Founder to Family Program at MIT Sloan
MIT Sloan School of Management
Cambridge, Massachusetts, USA
October 17-21, 2022
The Founder to Family program helps founders, or first generation families-in-business, build a bridge to the next generation. Founders and their family members learn to position their companies and families for ongoing success amid a fast-changing business landscape and increasing family complexity. Structure the planning of your transition to the second generation—no matter how distant or close that transition may be. Keep your family business on a path that builds upon the founder’s groundwork and grows value for another generation or more. Accelerate crucial conversations among the founder and his/her family members to resolve issues and set plans for sustaining family and business success.
Family-owned companies, on average, outperform non-family companies, and those at the founder stage are the best performing among them. There are many competitive advantages and good qualities of first-generation family companies that should be continued. At the same time, most founder-stage family companies unfortunately don’t succeed into the second generation. But a family can beat these odds, regenerate their success over generations, and flourish. Companies and families need to evolve to stay relevant and guard against vulnerabilities that can be crippling.
To propel a successful first generation company into the next generation, founders and their families need to develop and successfully blend the next generation into the governance, ownership, management, wealth-building, succession planning, and other important activities of the family. They must foster talent in the management and ownership groups, build good governance of the company, owners and family, and grow assets for future activities.
This 5-day program helps your family learn how to revitalize your success in business and how to integrate the second generation into the plan. It explores the critical elements of managing and owning a high-performance family business, and preparing for the family’s first generational transition—no matter how distant that transition may be. Daily classes with experts explore the complexities of family businesses and the disruptive forces acting on businesses today; family ownership and how to structure and pass it effectively; how to keep the family united and contributing to its enterprise; and how the founder and next generation can partner effectively. Classes stimulate new thinking and promote engaging discussions about the issues family companies at the founder stage face. In addition, every day each family has a private discussion led by an experienced coach to address the topics on their particular agenda which help a family become clear about its goals, capabilities, challenges, and options. By the end of the program each family leaves with an action plan that they can implement going forward.
The Future Family Enterprise program is led by MIT Sloan Senior Lecturer John Davis, a pioneer in the family enterprise field and a globally recognized authority on family enterprise, family wealth, and the family office. Professor Davis joined MIT Sloan after leading the family enterprise area at Harvard Business School for more than 20 years. He is an award-winning teacher and researcher and is the creator of some of the field’s most impactful conceptual frameworks. Professor Davis is also Chairman of Cambridge Family Enterprise Group, a global advisory and research organization. He tweets at @ProfJohnDavis.
Deborah Ancona is the Seley Distinguished Professor of Management, a Professor of Organization Studies, and the Founder of the MIT Leadership Center at the MIT Sloan School of Management. Her pioneering research into how successful teams operate has highlighted the critical importance of managing outside, as well as inside, the team’s boundary. This research directly led to the concept of X-Teams as a vehicle for driving innovation within large organizations.
Bill Aulet is the managing director of the Martin Trust Center for MIT Entrepreneurship at MIT and Professor of the Practice at the MIT Sloan School of Management. The center is responsible for entrepreneurship across all five schools at MIT starting with education but also extending well outside the classroom with student clubs, conferences, competitions, networking events, awards, hackathons, student trips, and most recently accelerators.
Jason Jay is a Senior Lecturer at the MIT Sloan School of Management and Director of the Sustainability Initiative at MIT Sloan. He teaches courses on leadership, strategy, and innovation for sustainable business. Professor Jay engages students and alumni in hands-on projects with leading companies and organizations. These efforts help build a community of innovators for sustainability that includes MIT students and alumni, faculty and researchers, with partners in business, government, NGOs, and hybrid organizations. He is author of the book, Breaking Through Gridlock: The Power of Conversation in a Polarized World.
George Westerman is a Principal Research Scientist with the MIT Sloan Initiative on the Digital Economy. His research and teaching focus on digital technology leadership and innovation. He serves as a Board member for the Technology Business Management Council, Co-Chair of the annual MIT Sloan CIO Leadership Awards, and faculty director for the MIT Sloan course Essential IT for the Non-IT Executive. George has contributed to publications such as Sloan Management Review, Harvard Business Review, The Wall Street Journal, and Forbes. He is co-author of three award-winning books. The most recent, Leading Digital: Turning Technology into Business Transformation was named a top ten book of 2014 by Business Digest and silver medalist in the 2015 Axiom Business Book Awards.
MIT Sloan School of Management
One of the leading education institutions in the world, the Sloan School of Management is the business school of the Massachusetts Institute of Technology. The MIT Sloan campus is located in one of the densest startup and innovation hubs in the world in the neighborhood of Kendall Square in Cambridge, Massachusetts (USA). Participants of MIT Sloan's executive programs are provided the opportunity to experience the inspiration and energy of an unparalleled innovation ecosystem.