Sloan Alum Talks Perks and Perils of Family Biz
Crane Currency CEO Stephen DeFalco, SB ’83, SM ’88, recently spoke at the MIT Sloan Family Business Club about the perks and perils of joining yours or any family-run business.
3 Tips to Achieve Smooth Family Business Succession
Two thirds of all private sector firms in the UK are family businesses. In fact, family businesses make up over half of the UK GDP and 40% of private sector employment. Unfortunately, less than half of those companies continue past the first generation. That’s why Dr. Steffi Hussels, a Senior Lecturer in Entrepreneurship at the Cranfield School of Management, decided to discuss family business success in a recent article. Continue reading…
Should You Get Your MBA if You Work for a Family Business?
If you’re a member of a family business, you may have grappled with the idea of going back to school for your MBA. It can be a particularly difficult decision when you are forced to weigh the costs and benefits. At the end of the day, before you make your decision you need to answer a simple question: will the MBA program that you’re considering provide you with practical and useful advice that can be directly applied to the betterment of your family business? Continue reading…
D’Amore-McKim Holds Ninth Annual Family Business Awards
The D’Amore-McKim School of Business held the ninth annual Family Business Awards June 10. The Family Business Awards is a showcase for local multi-generational family businesses. The event was organized by the D’Amore-McKim’s Center for Family Business. More than 125 family business owners, representatives and researchers gathered at Northeastern University’s Fenway Center for the awards event.
During the showcase, several business were honored for successfully passing the business from one generation to the next. The event also awarded businesses in three different size categories. The first place winner in the small-size company category, fewer than 25 employees, was Belmont Car Wash & Detailing. First place in the medium-size company category, 25-to-100 employees was Stop and Compare Supermarkets. Interstate Electrical Services was awarded first place among large-size business, more than 100 full-time employees.
