LocationNew York, NY
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FOX Welcome and Update
The 10 Trends…and…Taking a Family Enterprise View presented by Amy Hart Clyne, Managing Director-Content, Family Office Exchange
The perennial question facing financially successful families is how to preserve the family wealth and well being beyond the second generation. It isn’t luck or the size of the fortune that avoids the curse of “shirtsleeves to shirtsleeves in three generations.” The secret is transitioning to a “family enterprise view” by the third generation that enables a family to maintain its financial and human capital for multiple generations into the future.
Host presentation during lunch
Family Office Sustainability: The Roles of Governance and Entrepreneurial Orientation (EO)
Presenter: Kirby Rosplock, PhD, Director of Research & Development in GenSpring’s Innovation & Learning Center
What role does Entrepreneurial Orientation (EO) and governance practices play in how families sustain their family office across generations? During the NYC FOX Member Regional Briefing, findings from GenSpring's “Sustaining the Family Enterprise Study” will be shared. Specifically, the forum will drill into how the family office endures over successive generations and the role that EO, or the ability to function autonomously, innovate and take risks, initiate competition, and be proactive in the marketplace, has on family office longevity. What role does stewardship play in sustaining the family office? How/do governance practices, processes, and structures that families employ in their family office impact on sustainability? Research findings will be applied to current family office experiences in an interactive discussion following the presentation and tease out relevant stories, experiences and examples from today.
The briefing will have as collateral leave behinds the “Sustaining the Family Enterprise” Report of Findings. If participants are interested, two forthcoming articles (September and October release) on the research findings in the Journal of Family Business Strategy and the Journal of Management and Entrepreneurship may also be made available.