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Prof. Dr. Peter Vogel / www.petervogel.org / info@petervogel.org / @pevogel
Engaging the Next Generation of
Intrapreneurs
GLOBAL IMPACT OF
FAMILY BUSINESSES
Global Impact of Family Businesses
33
Image: BFF Infographics
Data sources: FFI & European Family Businesses, 2012
4
Global Impact of Family Businesses
Data source: European Family Businesses, 2012
Family Firm Institute
PWC, 2012
Contrib...
5
Global Impact of Family Businesses
Family businesses are…
 … more profitable in the long run & outperform non-family bu...
6
Global Impact of Family Businesses
Family Businesses Matter in Society and the Economy!
CHALLENGES FOR
FAMILY BUSINESSES
8
Challenges for Family Businesses
Population
dynamics
Speed
of innovation
& economic renewal
Changing
global power
Changi...
NEXT GENERATION
DEEP DIVE
10
NxG Succession Dilemma
 < 5% of NxG in their 30s have intentions to take over family business
 Trend: Succession inte...
11
Characteristics
Source: BFF infographics
12
Entrepreneurship as a Desirable Career
0% 10% 20% 30% 40%
Becoming an entrepreneur
Taking over my family's
business
Emp...
13
Conflict between Entrepreneurial Desire & Succession?
Source: BFF Infographic
FOSTERING NXG
INTRAPRENEURIAL
ACTING & THINKING
15
Why Intrapreneurship Matters for Family Businesses
 Opportunity for generations to collaboratively work on future of f...
16
Fostering NxG Intrapreneurialism – Talent Development
 Involve them early on in the family business
 Let your kids ta...
17
Fostering NxG Intrapreneurialism – Culture of Creativity
 Create a culture of intrapreneurial thinking and acting
 Li...
18
Fostering NxG Intrapreneurialism – Market for Capital
 Provide them with financial resources to work on own ideas & le...
19
 Help them experience and handle risk and their own boundaries
 Allow them to make mistakes and learn from them
“Only...
Prof. Dr. Peter Vogel
Mail: info@petervogel.org
Web: www.petervogel.org
Thank you for your attention.
“Before the multinat...
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Engaging the Next Generation of Intrapreneurs in the Family Business - BFF Family Business Think Tank

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I gave this keynote at the BFF Family Matters Forum 2015 in Miami, talking about how family businesses can harness NxG entrepreneurial acting and thinking within the family business.

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Engaging the Next Generation of Intrapreneurs in the Family Business - BFF Family Business Think Tank

  1. 1. Prof. Dr. Peter Vogel / www.petervogel.org / info@petervogel.org / @pevogel Engaging the Next Generation of Intrapreneurs
  2. 2. GLOBAL IMPACT OF FAMILY BUSINESSES
  3. 3. Global Impact of Family Businesses 33 Image: BFF Infographics Data sources: FFI & European Family Businesses, 2012
  4. 4. 4 Global Impact of Family Businesses Data source: European Family Businesses, 2012 Family Firm Institute PWC, 2012 Contribution to Global GDP Contribution to Global Job Creation Family businesses (FB) Non-FB 70 – 90% 50 – 80%
  5. 5. 5 Global Impact of Family Businesses Family businesses are…  … more profitable in the long run & outperform non-family businesses  … less likely to lay people off despite a potential economic downturn  … more likely to give to their community & engage in philanthropy  … more future-oriented with long-term strategic goals Data source: Family Firm Institute
  6. 6. 6 Global Impact of Family Businesses Family Businesses Matter in Society and the Economy!
  7. 7. CHALLENGES FOR FAMILY BUSINESSES
  8. 8. 8 Challenges for Family Businesses Population dynamics Speed of innovation & economic renewal Changing global power Changing & more complex family structures Succession not planned early enough NxG with different characteristics & goals
  9. 9. NEXT GENERATION DEEP DIVE
  10. 10. 10 NxG Succession Dilemma  < 5% of NxG in their 30s have intentions to take over family business  Trend: Succession intentions are decreasing Data source: BFF Infographics Zellweger et al., GUESSS, 2015, HBR, 2014
  11. 11. 11 Characteristics Source: BFF infographics
  12. 12. 12 Entrepreneurship as a Desirable Career 0% 10% 20% 30% 40% Becoming an entrepreneur Taking over my family's business Employee in a large firm Employee in an SME 5 years after graduation University graduates Source: GUESSS project
  13. 13. 13 Conflict between Entrepreneurial Desire & Succession? Source: BFF Infographic
  14. 14. FOSTERING NXG INTRAPRENEURIAL ACTING & THINKING
  15. 15. 15 Why Intrapreneurship Matters for Family Businesses  Opportunity for generations to collaboratively work on future of firm  Foster entrepreneurialism of NxG & build emotional ownership  An overall intrapreneurial setting will trigger employee engagement  Ensure continued innovativeness of firm to compete on global market
  16. 16. 16 Fostering NxG Intrapreneurialism – Talent Development  Involve them early on in the family business  Let your kids take responsibility and take decisions on their own  Allow them to be critical about the status quo and create new ideas  Ask for their opinion on things and let them grow into the firm
  17. 17. 17 Fostering NxG Intrapreneurialism – Culture of Creativity  Create a culture of intrapreneurial thinking and acting  Listen to their ideas and serve as mentor and sounding board  Turn regular learning into a playful & creative interaction
  18. 18. 18 Fostering NxG Intrapreneurialism – Market for Capital  Provide them with financial resources to work on own ideas & learn  Teach them financial literacy through letting them do things  Create a family-wide seedfund for NxG entrepreneurial ideas
  19. 19. 19  Help them experience and handle risk and their own boundaries  Allow them to make mistakes and learn from them “Only those who dare to fail greatly can ever achieve greatly” – Robert Kennedy Fostering NxG Intrapreneurialism – Risk & Failure
  20. 20. Prof. Dr. Peter Vogel Mail: info@petervogel.org Web: www.petervogel.org Thank you for your attention. “Before the multinational corporation, there was family business. Before the Industrial Revolution, there was family business. Before the enlightenment of Greece and the Roman empire, there was family business.” (William O’Hara)

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