Business school tries to spruce up family businesses

Family-owned businesses often face special challenges. Their team leaders are often related to each other and private issues play into professional ones. One business school offers a specific programme to give these family executives a helping hand in getting their enterprise ready for the future.


Insead’s Family Enterprise Challenge addresses all the issues that might be related to family enterprises: Who will lead the family and/or the firm into the next generation? How to disentangle personal and business relationships? Should long-term investment take precedence over short-term dividends?

According to the international business school that has campuses in Fontainebleau (France), Singapore and Abu Dhabi it is essential for a privately-owned family business to get these answers right to achieve a high-performance business and a happy, wealthy family.

The Family Enterprise Challenge is designed to help family businesses address the universal issues as they apply to their own business and family by combining studying the latest research with practical workshops. The Challenge lasts four and a half intensive days and Insead recommends for businesses to bring two to eight members from the same family enterprise along.

According to the school the teams will develop a concrete action plan for career planning, talent development, family meetings, family agreements and governance and gain insights into the psychological dynamics of family leadership, business management, and family and business governance. Sessions will also address how to manage conflict, complex family structures, diverse personalities and difficult relationships. Within the course participants will master a range of family business tools, such as the Parallel Planning Process and Fair Process.

These offers are not only available at the main campus in Fontainebleau. Currently Insead has partnered with TSW, the executive education wing of Times Professional Learning (TPL), for Insead's first edition of 'Leading Indian Family Enterprises' (LIFE). The three-day experiential business learning workshop will be conducted in March at Insead's Asia campus in Singapore according to the Times of India.