Publications
Publications
- April 10, 2014
- Harvard Business Review Digital Articles
Generation to Generation: How to Save the Family Business
By: Boris Groysberg and Deborah Bell
Abstract
Most family-owned businesses—approximately 70%—last just one generation. Because an estimated 80% of businesses across the globe are family-owned, the low survival rate has alarming consequences. Consider this: In the United States alone, family-owned businesses (FOBs) are responsible for 60% of total US employment and generate 78% of all new jobs. Further, some of the world’s biggest companies are family-owned—News Corp, Samsung, Tata Group, and Walmart to name but a few—and more than a third of Fortune 500 companies are family-owned.
Keywords
Family Business; Governing and Advisory Boards; Strategy; Management Succession; Competency and Skills; Diversity
Citation
Groysberg, Boris, and Deborah Bell. "Generation to Generation: How to Save the Family Business." Harvard Business Review Digital Articles (April 10, 2014).
About The Author
