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CLEVER Innovation in Family Business

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These are the slides for my session on Innovation in Family Business at Edaralab in Dubai (UAE).

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CLEVER Innovation in Family Business

  1. 1. CLEVER Innovation in Family Business A l e s s a n d r o L a n t e r i
  2. 2. Alessandro Lanteri speaker Professor of Entrepreneurship @ A L E S S A N D R O L A N T E R I https://goo.gl/LDTv9L Professor of Entrepreneurship Regular Contributor to HBR-A Trainer, Advisor to Multinationals, International Organizations, Governments, Startups Keynote & TEDx Speaker https://goo.gl/fAeTck
  3. 3. Faculty and adjunct locations Hult campuses Global expertise
  4. 4. no. 10 EXECUTIVE EDUCATION CUSTOM PROGRAMS Financial Times A S H R I D G E , U K http://rankings.ft.com/businessschoolrankings/ashridge/european-business-school-rankings-2018#european-business-school-rankings-2018
  5. 5. fuel efficiency +45% 1980 2019
  6. 6. storage capacity x1.5 million 1980 2019
  7. 7. no industry ‘left behind’ agriculture retail
  8. 8. Volatility Uncertainty Complexity Ambiguity
  9. 9. “Many create a Family, some create a Business, but very few can create a Family Business.”
  10. 10. source: A. Schuman, S. Stutz & J. Ward (2010). Family Business as Paradox. Palgrave Macmillan BusinessFamily CapitalisticSocialistic Conditional AcceptanceUnconditional Acceptance CompetitiveCooperative Emotion / Affect Rationality Risk-Averse Balanced Risk-Taker Saving-Oriented Growth-Oriented Tradition & Legacy Change Private Open Long-Term Perspective Discipline & Efficiency
  11. 11. A family business is, by its very nature, a living contradiction. Successful, multi-generation family businesses have figured out how to manage these contradictions and in many cases turn them into the secret of their success in a world that is filled with dozens of paradoxes. The family business edge is thus their learned ability to operate in loose, uncertain environments filled with contractions and dilemmas. Family Business as Paradox source: A. Schuman, S. Stutz & J. Ward (2010). Family Business as Paradox. Palgrave Macmillan
  12. 12. A family business is, by its very nature, a living contradiction. Successful, multi-generation family businesses have figured out how to manage these contradictions and in many cases turn them into the secret of their success in a world that is filled with dozens of paradoxes. The family business edge is thus their learned ability to operate in loose, uncertain environments filled with contractions and dilemmas. Family Business as Paradox source: A. Schuman, S. Stutz & J. Ward (2010). Family Business as Paradox. Palgrave Macmillan Not every contradiction is ‘just’ a paradox that can be creatively reconciled Some are genuine conflicts How do you handle those?
  13. 13. Divergent Goals in Family Businesses succession planning family legacy family support grow talent family assets innovation professionalisation growth intergenerational harmony Owners BusinessFamily Author’s elaboration on: Deloitte (2016). Next-Generation Family Businesses. Evolution keeping family values alive.
  14. 14. The Family System The Business System The Ownership System 1. Startup 2. Expansion / Formalization 3. Maturity 1. Controlling Owner 2. Siblings Partnership 3. Cousin Consortium 1. Young Business Family 2. Entering the Family Business 3. Working Together 4. Passing the Baton source: K. Gersick, J. Davis, M. Hampton & I. Lansberg (1997). Generation to Generation: Life Cycle of the Family Business. Harvard Business School Press The Three Axes of Family Business
  15. 15. The Family Structure and the Ownership Structure grow ‘naturally’. To ensure continuity, the business must grow too.
  16. 16. With the current speed of change, the question is not ‘Why should we change what made us successful,’ but ‘What would we do differently if we started again.’
  17. 17. When does the Future begin?
  18. 18. Source: Nagji & Tuff(2012) An Innovation Portfolio
  19. 19. Source: Nagji & Tuff(2012) An Innovation Portfolio where to invest where returns come from
  20. 20. What are the deep drivers of strategic success? source: UNDP (2018)
  21. 21. © Alessandro Lanteri, 2017 systems exponential championship decision-making
  22. 22. How can family businesses master the 4IR? R E A D M Y B O O K ! W H E N I T ’ S P U B L I S H E D …
  23. 23. Thank you for your attention! A l e s s a n d r o L a n t e r i @ A L E S S A N D R O L A N T E R I https://goo.gl/LDTv9L

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