Entrepreneurship and resilience in tough times: lessons from leading family businesses - 19 January 2021
Crises such as the COVID-19 pandemic completely overturn the way of doing business and cause extreme uncertainty in many sectors and industries, e.g. air, travel, real estate, fashion and luxury, automotive, transport, agriculture, and food and beverage, amongst others. In times like these, the ability to be resilient is a must for both short- and long-term survival. So, what can companies and organizations learn from successful family businesses to improve their own resilience in tough times?
Based on current research at the SSE House of Innovation and on experiences from organizations that have endured multiple crises in their history, such as natural disasters, wars, regime changes and even previous pandemics, we discussed how family businesses build resilience by adopting key features (acceptance of reality, strong values, ability to improvise), leveraging advantages (long-term orientation, commitment, independence) and addressing challenges (dominant powers, conflicts and limits) and how this can be used and replicated by other types of organizations to bounce back after a crisis.
- Jacob Wallenberg, Chairman of the Board, Investor AB.
- Lovisa Hamrin, Owner and Chairman of the Board, Herenco Holding. Chairman, Hamrin Foundation.
- Fredrik Spendrup, CEO, Spendrups.
- Mattias Nordqvist, Professor, SSE.
The webinar was moderated by SSE professor Sarah Jack. It was organized in collaboration with the Mistra Center for Sustainable Markets and as part of the outreach program of the Jacob and Marcus Wallenberg Center for Innovative and Sustainable Business Development, and the Scania Center of Innovation and Operational Excellence, at the SSE House of Innovation.
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