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  • April 10, 2014
  • Article
  • Harvard Business Review Digital Articles

Generation to Generation: How to Save the Family Business

By: Boris Groysberg and Deborah Bell
  • Format:Electronic
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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).
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About The Author

Boris Groysberg

Organizational Behavior
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  • The New-Collar Workforce By: Colleen Ammerman, Boris Groysberg and Ginni Rometty
  • Walmart’s Live Better U By: Boris Groysberg, Annelena Lobb and Kerry Herman
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