Future Family Enterprise Program at MIT Sloan 2020
MIT Sloan School of Management
Cambridge, Massachusetts, USA
The Future Family Enterprise program for multigenerational families helps participants implement the important driving factors of enduring, family enterprise success. It leads multigenerational families through a stimulating week-long conversation that produces clarity on the path ahead for each participating family and its enterprise. Your family will learn practical concepts and tested practices—organized around examples of multigenerational success and failure—to aid your thinking, improve your long-term planning and alignment, and shape the roadmap of your family enterprise system.
The six-day course explores where family enterprises are going and how they are being shaped by various trends and disruptions that are likely to impact their operating companies, wealth, family offices, governance, ownership strategy, and talent. It provides strategic thinking and planning sessions about what will drive their success in the future economy. MIT faculty explore the opportunities, challenges, and future trends for owning, governing, and managing a family company and a broader family enterprise organization over multiple generations.
The program leads families through a stimulating team experience with interactive classroom work and exchanges among families from around the world. In addition, your family will have daily, private, facilitated family meetings with a coach to focus on your interests and agenda. You will actively work together to build a roadmap for your family enterprise, leaving the program with a tailored plan to keep your family and enterprise on the path of long-term success.
Who Should Attend
The program is a transformative experience for families with sibling or cousin ownership groups where the second, third, fourth, or later generations are in control of the business or wealth. Conversations and class sessions focus on the distinct issues faced by multigenerational families that have survived beyond the founder-stage.
Families participate in teams of four or more individuals. The program helps teams advance their thinking, look outward and gain altitude, envision the future, improve their long-term planning and alignment, and focus on their own interests and agenda.
The program views the family enterprise through the lens of ownership, helping family members to understand the important decisions that are theirs to make, and how to govern and plan for the longevity of their family’s enterprise activities.
Participants may include: Key owners and board members, and their successors; leaders in the family, ownership group, and business; family members with the interest and commitment to think about the future; next generation members who are deciding about their involvement in the family enterprise; other talent that a family wants in their thinking group as they discuss and develop plans for the future of their family enterprise.
Important questions addressed include:
- How family enterprises evolve over generations and how to succeed in today’s disruptive environment
- How technology is shaping industries and companies, and how family-owned enterprises must adapt
- How to articulate your family’s mission and core values
- How to manage generational transitions of leadership, ownership, governance, and wealth creation in this fast-changing environment and with the emergency of the Millennial Generation (Gen Y)
- How to decide on a portfolio strategy for your family company, investments, and family office
- How to decide among an array of emerging strategies for capitalizing, owning, and controlling your family company and investments
- How families are modernizing and remaining united in this mobile, globalized world
- How to govern the family, ownership group, company, family office, and other organizations of the family as the family and its activities become larger and more complex
- How to keep the family and its enterprise on the path of long-term success
- How to decide among the latest strategies for steering and sustaining a complex, multigenerational family enterprise, with a growing number of family owners, for another generation or more
The combined experience of faculty and participants produces deep understandings and even profound transformations for participating families. Your family will have conversations you never anticipated and will leave the program feeling closer and more aligned about your future as a result.
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.
Jake Cohen is Senior Associate Dean for Undergraduate and Master’s Programs and a Senior Lecturer in Accounting and Law at the MIT Sloan School of Management. He teaches Financial Accounting to Master of Finance and Executive Education students, as well as Israel Lab, the newest addition to MIT Sloan’s portfolio of Action Learning programs. Professor Cohen oversees MIT Sloan’s portfolio of degree programs, as well as the Offices of Admissions, Student Life, and Career Development. He is responsible for setting strategy for the undergraduate and all Master’s programs, including the new Master of Business Analytics program. Professor Cohen is a member of the Dean’s Leadership Council, and MIT’s Title IX officer for MIT Sloan.
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.
Jonathan Ruane is a Lecturer in the Global Economics and Management group at the MIT Sloan School of Management and a Digital Fellow at MIT’s Initiative on the Digital Economy (IDE). His interests are at the intersection of technology, entrepreneurship, strategy and international markets. He also is an Adjunct Professor at Trinity College Dublin and a Fulbright recipient. Professor Ruane cofounded the ‘Global Business of Artificial Intelligence and Robotics’ graduate course with Prof Simon Johnson in addition to teaching across MBA, EMBA, and Executive Education courses at MIT. He worked closely with Andrew McAfee and Erik Brynjolfsson on “Machine Platform Crowd.”
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.