Future Family Enterprise: Sustaining Multigenerational Success

Future Family Enterprise: Sustaining Multigenerational Success

Item No. a056g00000URaa8AAD
Course Dates Format Location Duration Time Commitment Price
Apr 3–8, 2022 In Person Cambridge, Massachusetts 6 days 4-8 hours/day $40,000

Tracks

Management and Leadership

Certificate Credits

5.0 EEUs

Topics

- Family Enterprise

- Organizations & Leadership

Course Highlights:

  • Week-long in-person course on the MIT Sloan campus
  • Your family will learn practical concepts and tested practices—organized around examples of multigenerational success and failure—to aid your thinking, improve your long-term planning and alignment, and shape the roadmap of your family enterprise system
  • In addition to interactive classroom work and exchanges among families from around the world, your family will have daily, private, facilitated discussions with an experienced family enterprise advisor to focus on your interests and agenda
  • Each family team will leave the program with a tailored action plan built together over the course
  • You will earn a certificate of course completion from the MIT Sloan School of Management

 

Course snapshot:

 

Why attend Future Family Enterprise?:

Recent research indicates that most families that achieve financial success—typically through a family company—lose their success within three generations. Why do some family enterprises derail while others prosper?

The Future Family Enterprise program leads multigenerational families through a stimulating week-long conversation that produces clarity on the path ahead for each participating family and its enterprise. Your family will learn practical concepts and tested practices—organized around examples of multigenerational success and failure—to aid your thinking, improve your long-term planning and alignment, and shape the roadmap of your family enterprise system.

In this six-day program (Sunday afternoon to Friday at noon), faculty explore the opportunities, challenges, and future trends for owning, governing, and managing a family company and a broader family enterprise organization over multiple generations. Conversations and class sessions focus on the distinct issues faced by multigenerational families that have survived beyond the founder-stage. The program views the family enterprise through the lens of ownership, helping you to understand the important decisions that are yours to make as well as how to govern and plan for the longevity of your family’s enterprise activities.

 

Course experience:

In addition to interactive classroom work and exchanges among families from around the world, your family will have daily, private, facilitated discussions with an experienced family enterprise advisor to focus on your interests and agenda. Families should attend in teams spanning two or more generations. Each family team will leave the program with a tailored action plan built together over the course.

Important questions addressed include:

  • How is technology shaping industries and companies, and how must family-owned businesses adapt?
  • What are the emerging strategies for capitalizing, owning, and controlling family companies?
  • What are the trends in governance of multigenerational companies, family offices, ownership groups, families, and foundations?
  • How are families themselves modernizing and remaining united in this mobile, globalized world?
  • With Generation X assuming leadership roles, and the emergence of the Millennial Generation, how are succession planning and next generation talent development more complex today? How do families prepare for generational transitions in this fast-changing environment?
  • What are the latest strategies for steering and sustaining a complex, multigenerational family enterprise, with a growing number of family owners, for another generation or more?

The combined experience of faculty and participants produces deep understandings and even profound transformations for participating families. Your family will have conversations you never anticipated and will leave the program feeling closer and more aligned about your future as a result.

The program is specifically designed for family businesses that have moved beyond the founder stage to the second or third generation of ownership control, or later. It offers a rare opportunity to learn and exchange views with peers from around the globe who understand the complexities of family enterprise systems in later generations and share similar challenges and goals.

The Future Family Enterprise program is led by MIT Sloan Senior Lecturer John Davis, a pioneer in the family enterprise field and a globally recognized authority on family enterprise, family wealth, and the family office. Davis joined MIT Sloan after leading the family enterprise area at Harvard Business School for more than 20 years. He is an award-winning teacher and researcher and is the creator of some of the field’s most impactful conceptual frameworks. Davis is also Chairman of Cambridge Family Enterprise Group, a global advisory and research organization.

Learn more about the in-person course experience.


The MIT edge:
Working at the intersection of management and technology, MIT Sloan is uniquely positioned to support family enterprises by:

  • helping shape the present by applying cutting edge ownership, governance and management practices to the specific context of multigenerational family enterprises
  • helping seize the future of family enterprise that is being shaped by technological disruption, innovation, and societal changes

True to MIT’s Mens et Manus (mind and hand) learning philosophy, we use a variety of teaching methods to apply the learnings to real work in real time. Through interactive classroom modules, case discussions, exercises, small group work across families and facilitated private family coaching sessions, families are provided opportunities for transformative conversations, problem solving, roadmap building, and aligning on your key goals.

Participation in this program provides a connection to a dynamic and vibrant MIT community. The MIT campus and surrounding Kendall Square is one of the densest startup and innovation clusters in the world, providing the opportunity to experience an unparalleled entrepreneurial ecosystem.

 

Applying to the course:

Please note: The course price of $40,000 is for a team of four (no individual participants). It's $7,500 for each additional person beyond the 4-person team. This program is designed for family teams generally of four or more individuals. No single participants are admitted. 

Qualified candidates are admitted on a rolling, space-available basis, and space is limited. Early application is encouraged and will increase your chances of being accepted. As this course is scheduled to be held in person, please also allow for Visa processing times.

You can begin the application process by using the red Enroll Now bar at the bottom of the screen.

 

Have questions?:

Contact Us if you would like to speak with a program director or visit our Frequently Asked Questions page for answers to common questions about our courses.

 

COVID-19 policies:

See our on campus Covid-19 policies.

 

Upon successful completion of your course, you will earn a certificate of completion from the MIT Sloan School of Management. This course may also count toward MIT Sloan Executive Certificate requirements.

 

Through interactive lecture discussions, case discussions, exercises, exchanges across families, and private discussions within families, you and your family will better understand:

  • How families, family companies, and family enterprises predictably evolve over generations, particularly in later generations, and how they succeed in a disruptive environment
  • How to keep the family on the path of long-term success, strategically growing assets, maintaining family unity, and building family talent to achieve the family’s compelling mission
  • How to articulate your family’s mission and core values—including your social impact mission—and how to strengthen a growing family’s commitment to success
  • How to develop a smart strategy for aligning your family and ownership group, including deciding where the family’s “highest and best use” is within the family enterprise
  • How to manage transitions of leadership, ownership, governance, and wealth creation to the rising generations
  • How to develop the next generation for key roles in and out of the family enterprise, and which roles to delegate to a non-family team
  • How both generations view next generation talent development
  • Strategies for making decisions on portfolio of investments in and out of your family company and family office
  • How to decide among an array of ownership and capital options for your family company and other investments
  • How to govern the family, the ownership group, the family company, and other organizations in the family enterprise

 

I found this course highly effective! It could be because my daughter and my two sons joined me in it. The idea was to level the family understanding re what is needed to obtain sustainability in our business activities. My heirs have studied in outstanding american universities, but they graduated in very different fields. The result in a nutshell: our probabilities of obtaining a highly rentable and well structured business, increased substantially.

 

Sample Schedule—Subject to Change

The Future Family Enterprise program is a transformative experience for families that have moved beyond the founder stage to one where siblings or cousins own the family company (or the investments of the family). Some families may have sold their family company and now manage other assets.


This program is designed for family teams generally of four or more individuals. No single participants are admitted. Family teams allow participants to have crucial conversations together and collaborate on the long-term planning required at their stage. It also allows each team to take back to their family enterprise systems more of the concepts, practices, and understandings absorbed during the program. The greatest regret we hear from participants is that they wish they had brought more family members to partake in this unique experience together.


Participating families come from many countries and are involved in many industries. They typically have complex family enterprise systems: companies, financial assets and perhaps a family office, family philanthropic and community activities, plus a growing and increasingly complex family and ownership group. Each family in this program has achieved admirable success after the founder-generation and aims to continue their high performance as a family for another generation or more.


Participants include family members in and out of the family company or family office; owners and non-owners; board members; family council and owner council members; senior and next generation members; and lineal descendants and spouses. Teams can also include senior non-family executives or board members attending with family members. If you want to discuss the right composition for your family team, we are ready to help.

 

 

This program is a must for any family who wants the appropriate tools to own businesses together. The faculty, the location and the topics are world-class. The program is very complete and very helpful.

 

Course Dates Format Location Duration Time Commitment Price
Apr 3–8, 2022 In Person Cambridge, Massachusetts 6 days 4-8 hours/day $40,000

Tracks

Management and Leadership

Certificate Credits

5.0 EEUs

Topics

- Family Enterprise

- Organizations & Leadership

Enroll Now!

$40,000