November, the month of giving thanks, inspired us to review the latest interdisciplinary research on the role of gratitude in families. Over time, multiple studies have shown that gratitude practices not only strengthen emotional bonds but also build resilience within families, enabling them to navigate challenges and adapt to change more effectively.
On October 1st, the Global Family Enterprise Program held its inaugural Owners' Day, a milestone event that brought together family enterprise leaders, students, alumni, and experts to explore the evolving role of ownership in today’s world. The event showcased the potential for family enterprises to not only drive economic success but to lead with values and create sustainable, positive change across industries, communities, and generations.
Our spotlight is on the latest groundbreaking work by Sheena Iyengar, the esteemed inaugural S.T. Lee Professor of Business in the Management Division at Columbia Business School, and a renowned authority on choice and decision-making.
Jon Sebastiani ’12 took the audience through his journey joining his family’s businesses and expounded on some of the successes and challenges he faced. He shared practical relational advice for those thinking of joining their family’s business and what to look out for, as well as some career advice from his experience launching his own private equity fund after his family sold their business and he graduated from CBS.
Panelists discussed new challenges, from “cancel culture” to personal privacy, which businesses, and their people, must navigate in an inescapably interconnected world.
Young Columbia Business School alumni leaders across the globe and from diverse industries shared their thoughts and insights on how to best position themselves in their family businesses. They also gave students invaluable advice on what they can do now to pave a successful path for themselves at their family businesses in the future.
In the classroom, we introduce students to the importance of family systems theory to understand their own families, and the family enterprises they will own, work for and advise in their careers.
I’ve got a special place near my heart for Dan & Whit’s general store in Norwich, Vermont.
Dynastic-controlled firms are led by founding-family CEOs while the family owns an insignificant share of equity (defined as less than 5%).
The claim that most family businesses fail in the third generation is refuted in this study by Thomas Zellwegger and colleagues.