Learn the disruptive forces impacting family enterprises and families in the New Economy and the practical concepts and practices for sustaining success for generations to come.
Enterprising families who survive for generations know that long-term success requires change and agility. This has never been more true than in today’s turbulent era. Recent research indicates that enterprising families recognize they need to adapt in order to remain successful, while most feel unprepared to change in the ways required. That’s because today’s environment of constant, sometimes seismic, change has altered the game for family enterprises. In this new terrain, leaders and owners of family enterprises must learn the new formula for success.
The Future Family Enterprise program leads multigenerational family teams through a week-long conversation to understand the future, assess their readiness for it, strengthen their approaches and capabilities, and plan for their continued success through this turbulent age and beyond.
True to MIT’s philosophy of turning learning into action, family teams are guided through an action planning exercise to move beyond understanding into the implementation of important success factors, applied to their family enterprise. Join business families from around the world and bring your family to MIT to learn together, improve your long-term planning and alignment, and shape the roadmap of your family enterprise.
In this six-day program (Sunday afternoon to Friday at noon), faculty explore the opportunities, challenges, and future trends for owning, governing, and managing a family company and a broader family enterprise organization across multiple generations. Conversations and class sessions focus on the distinct issues faced by multigenerational families. The program views the family enterprise through the lens of ownership, helping you to understand the important decisions that are yours to make, as well as how to govern and plan for the longevity of your family’s enterprise activities.
Through interactive classroom sessions, case discussions, exercises, exchanges across families, private discussions within families, and action planning, you and your family will better understand the following and more:
- How family enterprises evolve over generations, and how they succeed in a disruptive environment
- How to remain united as a family and agile as an ownership group
- How to articulate your family’s mission and core values, and how to reinvent them for changing times and the new generation
- How to engage, prepare, and partner with the next generation
- How to manage generational transitions of leadership, ownership, governance, and wealth creation
- How to construct and grow your portfolio of businesses and investments, within and outside of your family business and family office
- How to adapt your organization, ownership, governance, talent, and culture to meet the challenges and opportunities of the future
- How to decide among an array of ownership and capital options for your family company and other investments
- How to design governance of the family, the ownership group, the family company, the foundation, and other organizations in the family enterprise
- How to have a social impact throughout your family enterprise and family
- How to keep your family and family enterprise on the path of long-term success
