Release date: Thursday, December 10, 2020
Speaker: Josh Baron of BanyanGlobal
Description: Family ownership has long been recognized as bringing tangible benefits to companies. For most of the last century, those benefits were largely outweighed – at least in the advanced economies of North America and Europe – by the limits on growth that came from not having access to outside capital by selling ownership to the public. In the “race to scale”, family companies were at a marked disadvantage.
But the game has changed. This century will be characterized by dramatically increased volatility in demand, supply, winning business models, talent and financial resilience. Today and into the future, being big is no longer a guarantee of survival or an impediment to success in most industries. Instead, the people-friendly, fiscally conservative, decisive, community-oriented, and actively involved manner in which effective family owners run their companies can create a lasting competitive edge, one that is simply unavailable to public companies.
Based on an assessment of global trends and experience working with family-controlled companies around the world, Josh Baron, Co-founder and Partner at BanyanGlobal, will highlight five “survival strategies” that can help family businesses to thrive in 21st century and provide insights that executives of public companies should consider.