How can tech-forward companies, institutions and non-profits stay
relevant long term in today's fast changing global economy? Written
for leaders seeking proven strategies, this book by a veteran
business advisor and leadership coach explains what large
organizations can learn from family enterprises, and vice versa.
When survival is threatened by disruption, or growth has stalled,
the book shows why seasoned leaders and rising leaders from both
family and non-family organizations should join forces for mutual
benefit of combining innovation and long term thinking. Florence
Tsai advances the field of family business studies with new
evolutionary models, organizational frameworks, and case studies of
dozens of leading family companies, including IBM, Corning, and New
York Times. The book addresses growing problems of
disruption-challenges best addressed by seasoned and rising leaders
working together, since they have complimentary skills. Seniors
bring stability and judgment, while rising leaders understand new
markets and introduces innovative ideas. The world's best family
enterprises are masters of survival; what they can learn from
non-family companies is how to stay nimble when change is
accelerating at rates never seen before. Non-family organizations
facing trust gaps can learn from successful family enterprises'
laser focus on stakeholder engagement. Families like Levi Strauss
or Hermes have built trusted brands for generations. Facing
disruption, Tsai explains how non-family organizations can insert
long term thinking into the DNA of your organization by observing
how enterprising families with enduring competitive advantages
accomplish it. Strategies include how to develop future-forward
mindsets supportive of innovation culture; how to nurture rising
leaders who are intrapreneurs, entrepreneurs, and portfolio
builders and prepare them to lead in their thirties. Phoenixes
rising are the next-generation leaders who lead their family
enterprise through intentional transformation in response to
inevitable changes and yield successful growth. The book describes
this mechanism in detail. Legendary Phoenixes profiled in this book
include Irenee du Pont in the U.S., whose tech innovation at
Eleutherian Mills transformed the gun powder industry; David Rene
de Rothschild in France, who rebuilt a banking business from
scratch; and John Elkann of Fiat in Italy, who led the Agnelli
family through a succession crisis to emerge stronger. Stories of
successful next generation innovators include John D. Rockefeller,
Jr. in the U.S., Cristina Stenbeck of AB Kinnevik in Sweden; and
Mikkel Vestergaard, inventor of LifeStraw, in Switzerland. With
insights drawn from more than a decade of working closely with
leading business families and advising the Chairmen and CEOs of
their companies, the author argues that if we want to be guided by
their long term success, it's the pioneer spirit of the family
leaders, plus the enterprising culture of the families themselves,
not so much their products or their famous companies, that we
should pay attention to. Written for the hackers and for the master
architects, Phoenix Rising spotlights principled wealth creation
and the shared value that comes from doing good while doing good
business, engaging partners and stakeholders sustainably, for the
lasting benefit of oneself and society.
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