<strong>How can family enterprises grow their philanthropic impact?</strong>

May 04, 2023 00:33:40
<strong>How can family enterprises grow their philanthropic impact?</strong>
The Family Business Voice
<strong>How can family enterprises grow their philanthropic impact?</strong>

May 04 2023 | 00:33:40

/

Show Notes

Traditionally, family enterprises focused their philanthropic efforts in the communities close to their operations, where they could generate the greatest impact. Today, there’s an abundance of worthy global causes all competing for their attention. To maximise their impact, families need to align on the issues important to them while also addressing the challenges of harmonising and orchestrating philanthropic strategies in a fast-changing world.

On this episode, Dr Malgorzata Smulowitz, Research Fellow, and Dr Peter Vogel, Professor of Family Business and Entrepreneurship at the IMD Global Family Business Center, discuss the findings in their study, “Navigating your family’s philanthropic future across generations”, and how it suggests a real need for families to transform, organise, and codify their philanthropic activities in a rapidly changing world.

- Considered a soft topic by many, secondary to the running of a company, philanthropy often emerges as a challenge for families, especially when philanthropic activities are an integral part of the family system. The emotion that drives charitable efforts makes uniting families around a common cause complex.

- The innovative and entrepreneurial spirit that drives the business activities of family firms can complement their philanthropic efforts, generating new opportunities and maximising the scale of their resources.

- Communication is key if families are going to align their philanthropic goals. The engagement itself can also be rewarding for family members, reshaping individual perceptions and testing rivalries. For next generation family members, finding a supporter respected within the family is often an important first step to initiating meaningful change in the family’s philanthropy program.

Listen and Subscribe on SpotifyApple PodcastsGoogle PodcastsStitcherTuneIn, Amazon and YouTube.

View the IMD study, “Navigating your family’s philanthropic future across generations”.

Other Episodes

Episode 0

September 24, 2019 00:19:15
Episode Cover

What Does it Mean to Live Your Business?

On this episode of the Family Business Voice, Jørgen Jørgensen talks with Ramia about the outdoor industry’s technological drivers, Norrøna’s award-winning retail strategy and...

Listen

Episode 0

July 16, 2019 00:25:54
Episode Cover

When is it Time to Reinvent your Brand?

On this episode of The Family Business Voice, Melinda Rossiter, Business Development Manager and fourth-generation family business member, talks to Ramia about Rossi Boots’...

Listen

Episode 0

March 15, 2022
Episode Cover

How Did This Family Transform a Passion for Peanuts into a Multigenerational Legacy?

On this episode of the Family Business Voice Ramia speaks with Marshall Rabil, third generation owner and Marketing Director of Hubs Peanuts. See the...

Listen