Family

Seven days, five Italian cities, six company visits, and more than a dozen engaging sessions—the “CAFE in Italy” Global Immersion course took 16 graduate students on a deep dive into the heart of Italian family enterprises. Led by Professor Gaia Marchisio, participants met with owners, next‐generation leaders, and seasoned advisors. Stops included Barilla, Petrolifera Italo Rumena (PIR), Ascoli Bottoni, Acetaia Giusti, Ferragamo, and Frescobaldi, as well as discussions with DeAgostini, Bocconi University, Association of Italian Family Businesses, and Fideuram Intesa Sanpaolo. Students gained behind‐the‐scenes insight on succession, brand evolution, governance, and family values. The result was a vivid illustration of how tradition and innovation can combine to keep family legacies thriving across centuries.

Advising enterprising families calls for more than just business savvy; it requires understanding trust, legacy, and emotion. While advisors are often skilled in governance and strategy, many overlook the “human architecture” that truly drives family enterprise success. Below, we explore how to bridge this critical gap.

At the 2025 Family Enterprise Conference, Nepotism & Nurturing: Challenging the Narrative, Stephan Meier—author of The Employee Advantage—moderated our panel of family CEOs with one central theme: employees are a strategic resource, not just a cost. Meier spotlighted how family enterprises can unlock innovation and loyalty by combining their signature relational strengths (like trust and tradition) with transparent, merit-­based HR practices that prevent favoritism and ensure non-­family employees thrive, too. It’s an approach that research in family business fully supports: tapping into caring cultures is a proven source of competitive edge—but only when balanced with structures that keep the door open to all.Learn more about The Employee Advantage

In anticipation of our February 21 conference, Nepotism & Nurturing: Challenging the Narrative, this month’s newsletter dives into the complexities of nepotism in family enterprises. As coauthor Constantin Lagios explains in Family First: An Integrative Conceptual Review of Nepotism in Organizations, nepotism—“the practice of giving preferential treatment based on kinship or familial ties”—can have profound effects on an organization’s legacy and sustainability. While it fosters trust and unity among family members, unchecked nepotism can undermine fairness and efficiency, even contributing to misconduct. This issue explores how families can navigate these challenges and strike the right balance between relational bonds and professional merit. Join us at our upcoming conference to learn practical strategies for creating equitable, high-performing family enterprises.Read "Family First: An Integrative Conceptual Review of Nepotism in Organizations"

As we close another year, the concept of legacy invites us to pause and reflect on the enduring impact of our actions and choices. Legacy, as explored in family enterprises, goes beyond financial inheritance. It encompasses values, decisions, and the footprints we leave for those who follow. This month, we consider legacy not just as a gift we bestow but as a lens through which we view our past, present, and future.Read "Legacy: The Meaning of Lasting Impact for Family, Business, and Beyond"Read "Leaving a Legacy: Intergenerational Allocations of Benefits and Burdens”

November, the month of giving thanks, inspired us to review the latest interdisciplinary research on the role of gratitude in families. Over time, multiple studies have shown that gratitude practices not only strengthen emotional bonds but also build resilience within families, enabling them to navigate challenges and adapt to change more effectively.Among the most recent articles on the topics, evidence highlights how gratitude improves individual well-being and enhances family dynamics and functioning. Read "Gratitude Improves Parents' Well-Being and Family Functioning" 

On October 1st, the Global Family Enterprise Program held its inaugural Owners' Day, a milestone event that brought together family enterprise leaders, students, alumni, and experts to explore the evolving role of ownership in today’s world. The event showcased the potential for family enterprises to not only drive economic success but to lead with values and create sustainable, positive change across industries, communities, and generations.

Our spotlight is on the latest groundbreaking work by Sheena Iyengar, the esteemed inaugural S.T. Lee Professor of Business in the Management Division at Columbia Business School, and a renowned authority on choice and decision-making. Her book is a beacon of inspiration for us all.

Jon Sebastiani ’12 took the audience through his journey joining his family’s businesses and expounded on some of the successes and challenges he faced. He shared practical relational advice for those thinking of joining their family’s business and what to look out for, as well as some career advice from his experience launching his own private equity fund after his family sold their business and he graduated from CBS.

Panelists discussed new challenges, from “cancel culture” to personal privacy, which businesses, and their people, must navigate in an inescapably interconnected world.