We explore how family enterprise leaders can strike the right balance between preserving their organization's legacy and adapting to an evolving business landscape. 

How can family enterprise leaders stay ahead in a fast-changing world? 

Family enterprises are the backbone of economies worldwide, but their leaders face an increasingly critical challenge: how to preserve their organizations' legacies in a fast-changing world. 

What makes somefamily enterprises thrive across generations while others struggle to adapt? How can leaders maintain what made their organization successful while meeting the demands of a new business landscape? And what skills will the next generation of family enterprise leaders need to navigate an increasingly complex future? 

In this episode of Leadership Lounge, we talk to some of our trusted advisors—Justus O'Brien,Anupama Puranik,Diego Esteban, andPeter Gramkov—who share their perspectives on: 

• How successful family enterprises maintain their core values while adapting to market changes 
• Why engaging the next generation is critical for innovation and growth 
• How to navigate tension during periods of transformation 
• What skills future family enterprise leaders will need to thrive 

"One key skill that leaders need is emotional intelligence. You need to understand what is going on in the family. You need to understand the values. But it's super important not only to understand potentially one generation, but several generations.” 

Peter Gramkov, Leadership Advisor, Russell Reynolds Associates. 

Four things you'll learn from this episode 

1. Values and traditions are the heart of every family enterprise. Next-generation leaders must understand the importance of carrying them forward.  
2. Keeping pace with transformation can be the difference between whether a family enterprise can endure across generations—or not. 
3. The most successful family enterprises approach succession proactively rather than in reaction to a leadership departure or crisis. 
4. Exceptional family enterprise leaders combine strong business acumen with emotional intelligence, active listening, and the confidence to challenge constructively. 

In this 17-minute episode, we will cover: 

(00:01:31) How successful family enterprises balance preservation and progress 

(00:06:06) The role of independent board directors in driving change  

(00:09:23) How to create personalized development paths for future leaders  

(00:12:20) Why active listening skills are critical for transformation  

(00:13:47) What the future holds for family enterprises globally 

A closer look at the research from this episode: 

Family Enterprise Advisory  

Global Leadership Monitor H1 2024 

Listen now on Apple, Spotify, and YouTube.