In the wake of the WannaCry cyber attack which infected 200,000 computers in 150 countries, family businesses are asking how they can best protect themselves.
In the wake of the WannaCry cyber attack which infected 200,000 computers in 150 countries, family businesses are asking how they can best protect themselves.
The Global Family Office Report found 15% of family offices admitted being victims of a cyber-security breach and most hacks resulted in resulted in losses of $50,000 or less. However, one case resulted in the loss of $10 million or more and industry commentators suspected the real number of family offices attacked was far greater.
In a world of global businesses, families increasingly view themselves as citizens of the world says Martyn C Gower. But what effect is this internationalisation having on different generations of the family, and on the business?
Martin C Gower is consultant to Lawrence Graham LLP.
In a world of global businesses, families increasingly view themselves as citizens of the world says Martyn C Gower. But what effect is this internationalisation having on different generations of the family, and on the business?
John Tucker is Director of the International Centre for Families in Business, University of Gloucestershire.
I am not an accountant or a solicitor. I do not deal with technical issues. I work with people, their fears, their dreams, their wants, their needs and their emotions. And, guess what, I have as many fears, dreams and and emotions as the clients I work with. The work I do as a family business consultant is up close and personal.
I often use music and poetry in my work with families in business together, and an example would be the Crosby, Stills, Nash and Young recording of Teach Your Children Well. But before explaining why I use this particular song I want to explore my experience of the ‘change’ phenomenon that seems to have swept across organisations.
John Tucker is a Grant Thornton Fellow in Family Business at the International Centre for Families in Business
I often use music and poetry in my work with families in business together, and an example would be the Crosby, Stills, Nash and Young recording of Teach Your Children Well. But before explaining why I use this particular song I want to explore my experience of the 'change' phenomenon that seems to have swept across organisations.
Family businesses have become the talk of the decade. Over 90% of businesses worldwide are family businesses, so we are told. Only 30% of family businesses make it through the second generation.
John Tucker is a Grant Thornton Fellow in Family Business at the International Centre for Families in Business.
Family businesses have become the talk of the decade. Over 90% of businesses worldwide are family businesses, so we are told. Only 30% of family businesses make it through the second generation. Less than 10% make it through the third. Who hasn't heard this overused and often misquoted statistic – or some other variation of it?
The young woman turned to the man sitting next to her in the restaurant during a break in a family business seminar and said: “You idiot! You’re going to make a mess of our recruitment like you did last time.”
Nigel Nicholson teaches organisational behaviour at London Business School, and is director of the Leadership in Family Business Research Initiative (LIFBRI). www.london.edu/family_business
