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Industry webinar | Family businesses: the role of entrepreneurship and innovation in building resilience

Family businesses, one of the most persistent and common forms of business organization in the world, are often characterized by strong resilience. That is, the ability to persist in the face of substantial changes in the external business and economic environment, or the ability to withstand disruptions and catastrophic events.

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 will discuss 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.

Speakers

  • Mattias Nordqvist, Professor, SSE.
  • Jacob Wallenberg, Chairman of the Board, Investor AB.
  • Fredrik Spendrup, CEO, Spendrups.

The seminar will be moderated by SSE professor Sarah Jack. 

This webinar is 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.

House of Innovation Misum COVID-19 Entrepreneurship Family economics Governance Sustainability

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