FromTheFBClub

From the INSEAD Family Business Club

The Family Business Club at INSEAD has been created to foster a community of students interested in Family Business. This includes students who have worked in family business or are interested to have their own family business or work with the family business.

The central idea is that the family business is often a unique organization that comes with its own benefits and challenges. One has to understand, appreciate and work hard to maintain the legacy of family businesses.

Latest News

On Wednesday October 5th the Family Business Club at INSEAD held a panel discussion guided by Professors Randel Carlock and Morten Bennedsen. The discussion centered on the strengths and weakness of family businesses as well as the dilemma between entering the family business and pursuing alternative career paths. The group furthermore explored the criteria and timing for joining the family business as well as a potential roadmap once joining. The discussion revealed diverse and interesting perspectives from various industry and cultural backgrounds on the challenges of entering the family business and the tradeoff between joining the family business right after an MBA and joining the family business at a much later stage. The meeting finally highlighted the importance of process and communication, the potential benefits from the guidance of external consultants as well as the financing options employed by family businesses as key aspects members wanting to join the family business should focus on.

On Tuesday October 11th the Family Business Club at INSEAD had the honour of welcoming Professor Bergfeld for a guest lecture attended by faculty and fellow students. Professor Marc-Michael Bergfeld is Professor of Entrepreneurship and International Family Firms at the Munich Business School. The talk drew from insights of Prof. Bergfeld's research on European Corporate dynasties and centred on the topic of entrepreneurship in family firms and the importance of conducting entrepreneurial activities outside the core business. The presentation also stressed the fact that for a family business to survive beyond the third generation there is need for focus on both established fields as well as incremental innovation by venturing into new fields and technologies.

How to get Involved if You Are a Family Business Member?

Feel free to attend any of the bi-annual "Family Enterprise Days" at INSEAD (upcoming dates for them are the 11th of June 2011 and 3rd of December 2011 in Fontainebleau) where MBA students and family business members from all over the world get to interact and exchange their views on values, entrepreneurial spirit and long-term family strategies for sustainability.

Also do get in touch with the current MBA Family Business Club members to see if you would like to contribute to their activities by offering to talk, become an "entrepreneur in residence" for a day or two to share your experiences, or suggest a field trip to your family business.

INSEAD Family Enterprise acts like a platform of knowledge and information for families in business. You are highly encouraged to use the INSEAD family enterprise platform! Feel free to join our Club as a life-long student or mentor and become a part of the first-rate educational experience we offer for members and employees of family businesses around the world.

The Entrepreneur-in-Residence Programme

INSEAD Entrepreneurs-in-Residence (EiR) are experienced and successful entrepreneurs who volunteer their time on campus (in either Fontainebleau or Singapore) to mentor INSEAD MBA students.

The Entrepreneur-in-Residence programme is run by the Rudolf and Valeria Maag International Centre for Entrepreneurship.

INSEAD students often actively work in ventures while pursuing their studies. These ventures may be startups, growth companies, family enterprises, turnarounds, or buyouts.

The EiR programme gives current students access to experts who can help them refine questions, provide insight and solve problems.

EiRs typically commit to spending at least one day on campus per period. EiR sessions are generally 45 minutes long. An email is sent via general distribution a few days before an EiR is scheduled on campus. Students can then request an appointment with the EiR.

This programme is also run with Family Business members or Social Entrepreneurs in Residence for those students interested in family business or in beginning or learning more about social ventures.

Visit the EiR website

Read the first issue of the INSEAD Alumni Newsletter

We are looking for all kinds of support from the Family Business Community at INSEAD to take this Club forward.

Please do contact us if you would like to help: Club.NewFamilyBusiness@insead.edu