To meet the unique needs of family-owned enterprises in China, HBS Executive Education is launching a new program—Leading and Transforming Family Businesses in China. Program faculty chair William C. Kirby, chairman of the Harvard China Fund and faculty chair of the Harvard Center Shanghai, joined us recently to talk about the launch of this exciting program that takes place over three modules on three continents.
We designed this new program to give participants the opportunity to study at three of the world's top universities—Peking University, University of Oxford, and Harvard University. The program is taught in three one-week modules in three different locations, and each module emphasizes certain aspects of the family business challenge. Key program themes are woven throughout the three modules to build on one another so that participants can expand their understanding of best practices.
The first module explores the features of a typical family business, the challenges that typically arise, and how successful family firms have addressed those issues. In the second module, we examine how to innovate across borders, both organizational and geographic; bolster the capacity for innovation; and build new market opportunities. The third module ties it all together—designing effective growth strategies, planning leadership succession, and sustaining growth through generational transitions.
As family businesses in Greater China reach new growth stages, they frequently find that the strategies that initially helped them drive profits and mitigate risk are no longer effective. To sustain success, these leaders must transform their family firms by strengthening governance, increasing innovation, and designing sound growth strategies. This means taking advantage of both local and global opportunities.
Yes. Through actual case studies of family businesses across the Greater China region and the globe, we explore the best practices of family-run firms—with the focus on strengthening Chinese family businesses. The program faculty has deep family business experience and expertise in the real world, and that's reflected across the comprehensive curriculum in each module. Participants have the rare opportunity to engage with the faculty of three distinguished universities and with fellow family business owners who face the same challenges.
During the program, participants will expand their ability to build competitive advantage, optimize organizational performance, execute smooth leadership transitions, create a stronger family business—and increase success for their family firm by recognizing its intrinsic advantages. In the process, they'll assess their company's strengths and weaknesses and consider plans for stabilization and growth. They'll leave Module 3 with a personal action plan in hand to help them guide their company into the future.
The participants! There is a quality of talent in China that is hard to match anywhere else in the world. Companies and firms that are highly innovative in the Chinese context are beginning to make global marks. Leading and Transforming Family Businesses in China is designed to help family business leaders in China transform their companies so that they can continue to create value and wealth—and prosper for generations to come.
