Family firms and enterprise families hold a unique place in society, contributing hugely to economic growth, employment and social cohesion. Their long-term vision, strong values and culture give them a competitive edge that non-family firms often can't replicate. They nurture entrepreneurship, offer financial stability and are better at absorbing shocks, leading to fewer societal costs. The dual focus on financial and social goals explains why family firms often outperform non-family enterprises. Professor of Resilient Family Business and Enterprise Families Maarten de Groot says in his inaugural lecture.
However, family businesses also face challenges like internal conflicts and balancing tradition with innovation. To thrive in today’s rapidly changing world, enterprise families must cultivate resilience. This ability to adapt helps them survive through generations and makes them stronger for future growth. This Chair aims to prepare the rising generations of enterprise families and advance our understanding of how family firms can continue to prosper and contribute positively to society.
