Annual Report 2021

Research Centers

Global Family Business Center

Introduction

The Global Family Business Center is a pioneering hub for family enterprise education, research and outreach that has worked with the world’s leading family businesses for over three decades. IMD was the birthplace of family business education in 1988 and, today, the center’s team continues to build on its legacy, supported by two Chairs dedicated to the study and support of enterprising families – the Wild Group Chair for Family Business and the Debiopharm Chair for Family Philanthropy.

Year in review

Programs
The center designed and delivered several open and custom programs for families, family businesses, family offices and family foundations. In 2021, the center was pleased to run its two flagship open programs on campus: Leading the Family Business and Leading the Family Office.

On the custom program side, the team worked with a large European business-owning family to create a “family campus” with a one-year journey to help the next generation focus on and define its role in the future of its family enterprise system. A multi-year program with another large European family focused on board strategy and leadership development. Work with a mid-sized Asian family enterprise involved implementing a world-class corporate governance structure, while the center also helped ultra-high-net-worth families develop or enhance their family offices.

The appointment of Cambridge Family Enterprise Group Senior Adviser and Partner Mario Marconi as Executive in Residence will further strengthen the center’s education and advisory activities.

“Peter (Vogel) is an amazing teacher and his ability to create a safe space for us to engage and be vulnerable is incredible. Peter made us use our minds and our hearts to understand challenges in the family business, which is critical to ensure rational but emotional thinking.”
Leading the Family Business program participant

Highlights

Highlights

1 case
8 conference papers
6 awards received

1 +
research publications
1
FT50 articles
1
academic articles
1
book chapters

Research
The center enjoyed one of its most productive years on record, publishing or contributing to more than 80 pieces of research content, including five FT50 articles. The team also welcomed Ivan Miroshychenko as Research Fellow and Term Research Professor.

In 2021, the center received the Family Firm Institute International Achievement Award for its contribution to understanding the international challenges faced by family businesses.

The relevance and quality of the team’s output was recognized internationally, with Alfredo de Massis securing four awards from the IFERA and FERC for best research, best cases and best papers. Family Philanthropy Navigator by Peter Vogel, Etienne Eichenberger and Malgorzata Kurak won silver at the Axiom Business Book Awards.

Hybrid work has fundamentally changed how leaders need to lead. In 'The Future of Team Leadership is Multi-modal', we explain why and provide actionable insights and clear guidelines for leaders at all levels. The actionable insights indicated what leadership approach to use in what modality (virtual versus in-person) and in what context (one-on-one, team, and external). At a time when so many are struggling to keep their people focused and engaged, the article provided welcome clarity.
Professor of Organizational Behavior Robert Hooijberg and Professor of Leadership and Organizational Change Michael Watkins

Outreach
The center played a key role in the integration into IMD of the Lorange Network, founded by former IMD President Peter Lorange, with the aim of continuing the network’s success in providing real-world learning to members, including many family businesses and offices. Experts from the center delivered presentations and webinars for a wide range of events and partners, including the World Investment Forum, UBS, Barclays, the Family Business Network and the Global Family Office Summit.

The MBA Family Business Club launched in 2021, bringing together MBA alumni from family firms for networking and learning, including a session on demystifying family enterprises, led by MBA family business leader Nicolas de Toledo.

Danish sustainable water technology company Grundfos became the 26th winner of the IMD Global Family Business Award, sponsored by Pictet, while the J.M. Huber Corporation won the 2020 IMD-Pictet Sustainability in Family Business Award.