Esade and Andbank create the Chair of Family-owned Enterprises to boost their development and survival over the generations
Esade and Andbank have created the Chair of Family-Owned Enterprises (CFOE). This pioneering partnership with a global outlook aims to promote research, development and knowledge sharing in addition to the comprehensive training of members of family firms as regards the management of the firms themselves and also their family offices, including the governance and management of the family/firm relationship, family wealth management, and safeguarding their identity and common purpose. Created initially for five years, this undertaking will address the recurring challenges facing family firms, whilst equipping them with the tools and strategies necessary to tackle these challenges successfully.
“Family firms are essential not just as sources of employment but also as agents of change in the realm of economic and social policy. Because they are affected less by short-term corporate dynamics, they can invest in innovative, sustainable projects, provide support for entrepreneurship and take part in global forums to address complex problems. Their influence can shape a fairer, more inclusive future,” said María José Parada, head of the Chair of Family-Owned Enterprises, professor in the Esade Department of Strategy and General Management, and researcher at the Esade Entrepreneurship Institute.
“Despite a constantly changing global landscape, family firms remain the mainstay of the economy. They are crucial for community development and their long-term survival is essential,” explained Carlos Aso, Andbank Group CEO.
Nely Mayoral, global director of the Family Office Unit in the Andbank Group, is convinced that “this partnership will allow family firms to access specific knowledge, best practices and trends in business and family wealth management, whilst acting as a place to meet and forge links with other family groups.”
Long-term vision
Family firms are the cornerstone of growth and economic stability in many countries because they usually operate with a long-term vision enabling them to create quality jobs and contribute to local development. Such companies, which account for a high percentage of the world’s business fabric, provide more than 70% of jobs in many economies, and have consolidated themselves as foundations of social and economic well-being: in Spain, 9 out of every 10 companies are family firms. Driven by a vocation for service, these companies seek to safeguard the well-being of future generations and strengthen social links within the communities where they operate.
This Chair was established with a view to creating a space for dialogue and sharing knowledge between academia and family firms. In this respect, the scheduled events aim to generate and share knowledge, provide on-going training and critical thinking about this issue, and forge links enabling the real, current and future needs of participants to be addressed. This space will not only facilitate the transfer of knowledge but also foster links enabling members to be agents of change that make a positive impact on their communities, industries and landscape in general.
Since its inception, Esade has maintained close contact with the world of family business and has produced several programs focused on family firm management. This track record has led to the creation of the Chair of Family-Owned Enterprises, within the framework of the Global Business Family Initiative research group at the Esade Entrepreneurship Institute. The Chair, the result of a desire to create knowledge together with the Andbank Group, consolidates Esade’s commitment to academic development and research in family-firm management. The Andbank Group, a third-generation, family-owned enterprise remains determined to contribute to the development of knowledge related to family businesses, not only because it is a family business itself but also because it acts as an advisor to such firms.
