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Enabling the next generation to innovate family businesses

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Dr. Nadine Kammerlander is a Professor of Business at WHU – Otto Beisheim School of Management, one of the leading business schools in the world. She was previously a Consultant at Mckinsey & Company and Assistant Professor at the Center of Family Business at the University of St. Gallen, Switzerland. She has a master's degree in Physics from the Technical University of Munich and a Ph.D. in management from the Otto-Friedrich-University of Bamberg. Nadine is the Associate Editor of the Family Business Review and has received international recognition for her research. Nadine joins me today to discuss enabling the next generation to innovate family businesses. She reveals why family businesses experience different innovation dilemmas from corporations and the emotional hurdles in play. Nadine shares where family firms find funding for new ventures and innovation and discloses why perspectives have changed significantly in the last few years. She explains why not giving up control restricts the adoption of new technologies and why family businesses tend to introduce sustainable practices naturally. Nadine also shares why it is vital to enable digitization by bringing training to family firms.

"What is important now is that we continue to teach family businesses and to bring knowledge into the family business." - Dr. Nadine Kammerlander

 

This week on Innovation Talks:

  • Why the hurdles of radical innovation differ between corporates and family-run businesses
  • How the majority of worldwide firms are family businesses or have family influence
  • The specific hurdles for family manager owners
  • Where family-run companies can find funding for innovation and new start-ups
  • Why there has been a rapid change in outlook and perspective over the past two years
  • Why family business managers will need to give up control to adopt new technologies such as AI applications
  • Why next gens are less likely to continue the succession trend and what this means for family companies
  • What Nadine is working on now
Resources Mentioned: Connect with Dr. Nadine Kammerlander:

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