The book Enabling Next Generation Legacies is as a practical guide in which academic leaders, professors, and successful entrepreneurial families share their knowledge to answer 35 questions that deeply concern the next generation’s leaders of entrepreneurial families.
The contributing experts carry out this task with mastery and great effectiveness, by sharing their best practices in the field through real work-life experiences, as well as by incorporating relevant questions that invite the reader to learn through self-reflection and criticism.
Professor Cristina Cruz, among the panel of participating experts.
The IE Business School Families in Business professor Cristina Cruz contributed to the elaboration of this book as the author of one central chapter. More specifically, she was in charge of responding to the following question:
“Us sibling/cousin owners are living all over the world. How can we keep effective control of the non-family managers running the family business?”
Professor Cruz highlights the importance of active communication among family members when they find themselves dispersed in different geographical areas. In this context, this article details the roadmap for tackling these challenges by addressing three core tasks: to foster interaction between family members in the interest of strenghtening cohesion, to invest in the training and commitment of responsible owners present in the next generation, and to organize the family and the business based on a governance structure that allows owners to effectively supervise the family business when they are unable to be connected in the day to day management.