Research Magazine 2016

EY-KSU Global Family Business Survey

Joseph H. Astrachan and Torsten M. Pieper

In the first-ever global survey of its kind, we studied one thousand of the largest and most successful family businesses from more than 20 countries around the world and uncovered the sources of their lasting success. We found that these companies optimize both family cohesion and profitable business growth. When too much emphasis is placed on one over the other, both are likely to suffer. More specifically, we identified key strategies that contribute to striking this delicate balance. The most successful family businesses actively nurture harmonious family relationships; they consciously brand themselves as family businesses; they invest in sustainable business practices; they focus on the future, preparing the next generation to enter the business; they use governance mechanisms to keep the family involved in the business; and they value and actively empower women leaders. Overview

16 | Business Engagement

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