DEVELOPING THE NEXT GENERATION CONFERENCE
The next generation is probably the most thought about, talked about topic in the family enterprise field, and for good reason. The stakes of developing the next generation in a business family are generally very high. Generational transitions can be complicated and require that the next generation is ready. How to ensure that the next generation is prepared for their future roles, and the handoff is smooth, is the essence of the Developing the Next Generation Conference.
Why Develop the Next Generation?
For a family enterprise to endure over the long-term, the next generation must be interested, competent and ready to assume responsibilities in management, ownership, wealth creation and leadership. If the baton can not be passed to a capable next generation, it could mean the end of a family’s joint economic interests together. Without common economic interests, families often lose their unity and common identity, and eventually atrophy. For families that are intent on remaining united and successful over the long-term, it is essential for the next generation to be developed to carry out several roles that keep the family enterprise and the family together and growing.
Developing the next generation is a process, not an event, that requires deliberate strategies, oversight and patience. The development process spans a wide range of ages and activities, from very young children who are learning the family’s values, to young adults who are deciding their professional career paths, to adults who assume leadership and wealth generation responsibilities, to parents who are raising the young generation. Families need to be investing in next generation development on a constant basis and for many different roles.
Professor John Davis’ new Framework for Family Sustainability identifies the Development of Family Talent as one of the main tenets of success for families who want to endure together over the long-term. His research has led to the rethinking of succession in family enterprises. Typically, families focus on identifying and grooming the next generation business leader. While this is necessary, it is not sufficient. Next generation members need to be developed to fulfill several roles, including business leader, board member, owner, entrepreneur, wealth generator, family unifier, and family leader, among others. The Cambridge Institute’s breakthrough research reveals the many roles that need to be filled in families, and how to develop next generation members for them.
Each of these stages and roles will be addressed at the Developing the Next Generation Conference where new concepts and grounded practices will be shared to guide the development of next generation members. To learn the key takeaways and topics that will be addressed at the Conference, view the digital brochure and schedule (coming soon).
The Conference is a forum for families to engage with one another around next generation issues. Participation is suitable for family members who are interested in discussing this topic. Attendance is limited for academics, non-family professionals and family office executives by requiring that they attend with a family. Participation in teams of 3-5 people is encouraged. (Minimum age: 18)
Participants may include the following people:
- Next generation leaders, business owners and entrepreneurs
- Senior generation business leaders and family leaders, and their successors
- Current and future business owners, board members and family council members
- Supportive family members from the senior and junior generations
- Family Office managers
Convene Conference Center, 32 Old Slip in the Financial District
$3,500 per person
$2,999 per person for groups of 3 or more from the same family or company. Space is limited so register today.
RETHINKING SUCCESSION: YOU NEED MORE THAN THE NEXT CEO
Professor John A. Davis shares his breakthrough research on succession, including the new lens with which families should be approaching succession in a family enterprise system
For over thirty years, John Davis has served as an academic, advisor, writer and speaker in the family enterprise field. He is considered a leading authority on family enterprise and family wealth. He is Founder and Chairman of the Cambridge Institute for Family Enterprise, and Faculty Chair of the Families in Business program at Harvard Business School. He is author of Enduring Advantage: Collected Essays on Family Enterprise and co-author of Generation to Generation: Life Cycles of the Family Business, a preeminent work in the family enterprise field.
HOW TO DEVELOP YOUR FAMILY’S NEXT ENTREPRENEUR
Prof. Ernesto Poza addresses the important topic of developing entrepreneurs in families
Professor of Global Family Enterprise, Thunderbird School of Global Management Internationally recognized advisor and academic of family business Author of Governance in Family Enterprises (2014) and Family Business (2013)
FINANCIAL PARENTING FOR THE 21st CENTURY: HOW THOUGHT LEADER FAMILIES PREPARE NEXT GEN BENEFICIARIES
Joline Godfrey provides useful practices for parents to raise financial responsible children
CEO, Independent Means; Author of Raising Financially Fit Kids
A clinical social worker by training, at the beginning of her career, Godfrey was an executive of the Polaroid Corporation where she provided in-house family and therapeutic services to officers and employees. One of the first women in the nation to manage a spin-off from a Fortune 500 company, she launched Odysseum, a spin-off from Polaroid, and sold it in 1990. Odysseum was a creativity training company serving other Fortune 500 firms.
KEYNOTE FIRESIDE CHAT: REDEFINING MODERN-DAY LEADERSHIP: COMBINING BUSINESS STRATEGY AND SOCIAL IMPACT
3rd Generation CEO and Vice Chairman of The Cisneros Group of Companies President, Fundación Cisneros
Adriana Cisneros is the CEO and Vice Chairman of Cisneros, one of the largest privately held media, entertainment, ecommerce, real estate development, organizations in the world. Adriana is the granddaughter of the organization’s founder, Diego Cisneros, and the daughter of its Chairman, Gustavo Cisneros.
MY SUCCESSION STORY: THE UPS AND DOWNS OF TRANSITIONING LEADERSHIP TO MY GENERATION
Eduardo Sirotsky Melzer relays his own development and succession process that led to a smooth passing of the baton in his family business
3rd Generation CEO of Grupo RBS, a media group in Brazil
Eduardo Sirotsky Melzer is the CEO of Grupo RBS, a leading multimedia communications group in Brazil, with 6,500 employees. Melzer oversees a wide range of multimedia ventures comprising of newspapers, radio and TV stations in the states of Rio Grande do Sul and Santa Catarina, plus a digital business holding – e.Bricks Digital -, based in São Paulo, and an executive education unit – HSM -, which operates within the entire country of Brazil.
BREAKING THROUGH DYSFUNCTION IN AFFLUENT FAMILIES
Chairman, Founder & Clinical Director, The Recovery Centre
Robert Batt advises families and individuals on how to overcome unhealthy family dynamics and communication issues. Robert’s professional philosophy stems from many years of helping wealthy families with issues of addiction, eating disorders, anxiety and depression as well as extensive training in Addiction Psychology, Positive Psychology and Philosophy. His family has owned the same English Estate since 1620 and he is, therefore, ably equipped to understand the difficulties and conflicts that arise in wealthy families.
LESSONS FOR FUTURE BUSINESS LEADERS: HOW A 2nd GENERATION CEO GREW HIS FAMILY ENTERPRISE FROM $300 MILLION TO $5 BILLION
Roy Richards Jr. will share his experiences developing into a 2nd generation family CEO, growing the family company from $360 million to $5 billion in 20 years, and how he transitioned to a non-family CEO
Chairman, Southwire Company
Roy Richards, Jr. is board chairman and largest shareholder of privately held Southwire Company, North America’s largest producer of electrical power cable with 2013 turnover of US$5+billion. Richards joined the business full time in 1980 and in 1987 was elected Chairman and CEO where he served until December 2001. Under his leadership the company increased sales at a compounded annual rate of 9%.
TEXT THE MILLENNIAL GENERATION: HOW TO UNDERSTAND, REACH AND GROOM THEM
Visiting Scholar, Institute for the Study of Societal Issues, UC Berkeley
Currently, Jeremy Schulz is at the ISSI at UC Berkeley where he is conducting research on the ways young people map out their financial futures. His other research projects are geared towards understanding the social and economic trajectories of entrepreneurial individuals and families. Previously, he held an NSF postdoctoral fellowship at Cornell University’s Center for Economy and Society where his work explored stances towards personal finance among American youth.
DESIGNING YOUR FAMILY’S ROADMAP FOR READINESS: HOW ONE FAMILY IS PREPARING THE 4TH GENERATION
4th Generation Family Member, Education Committee Chair
Leah K. Hemeyer is a 4th generation member of a multigenerational business family in Colorado. Leah grew up attending retreats and programs designed by her family’s education committee and she now serves as chair of this committee. She is also involved in other aspects of her family. She is a board member on her family’s governing board and serves on other family committees. She has also completed an internship within the family office.
ENSURE YOUR FAMILY’S WEALTH WILL GROW IN THE NEXT GENERATION: DEVELOP “WEALTH CREATORS” TO MAKE SMART BETS
Florence Tsai, a Partner at Cambridge Advisors to Family Enterprise, focuses on next generation development, integrated financial planning for the family and business, and business strategy in the context of family strategic planning. She works with business families in the US, Latin America, and South East Asia on business leadership succession, family governance, family office, and business portfolio issues.