A new challenge
Q3
Continuing with business as usual is not a viable option, considering the multitude of global challenges we face. This necessitates the alignment of business as well as investment models and a conscious effort to make a positive contribution. How does this new generation tackle this challenge?
Addressing the challenge of deviating from conventional business practices, especially in light of the myriad of global challenges, depends on various factors. For instance, in the case, where wealth derives from a family company, it depends on whether the original operating company remains active, the extent to which individuals identify with it, and whether such alignment conflicts with their personal beliefs. Additionally, the degree of influence wielded over the business plays a crucial role-whether one is steering the company's agenda or not.
Next-generation individuals may choose to carve out their own path, which is different from the legacy of existing operations. This decision is influenced by the opportunity to introduce innovative approaches. They may ponder questions such as, "How can we align our actions with tangible impact? How can we overhaul our core business activities, business models, and supply chains to foster positive change? How can we readjust our investment strategies to align with real impact? Moreover, how can we leverage our reputation for advocacy in the public sector?" These considerations may lead the next generation to establish entities or initiatives in a manner that deviates from conventional setups.
Q4
In 2020, you published a book called the "Family Philanthropy Navigator" and you just released the "Family Office Navigator." What motivated you to do so, and what are your key takeaways?
In our interactions with families and the next generation we've observed a common lack of collective reflection, particularly in defining their goals and greater purpose. To address this, we've created frameworks to guide families in philanthropy and family office activities. The challenge lies in striking a balance between the individual ("I") and the collective ("we" as a family). Our main goal is to improve their organization by balancing individual and collective perspectives. We aim to empower families to engage in meaningful conversations, establish strategies, and maintain control of their trajectory. By encouraging them to question their desires collectively, define agendas, and take actionable steps, we strive to prevent external influences. Additionally, we explore the relationship between family offices and philanthropy, defining the family office's role in giving. Our motivation is to raise awareness about broader possibilities for family and wealth owners, urging them to strategize for a more extensive impact and break free from conventional boundaries to create meaningful influence across various spheres.
How did philanthropy develop?
How did philanthropy develop?
