f a m i l y b u s i n e s s e s a n d t h e n e w e c o...
TRANSCRIPT
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Far ida F . E l Agamy and Ramia M. E l Agamy KhanChi leday • 1 1 th September 2019
F A M I L Y B U S I N E S S E S A N D T H EN E W E C O N O M Y
O N T H E R O L E O F F A M I L Y W E A L T H A N D E N T E R P R I S E
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OUR FAMILY BUSINESS LEGACY
THE FAMILY
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1
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1991
2000
2002
2004
2006
2008
2010
2012
2014
2016
2019
OUR FAMILY BUSINESS LEGACY
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 2
1991
2000
2002
2004
2006
2008
2010
2012
2014
2016
2019
OUR FAMILY BUSINESS LEGACY
Ch i l ed ay • 11t h Sep t em b er 20 19 • 2
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CONTENT
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 3
T H E N E W E C O N O M Y – T H E A G E O F D A T A
T H E F A M I L Y B U S I N E S S I N T H E N E X T E C O N O M Y
F R O M F A M I L Y B U S I N E S S T O F A M I L Y O F F I C E
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W E L I V E I N A C O M P L E X W O R L D .T H E N E W E C O N O M Y I S H E R E .
I T I S T H E A G E O F D A T A .
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 4
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LAW OF ACCELERATING RETURNS
Our increasing ability to process data...Kurzweil’sLaw ofAcceleratingReturns
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Source: DOMOData Never Sleeps 6.02018
THE WORLD IN DATA
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THEIOT
An explosion of connected possibilities
Esecurityplanet.com Source: opentechdiary2017
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 7
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CONTENT
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 8
T H E N E W E C O N O M Y – T H E A G E O F D A T A
T H E F A M I L Y B U S I N E S S I N T H E N E X T E C O N O M Y
F R O M F A M I L Y B U S I N E S S T O F A M I L Y O F F I C E
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BIG CONSEQUENCES
DISRUPTED THINKING: From Causality to CorrelationsFrom Exactitude to Chaos
Example of Duolingo
DISRUPTED SOCIETY:
Privacy, Consumption
NetworksIoT
DISRUPTED INDUSTRIES:Historic Data Usage,
Sharing Economy, Big Data Companies
New Value System
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 9
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FORINDUSTRIESWE FACETHE DIGITAL VORTEX
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1 0
Source: DIGITAL VORTEX 2019, IMD and CISCO, 2019
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PRESSURES ON OUR BUSINESSES
EXTERNAL INTERNAL
ECONOMIC
ENVIRONMENTAL
SOCIAL
POLITICAL
DECISION-MAKING
WAR FOR TALENT
INNOVATION
DIGITALISATION
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1 1
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FAMILY BUSINESSES HAVE A HISTORY OF DISRUPTION AND INVENTION
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1 2
1873Blue Jeans
Levi Strauss & Co.Strauss Family
1913Moving Assembly Line
FordFord Family
1897Condensed Soup
Campbell Soup CompanyCampbell Family
1891Swiss Army Knife
VictorinoxElsner Family
1938Instant Coffee
NestléNestlé Family
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FAMILY BUSINESSES HAVE A HISTORY OF DISRUPTION AND INVENTION
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1 3
1956Ready-to-assemble Furniture
IkeaKamprad Family
1963Tetra BrikTetra Pak
Rausing Family
1962Zig Zag Fabric
MissoniMissoni Family
1958Instant Noodles
Nissin FoodsAndo Family
1969Glue Stick
HenkelHenkel Family
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FAMILY BUSINESSES HAVE A HISTORY OF DISRUPTION AND INVENTION
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1 4
1969Quartz Watch
SeikoHattori Family
1997Hybrid Vehicle
ToyotaToyota Family
1983Mobile Phone
MotorolaGalvin Family
1982CD’s
PhilipsPhilips Family
1998MP3 Player
Saehan GroupLee Family
2008Tata NanoTata MotorsTata Family
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CONTENT
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1 5
T H E N E W E C O N O M Y – T H E A G E O F D A T A
T H E F A M I L Y B U S I N E S S I N T H E N E X T E C O N O M Y
F R O M F A M I L Y B U S I N E S S T O F A M I L Y O F F I C E
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THE FAMILY BUSINESSES
IN THE NEW ECONOMY
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1 6
WHY WE FAIL
Preservation is not Growth
Impeding the Next Gen
Fixation on Reputation
Identity linked to core activity
Underestimating importance of
employer branding
WHY WE SUCCEED
Purpose-driven and embedded
Tacit intelligence of generations
Deep values and experience
Emotionally invested Next Gen
Strong Culture and Identity
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IT IS THE AGE OF FAMILY BUSINESSES
Family businesses in the next economy as
investors and investment
opportunities
Growth in purposeful family wealth
C h i l e d a y • 1 1 t h S e p t e m b e r 2 0 1 9 • 1 7
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T H A N K Y O U