In this episode of the LGA Lighthouse podcast, host Tim Yeung sits down with LGA's Founding Partner Ivan Lansberg and Managing Partner Devin DeCiantis to discuss their book, The Enduring Enterprise: How Family Businesses Thrive in Turbulent Conditions. They explore how family businesses can navigate the increasing turbulence and uncertainty in today's world. The discussion highlights three key takeaways for building resilience: 1- Move from "Just in Time" to "Just in Case": In a stable world, efficiency and "just-in-time" systems were key. However, in today's volatile environment—what the authors call a "dancing landscape"—resilience requires "just-in-case" strategies. Investing in internal stability and redundancy, like a spare tire, is crucial for survival, even if it comes at the cost of short-term efficiency. 2- Embrace Adversity and Stress-Test Your Organization: In stable, prosperous societies, both individuals and organizations can become complacent, losing the know-how to handle crises. Just as the immune system needs exposure to germs to build strength, family businesses must intentionally expose the next generation to real-world challenges. This includes requiring outside work experience, supporting entrepreneurial ventures, and giving them real jobs with real accountability. Organizations can also stress-test their operations by simulating crises, like the loss of a key supplier or a sudden change in interest rates. 3- Leverage Familial Networks and Trust: The world is experiencing a decline in trust. Family enterprises, with their natural networks of trust and reciprocal altruism, have a unique competitive advantage. These familial networks allow them to access capital, talent, and opportunities that are not available to others, particularly in low-trust frontier economies. Family businesses are uniquely positioned to serve as a beacon, rebuilding trust in a fragmented world.
In this episode of LGA Lighthouse, Venezuelan journalist and former Executive Director of the World Bank, Moises Naim, joins LGA's founding partner, Ivan Lansberg, to talk about how family firms can mitigate the impact of political polarization.
In this episode, Family Enterprise Coach and Advisor Sharon Duguid and Executive Coach and Clinical Psychologist Wendy Ulaszek discuss the benefits, techniques and challenges of coaching and mentoring in family businesses.
In this episode, Ivan Lansberg and Devin DeCiantis from LGA, discuss how family businesses can use systemic solutions to tackle issues around succession.
In this episode, Devin Deciantis and LGA Governance Design and Succession Planning Specialist Nicolas Hollanders discuss the importance of engaging the next generation so that they become responsible and proficient future owners.
In this episode, LGA's Ashley Blanchard discusses the role of philanthropy in the family business and how it's changed and adapted in recent times.
In this episode, Ivan Lansberg and Devin DeCiantis discuss education in the context of continuity with guest speaker Jennifer Pendergast from the Kellogg School fo Management.
In this episode, Devin DeCiantis of LGA and Sam Bonsey, Executive Director of The ImPact, discuss the role of responsible capitalism in family business and how it can be promoted.
In this episode, Ivan Lansberg and Fernanda Jaramillo of LGA discuss how to develop a shared vision in a family business and why it is so crucial for continuity.
In this episode of LGA Lighthouse, Chris Robichaud and Devin DeCiantis talk about how simulations can support continuity.
In this episode, LGA's Dr Katherine Grady and Dr Wendy Ulaszek discuss Family Owners Councils and their importance supporting family business continuity.
In this episode of LGA Lighthouse, Devin DeCiantis describes four strategies that family business leaders can use to navigate a crisis.
In this inaugural episode of LGA Lighthouse, Ivan Lansberg and Devin DeCiantis discuss LGA's decision to launch a podcast.