Crossroads & Choices: Navigating Next Generation Roles in Family Enterprise

Friday, March 22, 2024
All Day starting at 8:30 a.m.
David Geffen Hall, 645 West 130th Street, New York, NY 10027

Get your ticket today for Crossroads & Choices: Navigating Next Generation Roles in Family Enterprise. This conference is dedicated to exploring the unique challenges and opportunities faced by individuals in family enterprises. 

Registration is now closed; limited walk-in registration will be available. Please contact us for more information.

agenda

about

Featuring: Marc De Kuyper - De Kuyper Royal Distillers

Join us for a compelling session with Marc, an 11th generation member of De Kuyper Royal Distillers, globally recognized go-to company for cocktails and one of the main innovation drivers in the cocktail industry, as he delves into the complex dynamics of relinquishing his role within the family enterprise and the subsequent choice of pursuing a remarkable entrepreneurial journey outside the business. Additionally, Marc will address the often-overlooked aspect of contributing to a family enterprise from the outside, and how to adapt when life diverges from a path meticulously planned for years. By sharing his experience, Marc will highlight the value of external perspectives, experiences, and skills in enriching the family business, demonstrating that stepping outside the traditional roles can lead to significant and innovative contributions to the family enterprise's growth and success. 

This session promises to shed light on the intricacies of managing family expectations, navigating internal politics, and balancing personal aspirations with the legacy of a family business.

Marc’s session will be moderated seamlessly transitioned into a session led by Gaia Marchisio, who will guide participants in an engaging deeper exploration of the Conference’s topics. Her session aims to dissect the various elements at play, develop alternative strategies, and foster meaningful dialogue among participants, setting the stage for a highly interactive start to the day, which will offer participants the chance to network, through inspiring conversations, and to expose them to a multitude of perspectives and experiences.

Key Topics

1. Family Receptiveness and Decision-Making: Marc will share his firsthand experience on how he decided to step away from the role that he had prepared for decades, and how that decision was received by other family members. He will explore the emotional and logistical challenges encountered and provide insights into how he managed to address concerns, mitigate tensions, and secure support for his decision.
2. Navigating Family Business Dynamics: Delve into the strategies Marc employed to navigate the policies of making a significant change within a traditional family business setting. Understand the importance of communication, preparedness, and flexibility in achieving a smooth transition.
3. Influence of External Leadership Roles: Discover how Marc's experience as the founder and CEO of Overproof has impacted his approach to think about De Kuyper Royal Distillers. Learn about the valuable perspectives and practices he has brought back to his family enterprise, contributing to its evolution and adaptation in a modern business environment.
4. Pursuing Independent Projects: Marc will offer practical advice for individuals working within family businesses who aspire to explore personal projects or external opportunities. He will discuss how to balance commitments, communicate effectively with family members, and ensure that personal growth and business responsibilities complement rather than conflict with each other.

This session is a must-attend for anyone involved in a family business who faces the challenges of honoring family traditions while pursuing individual ambitions. Marc's journey offers a unique blend of tradition and innovation, providing valuable lessons on navigating change, making difficult decisions, and fostering personal and business growth, including welcoming the unexpected gifts life brings. 

Whether you are contemplating a shift in your role within your family enterprise, seeking to introduce new ideas, or exploring personal projects, Marc's insights will equip you with the knowledge and strategies needed to navigate these waters successfully.

Join us for an enlightening discussion that bridges the gap between respecting legacy and embracing the future, offering a roadmap for those at the crossroads of personal ambition and family responsibility.

This engaging panel discussion brings together a diverse group of Columbia Business School alumni who have been successfully navigating the intricate balance between family expectations and personal career aspirations. Through their unique journeys, these panelists will delve into the critical questions surrounding career choices within and outside the family business realm, offering attendees an in-depth look at the factors that shape these pivotal decisions.

Key Discussion Points

1. Optionality vs. Restriction in Career Decisions: Our panelists will share personal stories about the factors that provided them with the greatest career flexibility or, conversely, imposed significant constraints. They will discuss why these factors were impactful and how they navigated the resulting opportunities and challenges.
2. Navigating Family Expectations: Explore the delicate balance of making career decisions that align with personal goals while managing potential repercussions from family dynamics. The alumni will discuss actions they hesitated to take or are considering, in light of their family's expectations and the broader implications for their roles within the family enterprise.
3. The Value of External Experience: The importance of gaining experience outside the family business is a critical consideration for many. Our panelists will discuss how external roles have shaped their skills, perspectives, and readiness to contribute more significantly to their family business.
4. Family Business vs. External Opportunities: Choosing between joining the family business and pursuing opportunities elsewhere is a significant decision. The panel will provide insights into how they evaluated the differences in working environments, cultures, and the potential for personal and professional growth. They will share their approaches to weighing these factors and making informed choices that best suited their aspirations and values.
5. Evaluating Working Environments and Cultures: The alumni will discuss their personal strategies for assessing the cultural and operational differences between family businesses and other organizations. They will share how these considerations influenced their career paths and the advice they have for others facing similar decisions.
6. Entering the Business, but also Exiting the Business: The decision to enter the family business carries an emotional burden that can be overwhelming, often perceived as a once-in-a-lifetime, definitive choice. The panelists will shed light on the considerations involved in potentially exiting the family business and how to navigate this decision in a way that benefits families, individuals, and the business itself.

This panel promises to be an invaluable resource for anyone at the crossroads of joining a family enterprise or exploring external opportunities. Attendees will gain firsthand perspectives on how to evaluate their options, consider the impact of family dynamics, and make choices that align with their personal and professional goals.

Whether you are a current student contemplating your next steps, an alumni navigating career transitions, or simply interested in the dynamics of family businesses, this session will provide you with practical insights, strategies, and inspiration to chart your own path.

Featuring: The Elmore Siblings of the Elmore Companies 

In this enlightening panel discussion with three out of 6 siblings in G3, we delve into the dynamic world of a family office. This session offers a fantastic glimpse into the complexities and strategies of integrating diverse skills and interests into a family enterprise, ensuring every member feels valued, and navigating the sensitive topics of wealth distribution and compensation.

Key Discussion Points

1. Integrating Diverse Skills and Interests: Discover how this family office embraces the varied skills and passions of each family member, even when they fall outside the business's traditional scope. The panel will explore innovative ways to contribute to the family's success, demonstrating the value of diverse perspectives and talents.
2. Valuing All Contributions: Learn how the siblings have cultivated an environment where everyone, regardless of their level of involvement, feels important and valued. The discussion will cover strategies for acknowledging contributions, big or small, and fostering a sense of belonging and appreciation within the family business.
3. Fairness in Wealth Distribution and Involvement: Hear about their approach to defining and implementing fairness in the family office. This includes decisions on wealth distribution and determining each child's different involvement in the enterprise. The panel will provide insights into the principles guiding these decisions and the practical steps taken to uphold fairness and equity.
4. Navigating Compensation Discussions: The family's approach to discussing and determining compensation when a family member joins the business will be a focal point. Panelists will share their experiences and strategies for handling these discussions with transparency, fairness, and respect for all involved.

This session is a must-attend for anyone interested in the inner workings of a family office or grappling with the challenges of managing a family business with multiple stakeholders. It promises to offer practical insights into promoting cohesion, recognizing individual contributions, and making equitable decisions that respect both the enterprise’s needs and family members' aspirations.

Whether you're part of a family business or interested in the dynamics of family offices, this panel will provide valuable perspectives on balancing professional and interpersonal relationships, ensuring fair treatment, and leveraging diverse talents for the collective success of the family enterprise.

Featuring family from: Huber | WC Bradley | Todd Corporation

Join us for an insightful panel discussion featuring leaders from three centennial family enterprises. These storied organizations have thrived through generations, thanks in part to their structured approaches to governance and support mechanisms designed to guide family members in making pivotal decisions. This session will dive deep into the challenges and strategies of aligning individual aspirations with the overarching needs of large families and enterprises and ensuring their sustainability for generations to come.

Key Discussion Points

1. Navigating Entitlement vs. Resource Utilization: Panelists will explore the delicate balance between preventing a sense of entitlement among family members and encouraging the use of available resources for personal and professional growth. This discussion will address how families can foster a culture of meritocracy, responsibility, and gratitude.
2. Balancing Individual Aspirations with Collective Business Needs: Learn how these centennial enterprises have succeeded in supporting the career aspirations of individual family members while ensuring these ambitions align with the enterprise’s long-term goals. 
3. Managing Inter-Generational Differences: Discover the mechanisms these families have put in place to manage differing opinions within and between generations on alternative direction and decisions. The discussion will cover strategies for effective communication, and decision-making processes that respect diverse viewpoints while maintaining a unified direction.
4. Structured Governance for Individual Support and Business Sustainability: The panelists will delve into the governance structures that have enabled their families to navigate personal and business challenges successfully. They will discuss the importance of clear policies, roles, and responsibilities in supporting individual family members' decisions and ensuring the business's sustainability.

This session is ideal for family business members, leaders, and advisors interested in understanding how long-standing family enterprises have navigated the complexities of managing individual ambitions and business needs. Attendees will gain valuable insights into creating governance structures that support personal development and business growth, managing conflict with grace, and striking a balance between leveraging familial resources and fostering an ethic of earned success.

Whether you are part of a multi-generational family business, working for or advising one, this panel will offer practical strategies and lessons learned from some of the world's most enduring family enterprises. Join us for a rich discussion on ensuring the well-being of large families and the sustainability of their businesses through thoughtful governance and support mechanisms.

Featuring: Sheena Iyengar 

This year, we're thrilled to conclude our day with inspirational guidance from Sheena Iyengar, whose acclaimed book The Art of Choosing has been heralded as one of the best by the Financial Times. Her insights will provide a powerful framework for thinking about choice, freedom, and the intricate interplay between personal desires and familial obligations.