Family Business and Responsible Wealth Ownership: Preparing the Next Generation

Family businesses and wealth owners today face a range of challenges, including government interventionism, business disruption, technology-driven change, international conflicts, and the climate crisis. This report aims to develop a shared mindset and better understanding across and between the generations, focusing on key issues such as finding and deploying purpose, effective mentorship, resolving intergenerational conflicts, navigating social media, and creating the next generation of entrepreneurs. It is essential reading for all generations involved in family businesses and wealth ownership and an invaluable guide for those who advise families from a professional services or wealth management perspective.

Format: Paperback / softback
Length: 179 pages
Publication date: 14 July 2021
Publisher: Globe Law and Business

Family businesses and wealth owners today face a multitude of challenges, including increasing government interventionism, business disruption, technology-driven change, international conflicts, and the climate crisis. Moreover, the move towards greater transparency of the midshore and onshore world, the implementation of the Common Reporting Standard, the heightened scrutiny of wealth owners by governments and the media, and the pandemic underscoring the need for more sustainable business practices further complicate the processes of creating, retaining, and transitioning wealth. How can the rising next generation make sense of and adapt to this complex world?

To address these challenges, Family Business and Responsible Wealth Ownership: Preparing the Next Generation aims to foster a shared mindset and improved understanding across and between generations, with a particular focus on the perspectives of the next generation. The report encompasses key issues related to the significant and often complex transitions that all families encounter, as well as themes that are particularly relevant for wealth and business owning families in the era of increasing emphasis on responsible capitalism.

In this comprehensive report, an international group of experts with decades of practical experience working with wealth-owning families worldwide brings together the perspectives of the lived experience of business owning families and the advisory world to examine a range of critical topics:

Finding and deploying your purpose: Understanding the driving force behind your business and aligning your actions with your values and aspirations.

Effective mentorship for the next generation: Providing guidance and support to the next generation of family members to ensure their success and growth.

Resolving intergenerational conflicts: Navigating the challenges and tensions that may arise between different generations within a family business or wealth ownership.

Navigating social media: Utilizing social media platforms effectively and responsibly to enhance communication, reputation, and engagement.

Creating the next generation of entrepreneurs: Encouraging and nurturing the entrepreneurial spirit within the next generation to drive innovation and growth.

This title is a must-read for all generations involved in family businesses and wealth ownership. By exploring these key issues, the report provides valuable insights and strategies for navigating the complexities of the modern world and preparing the next generation for success in the world of business and wealth.

Weight: 602g
Dimension: 211 x 296 x 16 (mm)
ISBN-13: 9781787425026