Family Business – Responsible Ownership Responsible Leadership
Business Networking and Continuous Learning at the Czech and Slovak IMD Alumni Club
IMD is an independent business school, based in Lausanne, Switzerland and among others ranked #1 in the world for Open executive programs and in the top three overall for executive education.
The Czech and Slovak IMD Alumni Club (https://www.imd.org/alumni/clubs/czech-slovak/home/) has organized recently in cooperation with HST Chamber of Commerce Switzerland – Czech Republic two very interesting events focused on business learning and networking. The Club feels privileged to have opportunities to host the world top class professors.
Denise H. Kenyon-Rouvinez, the Wild Group Professor of Family Business, Family Office, Governance and Director of the IMD Global Family Business Center at IMD guided the first event of 2019 focused on
Responsible Ownership Responsible Leadership
What we can learn from Family Business
Top managers (both Czech and foreign) of several leading companies doing business in the Czech Republic spent a very inspiring time hearing a short presentation, working in groups to develop the topic and discussing examples, considering pros and cons with the professor and the group.
For many years, there has been a perceived clash of values in business practice, between the quest for an ethical and sustainable business model, against the more conventional emphasis upon maximizing financial returns to shareholders. However, recent research reveals that some of the most sustainable and ethical approaches to business turn out to be successful in commercial terms. Conversely, sometimes a quest for maximizing short-term returns ends in scandal and/or bankruptcy. There is overwhelming evidence that a short-term business culture, guided predominantly by financial indicators with a bias towards maximizing profit and growth, is failing.
Business owners, seated at the top of the organization and having concentrated ownership, they have the power and the responsibility of purpose and decisions. They can impose their vision and empower the whole organization to work toward a common, responsible direction to achieve radical change. Principles like integrity, respect, fairness stewardship, emotional ownership and sometimes investing with patient capital are most common for achieving long lasting sustainability in their business.
Should you have ideas to share or discuss or issues to be solved do not hesitate to get in touch with our team headed by Mr. Luboš Nentvich, who is a member of the Czech IMD Alumni Club management.