Initiative is part of sustained engagement towards global
economic stability
MONTREAL, April 16, 2019 /PRNewswire/ -- Business Families
Foundation (BFF) has reinvigorated its drive to embed a culture of
learning among enterprising families through an overhauled user
portal and revamped program of family business courses.
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The push is part of BFF's wider goal of sustained engagement of
family firms, whom the foundation sees as an antidote to commercial
short-termism and enablers of economic stability.
Family-controlled firms make up 80-90% of businesses worldwide
and are major drivers of GDP and employment.
Montreal-based BFF spent months
overhauling a diverse offering of business courses, case studies,
events, as well as a repository of more than 1,400 videos and
interactive learning tools aimed at enterprising families,
universities and advisors.
Drivers of GDP
The launch comes at time when family
enterprises have gained hard-fought recognition for their economic
impact and job-creation value. The world's 500 largest family-owned
businesses account for a combined $6.5
trillion in revenue. Yet fewer than a third survive the
transition from first generation to second. Roughly 13% of family
businesses make it to the third generation.
BFF aims to reverse that trend though its three-pronged approach
to learning. In doing so, families are invited to "relate" among
peers, "understand" through sophisticated learning techniques and
"apply" what they learn in their enterprises.
"The relate-understand-apply model is our key philosophy and
forms our core beliefs," says BFF President Olivier de Richoufftz.
"We firmly believe that in helping families build their learning
cultures and identify their learning champions we are unleashing
the fundamental elements that enable enterprises to grow and help
economies thrive."
Lifelong learning paths
BFF's learning community are
invited to "relate" through eight distinct themes, for example
"achieving generational purpose", a perennial family firm
challenge, and "improving impact" in which philanthropically-minded
families can develop socially responsible businesses.
"Any family enterprise can take part in our global network and
we encourage that," says BFF Chair Margaret-Jean Mannix. "We know what it takes to
thrive, but we want families themselves to share their own
experiences and contribute towards a deeper collective
understanding of the keys to enhanced family enterprise
longevity."
BFF is renewing its focus on blended learning, a form of online
and in-person instruction, while enhanced immersive learning tools
will be delivered by the foundation's university partners.
Additionally, BFF is preparing a 2019 launch of Family Forward,
a web-based assessment tool that helps business families pinpoint
their weak points and act on them through special training.
BFF has updated five key courses, some of which focus on women's
roles, intrapreneurship, ownership and governance, and is on track
to unveil two all-new courses – Financial Management for the Rising
Generation and Active Philanthropy – later this year.
"Our portal is an essential toolkit for business families, for
their chief learning officers and thought-leaders who value
lifelong learning, and who put into practice the long-term
approaches to business for which family enterprises are renowned,"
says de Richoufftz.
About Business Families Foundation:
Business Families
Foundation is a not-for-profit educational organization which,
through its global partner network of entrepreneurial families,
universities and family enterprise advisors, promotes the success
and longevity of family businesses through the delivery of
specialized courses, events, proprietary research and interactive
learning media.
Related links:
businessfamilies.com
For further information: Scott McCulloch, Senior Communications
Consultant, Business Families Foundation, Tel: +1 514 983-9744,
Email: scottsmcculloch@yahoo.co.uk