 1837, Hermès fended off a hostile takeover attempt by LVMH in 2011, via a carefully designed trust that made it impossible for family members to sell shares to outsiders. Today the same family, which started out making leather harnesses in Paris nearly 200 years ago, continues to maintain ownership and control of Hermès.” 

 

Business schools ‘teach what you can’t learn from your parents’

Della Bradshaw, Financial Times - 13 December 2017
At INSEAD, 100 of the 1,000 MBA students a year are from family businesses. Morten Bennedsen, INSEAD Professor of Economics and Political Science, The André and Rosalie Hoffmann Chaired Professor of Family Enterprise, comments that “Business schools can teach you things you can’t learn from your parents. They can teach you how to run a professional firm.”

 

華人家族企業論壇17日登場

China Times - 11 November 2017

This chinese article introduce the annual family business event - "Sixth Chinese Family Business Forum of the Year" who took place on November 17th in Taipei. The event included academic and practical forums, where family business scholars from Europe, the Americas and Asia gathered together to become the leaders of global family-owned enterprises and shared the secret of the corporate governance in East and West.

 

Can Asean compete with China and India for private capital?
Ian Potter, Claudia Zeisberger, South China Morning Post - 3 November 2017
Claudia Zeisberger, INSEAD Senior Affiliate Professor of Decision Sciences and Entrepreneurship and Family Enterprise & Academic Director of INSEAD's Global Private Equity Initiative (GPEI), and Ian Potter, Distinguished Fellow at INSEAD’s GPEI, highlight that ASEAN's ability to attract private capital is dependent on continued wealth generation and improvement in speed and use of the internet plus return of overseas talent who have the mindset to nurture an attractive young market. 

 

국내외 석학들이 전하는 가족경영 지속성장 해법  (Sustainable growth in family management) 
Naver - 30 October 2017
INSEAD and the Korea Management Association (KMA) have launched the 1st INSEAD- KMA Family Business School programme. INSEAD Dean and Professor of Economics Ilian Mihov says that the programme helps owners, next-gen leaders, professional managers in their leadership of Korea family businesses for performance maximisation and sustainable growth. 

 

華人家族企業論壇11/17台北登場 - Chinese family business forum 11/17 Taipei

money.udn.com, 20 October 2017

 

Professionalisation of Family Firms: Key Elements

Morten Bennedsen, Brian Henry - Salamander Magazine - 25 October 2017

According to a recent research report, more than half of the next-generation in Chinese family-run businesses will not want to join their parents’ enterprises. This highlights one of the major challenges facing family businesses in China today: how to run their business when family participation rates fall below acceptable levels.


Samsung’s Lee family succession crisis shows the importance of long-term planning

Morten Bennedsen, Brian Henry, South China Morning Post - 6 October 2017

Family-run businesses throughout Asia have a lot to learn from the tumultuous events surrounding the recent conviction of Lee Jae-yong

 

MBA: School For Scions

Zia Hap, Outlook India.com - 2 October 2017

Research favours the specialised MBA for family businesses

 

过度忠诚会抑制创新 (Loyalty Taken Too Far Can Inhibit Innovation)
Morten Bennedsen, Brian Henry – China Family Business Review – September 2017
According to Morten Bennedsen, The André and Rosalie Hoffmann Chaired Professor of Family Enterprise at INSEAD, and Brian Henry, Research Fellow at INSEAD, when it comes to business models, loyalty for the sake of loyalty can become a liability and roadblock to success, since loyalty taken too far can inhibit founders of family firms from adopting innovative business models until it is too late.

 

KPMG Is Gearing up for the Third Middle East and South Asia Family Business Conference

Albawaba.com - 24 September 2017

Next 3 and 4 October 2017 in Dubai will take place the MESA. Workshops and panel discussions will cover the following areas: leadership in family businesses, succession and next generation, women and the family business, wealth preservation, governance and philanthropy. Some panels will be moderated by Christine Blondel, Adjunct Professor of Family Enterprise at INSEAD.

 

La Bonne Gouvernance Est Essentielle à La Pérennité Des Entreprises Familiales

Trends - 13 September 2017

On the occasion of the Forum Family Business Governance that BNP Paribas Fortis will organize on 25 October 2017 in Brussels with INSEAD, Professor Bennedsen recalls the fundamental role of governance in family businesses.

 

"Deugdelijk bestuur is essentieel in langlevende familiale ondernemingen"

Trends - 13 September 2017
On the occasion of the Forum Family Business Governance that BNP Paribas Fortis will organize on 25 October 2017 in Brussels with INSEAD, Professor Bennedsen recalls the fundamental role of governance in family businesses.

 

When Succession Skips a Generation

Morten Bennedsen, INSEAD Konowledge - 11 September 2017

Next-generational succession is one of the main challenges facing family businesses globally today. Owner-managers who are confronted with this issue often have to turn to professionalising the family firm by bringing in outsiders.

 

Building Family Office for the Future

Claudia Zeisberger, Asian Investor - August/September 2017 

Claudia Zeisberger, INSEAD Senior Affiliate Professor of Decision Sciences and Entrepreneurship & Family Enterprise, who is sceptical about the mission of MFOs, argues family offices which take on too many families might struggle to do justice to their individual and often very “personal” mandates. 

 

How To Lead Your Family Business Out Of The Crisis

Randel Carlock - Campden FB - 27 August 2017
Randel Carlock, The Berghmans Lhoist Chaired Professor of Entrepreneurial Leadership at INSEAD, elaborates on how family-owned companies have an inherent competitive advantage that can be leveraged to ensure they survive and prosper despite the poor business and financial climate.

 

الابتكار في الشركات العائلية

Innovation in Family Business

Massimo Massa - Al Eqtisadiah - 25 August 2017

INSEAD Professor of Finance Massimo Massa shares that family companies may have a conservative heritage, but new research suggests they can teach us a lot about innovation.

 

A new CEO is emerging - as Lego’s latest big hire shows

David Bain, Family Capital - 14 August 2017

Want to be a CEO? Then it might be a good idea to gain some experience at a family-controlled business. That’s what Niels Christiansen did and he’s just been appointed as the new CEO of Lego, one of the world’s most famous companies

 

Beat the World’s Biggest Drugmakers

Naomi Kresge, Karin Matussek, Bloomberg Businessweek - 17 July 2017

When Boehringer Ingelheim had the chance to snatch a prize biotech company from under a rival’s nose a few years back, it decided to pass. That 2011 decision didn’t sit well with some members of the family that controls the 132-year-old German drugmaker...

 

家族企业如何吸引投资者 - How family businesses can attract investors - In Chinese

China Family Business Review - 18 June 2017
Morten Bennedsen, INSEAD André and Rosalie Hoffmann Chaired Professor of Family Enterprise and Brian Henry, INSEAD Research Fellow, discuss how family business can attract external investments as well as finding a balance between financing and retaining management control. 

 

Family Firm Institute Announces 2017 Achievement Awards in the Field of Family Enterprise

PrWeb - June 2017

Interdisciplinary Award to Christine Blondel, consultant and adjunct professor of family business at INSEAD.

 

Le capitalisme familial est-il le modèle idéal ? - in French
Fabien Piliu, La Tribune – 23 June 2017

INSEAD Research Fellow Brian Henry answered journalists’ questions about family-run firms at the award ceremony of the Leonardo da Vinci Prize in Vienna. The annual prize rewards a family enterprise for its capacity to transmit to future generations the values and abilities that constitute an intangible and sustainable heritage, and went this year to the Austrian family-owned company Swarovski founded in 1895. Asked to comment on the “secrets” of the Hénokiens, an association of 47 bicentenary family enterprises which co-sponsors the prize, Henry highlighted their growth strategies and approaches to risk-taking.

 

Familiebedrijf moet jonge generatie omarmen

De Tijd -30 May 2017
Morten Bennedsen, INSEAD Professor of Economics and Political Science and Academic Director of the Wendel International Centre for Family Enterprise, has been granted an Honorary Professorship by the Hasselt University in Belgium for his research on family firms. Initiated in Denmark, his research is now being developed internationally, inspiring family firms on their approach to long term planning. Watch the related Interview

 

Drie nieuwe eredoctoraten voor UHasselt

Het belang van Himbourg - 30 May 201

Stijn Bijnens, Mariana Mazzucato and Morten Bennedsen joined the selection of UHasselt honorary doctors within the theme of "changemakers in innovation”

 

Kersverse eredoctor UHasselt heeft wel erg opmerkelijke fascinatie

Hbvl - 24 May 2017

 

Protecting the Business from Generational Friction

Family Business United - 21 May 2017

A good insight into some of the challenges facing family firms and the family dynamics that promote smooth transfer to the next generation.

 

Protecting the Business from Generational Friction

Morten Bennedsen, Brian Henry, INSEAD Knowledge - 19 May 2017

Read about the family dynamics that promote smooth transfer to the next generation in Chinese families.

 

Slagsmål om arveafgift: Ny lov hjælper færre virksomheder end oplyst - In Danish

Nyheder - 17 May 2017

Battle of inheritance tax: the new succesion law is very criticized

 

A Recipe For Employee Motivation
Morten Bennedsen – Management Issues – 16 May 2017
Employee absenteeism is a problem for companies everywhere. When employees are away from the office, for good reasons or not, the cost has been measured at somewhere around 4 percent of the world’s GDP. Absences lead to delayed work, colleagues take on more and projects are hampered, thus reducing productivity for the firm as a whole. Morten Bennedsen, the André and Rosalie Hoffmann Chaired Professor of Family Enterprise at INSEAD and Academic Director of the Wendel International Centre for Family Enterprise, comments.

 

Five Challenges That Could Derail Succession

Family Business United - 14 May 2017

Do you know the obstacles Peugeot, Kikkoman, Tata Group and other iconic global family firms learned to overcome?

 

Family Leadership: Inside The Bertazzoni Kitchen

Shellie Karabell, Forbes – 4 may 2017

By the Bertazzoni, sixth generation, each family member is obliged to take his or her first job outside the family realm — both to gain experience and to pollinate the business with new, fresh ideas…

 

Five Challenges That Could Derail a Succession Plan

By Morten Bennedsen and Brian Henry - INSEAD Knowledge - 2 May 2017

Chinese family firms are a force for change in China, bringing a renewed interest in family entrepreneurship to the forefront. Notwithstanding the rapid changes taking place at the very core of Chinese family businesses, founders share five common challenges when it comes to succession. Morten Bennedsen, INSEAD Professor of Economics and Political Science and Brian Henry, INSEAD Research Fellow, reflect on these fundamental topics.


Forsker undsiger regeringens lempelse af arveafgift - In Danish

JydskeVestkysten - 20 April 2017

 

Four Simple Rules for Succession Planning

Morten Bennedsen, INSEAD Knowledge - 17 April 2017

How to keep the business – and the family – running smoothly into the next generation and beyond.

 

领导一个家族企业不仅需要专业素质,也需要情感素质。这是家族企业领导人的关键角色 - In Chinese

Randel Carlock, MBA China - 7 April 2017

In this article, Professor Carlock speaks about the importance of the Chief Emotional Officer in a family business

 

A Recipe for Employee Motivation

Morten Bennedsen, INSEAD Knowledge - 31 March 2017

According to Professor Bennedsen, absenteeism is less prevalent in family firms than in non-family firms.

 

Fem spørgsmål du bør stille dig selv som ejerleder

Media Planet - March 2017

Succession Planning and Family Culture in Chinese Firms: Four Simple Rules

China Family Business Review - March 2017
Morten Bennedsen Brian Henry discuss family business challenges in China.

 

가족기업은 위기극복 어렵다고? `네 가지` 지킨 도요타는 달랐다
Four Succession Challenges Facing Heirs - In Korean only

Maeil Business Newspaper - 24 March 2017
Morten Bennedsen and Brian Henry highlight the four key succession challenges for family business: 1) Planning in Due Time, 2) Understanding Succession Culture, 3) Identifying and Transferring Family Assets and 4) Preparing the Next Generation.

 

Direktørens død koster Kassen - In Danish

Af Peter G. H. Madsen, Dansk Industri - March 2017

 

Innovate To Survive

Queena N. Lee-Chua, Inquirer.net - 17 February 2017

Morten Bennedsen, INSEAD Professor of Economics and Political Science, and Brian Henry, INSEAD Research Fellow, discuss family business and innovation in their article “Fostering the Innovation Spirit” which was published in the South China Morning Post. They assert that innovation is actually integral to the family business, and “guarantees its survival".

 

Press release : L’INSEAD conserve sa 1 ère place au classement mondial des MBA du Financial Times

WendelGoup.com - 8 February 2017

In this french press release, Wendel congratulates INSEAD for its ranking in the Financial Times.

 

Saving a Family Business from Emotional Dysfunction

Manfred F. R. Kets de Vries, Harvard Business Review - 1st February 2017

The family members working in business would be wise to ask themselves: If today were the last day of their lives, would they still be working in the family enterprise?

 

Rising to the Challenge of Succession Planning in Family Firms

Morten Bennedsen, Indian Management magazine - January 2017

Finding a family successor is one of the greatest challenges for family firms but when done correctly, it will deliver value for the company over and above any other strategy...

                                                                                                

                                                                                                   More from the press

 

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