Family Business Navigating Global Crisis
Family business makes up an important part of the global economy. Due to the involvement of three overlapping elements (i.e., family, business, and ownership), family business is different from other types of organizations. While some family businesses struggle to survive into the third generation, others tend to perform well over time compared to their corporate counterparts.
As humanity copes with the effects of the current COVID-19 crisis, family businesses may be able to play an important role in helping both businesses and consumers in navigating through the many market and technological uncertainties that this crisis has created, and no doubt will further create in the future. Yet, we know very little about that role. The purpose of this webinar is to develop a deeper understanding of that role so that thoughtful managers and policy-makers can develop more forceful responses to the new challenges they are now facing due to the coronavirus pandemic.
The webinar will address the following:
- The unique features of family businesses that provide advantages for them to respond to the COVID-19 crisis;
- The challenges family businesses face and how they can convert these challenges into business opportunities during and in the post-pandemic world;
- The role of organizational and national culture in shaping the effectiveness of these response strategies.
Dr. Qian Cecilia Gu, Georgia State University
Francesca Sanguineti, University of Pavia
Dr. Attila Yaprak, Wayne State University