Global Immersion: Consulting and Advisin

Family enterprises are the most prevalent form of organization worldwide, yet they are also the most complex. Advisors must navigate business-related challenges, ownership issues, and the evolving dynamics of growing families. With an expected transition of $180 trillion in the next decade and $70 trillion already underway, family enterprises are increasingly attractive clients for advisors.

Many advisors mistakenly equate years of practice with competence, overlooking the need for specialized training in family enterprises. Research highlights a troubling misalignment: while family firms prioritize relational concerns as key drivers of business operations, strategy, decision-making, and work roles, advisors often focus on structural and cognitive aspects. This misalignment can lead to ineffective or even damaging outcomes for both the family and the business.

The primary objectives of this course are to identify and build the skills related to the profession of advising family enterprises to increase the potential for creating long-term value for clients and advisors and to create awareness around the biggest risks and mistakes advisors may encounter while advising family enterprises, exploring the concept of code of ethics. This course aims to bridge the gap between advisors' general practices and the specific needs of family enterprises by providing specialized education and firsthand cultural experiences.

As culture plays a significant role in shaping the decision-making process of enterprising families, particularly in terms of individualism and collectivism, this class offers a unique opportunity to explore the profound impact of these factors on the identity of such families. By immersing ourselves in Italy, we will witness collectivism in action, gaining invaluable insights into its influence within families and among advisors. Moreover, this international trip provides a platform to experience firsthand the contrasting dynamics of transactional and relational environments, enhancing our understanding of the multifaceted nature of business relationships.

By the end of this course, participants will have explored and experienced the core of advising family enterprises as a profession, including appreciating specific skills, interpersonal and value-based competencies, and concrete behaviors showing professionalism to be better prepared to appreciate and navigate the complexities of family enterprises.

There will be six 90-minute sessions on campus, foll