| Course Description |
Family enterprises are the most widespread and complex form of organization in the world, shaping economies, communities, and legacies alike. Taken together, they would represent the world’s third-largest economy, after only the United States and China. They account for up to 80% of companies in Europe, represent 90% of all businesses in the U.S., and generate the majority of GDP and employment in many countries worldwide. They also fuel innovation, 85% of global start-ups are built with family wealth, and create significant impact across industries and societies.
Their scale and prevalence mean that no matter where students’ career takes them (whether managing their own family’s enterprise, working inside another family firm, or advising business families as a lawyer, consultant, or financial professional) students will intersect with them.
For decades, it has been widely repeated that “only 3% of family enterprises survive to the third generation.” More recent research challenges this myth, showing that many families endure, and even thrive, when they approach enterprise and family challenges with a clear understanding of their interdependence across generations. This course helps students understand why that is, and how families can build strategies that not only preserve wealth but also create resilience in the enterprise, in the family, and in individuals.
Because of their scale and complexity, we have designed a Family Enterprise Pathway that allows students to explore different aspects of family enterprises in depth. This course is the entry point for all of them. It provides the essential foundations for understanding the complexity of family enterprises and prepares students for deeper exploration in the rest of the pathway.
At the heart of this course is a systemic approach. Family enterprises are not simply businesses with shareholders, they are systems of systems, where emotional, social, and economic dimensions intersect with ownership, governance, and strategy. By learning to see and interpret these systems, students begin to make sense of what often feels incomprehensible: why family dynamics can be both a powerful source of resilience and a potential cause of struggle. Students will explore the role of owners, succession and continuity across generations, the impact of time on individuals and enterprises, and the multiple goals and needs that shape decision-making. They will gain not only an appreciation for the unique identity of family enterprises, |
