News

june 19, 2023

How can family businesses achieve generational continuity? Although there isn’t a magic formula that can preserve family relationships and ensure business longevity, planning for the five Cs can increase the likelihood of success. Dave Specht sits down with Baker Tilly’s Gary Plaster to discuss generational continuity and the five Cs framework.


The Drucker Difference

january 9, 2023

Your next career might not be with a large publicly traded company, but with a family-owned business. In this blog post, Dave Specht explains why you should consider working for a family business. He offers advice on how to find a job in a family business that is meaningful to you – especially since some of the best job opportunities are not publicly posted.


dairy

december 16, 2022

Family dairies that reflect upon their current status and future plans regarding cash, contingency, compensation, communication and conflict will be in a stronger position to succeed today and for future generations. To hear about how the five Cs of generational continuity apply to family dairy, click here.


Raising Children

december 13, 2022

Why do recent trends show that many children raised in affluence don’t reach their full potential? Perhaps in our quest to give our children everything, we aren’t providing some important life lessons. Larry J. Rybka (Valmark Financial Group) and Dave Specht discuss this idea and highlighted six strategies that parents can use in order to “raise children with batteries included.” Watch the first and second part of the interview.


Shared Dream Fallacy

december 7, 2022

For years, it’s been said that “the key to business continuity is a shared dream.” But is this true? In this article, James E. “Jay” Hughes, Jr. and Dave Specht explore this notion by identifying the stages of a dream and the five types of people we interact with when we talk about our dreams.


Union Bank

November 16, 2022

It takes courage to start a tough conversation with family members about the business or other sensitive topics. Listen to a panel discussion hosted by Union Bank featuring Dave Specht about how to successfully facilitate difficult family discussions.


Atlantic Union Bank

october 26, 2022

It goes without saying that business succession planning is a challenging process. In this webinar hosted by Atlantic Union Bank, Grey Merryman and Dave Specht talk about the five Cs of business succession planning to help you preserve your family relationships and perpetuate your business.


Summer 2022

There isn’t a magic recipe that guarantees the preservation of your family relationships and the perpetuation of your business. However, there are five key items that will enhance the likelihood of family business continuity. Find out what they are here.


Agribusiness

May 24, 2022

For many agribusiness owners, there comes a time when they must prepare for generational succession. Ultimately, success in succession planning is achieved when family relationships are maintained and there is business continuity across generations. Uncover the keys to preserving families and perpetuating farms and ranches here.


family purpose

march 16, 2022

In addition to fostering corporate purpose, family firms must also cultivate purpose among family members that are a part of the family business. Kendall Cotton Bronk summarizes The Family Purpose Project, a multinational study that explores the role of family purpose in well-established family enterprises. She delves into the importance of family purpose in helping families reach their business goals and serve the public good.


Work life balance

December 16, 2021

For people who are both parents and business owners, maintaining a work-life balance can be a complicated challenge. Take a minute out of your day to consider these four guidelines for leading a more balanced life. Give it a try here.


December 1, 2021

What are the three Cs of succession planning? Dave Specht explains the importance of the three Cs for achieving a successful family business transition.


Peter S. & Elizabeth Sealey

October 14, 2021

Drucker School alumnus Peter S. Sealey and his wife Elizabeth donate $1 million to the Global Family Business Institute. Their gift will establish the annual Dr. Peter S. Sealey, PhD Award in Family Business to recognize the exemplary contributions to business or society by a family business or a family business leader. Learn more here.


David Specht

May 5, 2021

David Specht is the new Director of the Drucker School Global Family Business Institute. Specht previously developed the Family Dynamics offering at Wells Fargo Private Bank; founded a consulting firm for multi-generational family companies; and served on the faculty at the University of Nebraska, where he established their family business program. Read more here.


Faculty Research

“Questions CEOs Are Asking of Their Own Leadership.” Effective Executive. December 2022.

Five Sisters and Two Executors: A Case Study.FFI Practitioner. January 19, 2021.


Videos

View our Managing the Family Business series, where we ask family business leaders questions about their experience in and takeaways from working in the family business.

  • Yosuke Honjo, President and CEO of Ito En North America Inc.

  • Jamie Richardson, VP of Government and Shareholder Relations at White Castle Systems Inc.