Family Enterprises and Wealth (Online)
Overview
The largest 500 family businesses account for $8.02 trillion in revenue and employ 24.5 million people. Collectively, they make the third largest contribution to the global economy, leaving no doubt about their impact on the global business landscape. Family enterprises are ingrained into the world’s culture, often having widespread influence across their communities and beyond.
Typically encompassing one or more businesses, holding organizations, family offices, trusts, and foundations, a family enterprise can be incredibly complex. And working with family members is not easy. Family dynamics, multi-generational ownership, family wealth, and vision all present unique challenges.
Designed by Patricia Angus, an adjunct professor and managing director of the Global Family Enterprise Program at Columbia Business School, this program combines theory with practice to provide a comprehensive understanding of an institution that is at the heart of our global economy. Using faculty-authored case studies, application-based assignments, peer discussions, and more, this program imparts knowledge of leadership principles, management, philanthropy, social enterprise, succession, and sustainability, preparing learners to play a critical role in the long-term success of a complex family enterprise (CFE).
Please contact our partners at Emeritus at columbia@emeritus.org, +1 315-982-5094, or +1 315-277-2746 for a personal conversation about this program and how it may benefit you.
Delivered in collaboration with
Impact
At the end of this program, you will be able to:
- Distinguish aspects like a family business, family office, joint investments, and charitable endeavors of a CFE
- Analyze the impact of complex family enterprises on a global scale and evaluate your own position within it
- Apply several frameworks, including the family systems theory and the Family Governance Pyramid™, to complex family enterprises to resolve the flaws in the existing governance system
- Navigate real-world challenges that affect CFEs and identify the key drivers of successful stakeholder relationships
- Understand and empathize with other key stakeholders’ perspectives to better serve the needs of key stakeholders and clients
- Evaluate the community impact of family enterprises and reflect on the future trajectory of their businesses
Program Structure
Case Studies
Pritzker Family Enterprise: A Family Governance Case Study
Understand the challenges of building a strong family governance system from one of the wealthiest and most philanthropic families in the United States who primarily managed their assets in order to enrich the family.
The House of Redstone: Family Enterprise in Three Acts
Learn about the evolution of the complex Redstone family enterprise over several generations. Led by Sumner Redstone, who seized opportunities that exponentially grew his father’s drive-in theater business to become one of the world’s largest media conglomerates.
Participant Profile
- Family members, shareholders, and leaders of complex family enterprises who want to create a shared vision and form policies and processes that can improve the sustainability and health of their family enterprise
- Family office professionals and advisors who want to become trusted advisors and gain familiarity with the key theories pertaining to family enterprises and who seek to serve as strong catalysts for the success of the enterprise
- Institutional investors who want to specialize in family wealth management and understand the challenges specific to high-net-worth families, including venture capital and private equity professionals who want to formulate an effective practice within a family enterprise
Faculty
Patricia Marie Angus
Adjunct Professor of Business, Finance and Managing Director, Global Family Enterprise Program, Columbia Business School
All certificate images are for illustrative purposes only and may be subject to change at the discretion of Columbia Business School Executive Education.
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