MIT Sloan Executive Education offers the Founder to Family: Sustaining Family Business Success program, geared to assist founders or first-generation families-in-business in building bridges to the next generation.
Held at MIT Sloan in Cambridge, MA, this five-day program helps founders and family members learn to position their companies and families for continued success by integrating the second generation into the business plan. MIT Sloan Senior Lecturer John Davis, a pioneer in the family enterprise field and globally recognized authority on family enterprise, family wealth, and the family office, leads this program, which is designed for family teams of four or more individuals in the first and second generations. The team may also include non-family members who play a significant role in the company.
* Deciding the mission and values of the family’s activities that the family wants to perpetuate
* Planning for the growth, evolution, and diversification of the business and the family’s other assets
* Building management talent, managerial and governance systems to professionalize (increase the capabilities, methods, and standards of) the business and family office
* Choosing the right ownership model and building a united and capable ownership group
* Developing a reinvestment and dividend approach that meets company and owner goals
* Developing a united next generation team
* Preparing the next generation to capably assume key roles in and out of the business
* Preparing for an effective generational transition – no matter how distant that transition may be – respecting the interests of both generations and the family company
Daily classes will stimulate new thinking and encourage discussion about the issues faced by family companies. Each day, teams take part in private discussions led by an experienced coach to address topics on their agenda. Each family takes home an action plan they can implement going forward.
For more information on the Founder to Family: Sustaining Family Business Success program, visit the MIT Web site.
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