SUMMARY
The ability to pivot to address threats and seize opportunities is the most defining characteristic of successful families.
The ability to pivot to address threats and seize opportunities is the most defining characteristic of successful families.
No one can predict the future, but you can – and must – be change-ready. How?
Experimentation is an approach that offers a fast, low-risk way to explore and test new opportunities. It can feel risky to do something with a high risk for failure but successful family enterprises learn a lot from intelligent failures.
Enterprising families’ financial stability supports portfolio agility by allowing owners to move into new activities without risking dividends or incurring significant debt or other financial risks. Building organizational agility, however, may prove more difficult. Agile organizations are flat, team-based and digitally connected. They have porous boundaries that invite in outside ideas and talents. Organizations may need to shift from an autocratic to a transformational style of leadership to create a more agile enterprise.
An agile family enterprise can shift direction quickly in response to changing conditions.
Learn moreAgile family businesses can address threats and seize opportunities as they arise, without losing sight of the family’s mission, values, and vision.
Learn morePractice and institutionalize strategic foresight.
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