We curate tailored programs for family businesses, drawing from our exclusive research and case studies on Steward Leadership. Our approach focuses on fostering organisational behaviour change that creates lasting positive impact on corporate performance, and experiential learning to gain insights into stewardship practices in diverse family business contexts, particularly in parts of Asia.
Stewardship is particularly pertinent to family businesses, which form a key component of economic activity around the world. This is especially relevant in Asia, where family businesses remain the mainstay of business ownership, and families continue to be influential players in the business landscape as owners as well as managers. Family businesses are very diverse in nature – ranging from small, medium local enterprises to huge conglomerates that operate across industries and countries.
Successful and sustainable family businesses create wealth and growth for the family across generations. In their stewardship journey, such significant and lasting family businesses leave a rich legacy, contributing significantly to the multiplier effects such as knowledge creation, economic development and capacity building of human and social capital to benefit society in the long run.
Notwithstanding their diversity in scale and nature, family businesses in general face some common challenges:
- Responding and adapting to the vortex of disruptive changes stemming from the global and local fronts, while still maintaining the sense of purpose that propelled them to success
- Maintaining coherence and harmony as ownership becomes more fragmented over time
- Attracting, retaining and “professionalising” talents that constitute the human capital essential for family businesses to maintain their competitive edge
- Transitioning successfully during periods of leadership renewal, especially for firms where the influence of the founder-leaders dominate
- Guarding against the pitfalls of hubris and complacency on one hand, and a reluctance to adapt due to inertia to changes on the other
- Upholding high standards of resource management and corporate governance
To navigate these challenges amid an increasingly demanding business environment, stewardship has become even more relevant and essential to family businesses and their leaders. To help family businesses emerge over time as engaged, forward-looking and adaptable enterprises, family business bosses must mature into Steward Leaders.
Our programmes are curated to help family businesses learn how Steward Leaders can future-proof organisations. Hear from business leaders who “do well by doing good” as they share their transformational stories of transitioning into Steward Leaders. Guided by the Steward Leadership Compass©, family businesses would be equipped to leverage their inherent strengths and competitive advantages to remain resilient in the face of changing times and disruptions, overcoming adversity and outperforming their competitors.
Watch this space for the next instalment of Family Business Masterclass!
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