Kellogg School of Management’s John L. Ward Center for Family Enterprises Highlights Importance of ‘Transformative Learning’ for Family Businesses

At the Global Family Business Summit, hosted today in Singapore by the Kellogg School of Management at Northwestern University, one of the leading research and teaching universities in the United States, experts from the Ward Center shared their research on family business trends and presented specific learning approaches to help family businesses protect and increase the value of their operations and build capacity over time.

As part of its commitment to continuously develop its teaching capacity, the Ward Center collaborates with external partners, such as the Tanoto Foundation, who share knowledge gleaned from decades of business which, in turn, contributes to research carried out by the Center.

Francesca Cornelli, Dean of the Kellogg School of Management, said, “As family businesses grow, they face different challenges than other types of businesses. Families must adapt to expansions and new challenges, sometimes in a short period of time. it is therefore important to consider new approaches to build capacity and ensure an effective transition between generations”.

“The Ward Center’s groundbreaking educational programs and research are a boon to family businesses in Asia and around the world, and I’m thrilled that we were able to bring together so many leading family business leaders in Singapore for these conversations. important,” she added.

Dr Matt Allen, Executive Director of the Ward Center for Family Enterprises, said: “In many cases, the next generation of family businesses will have seen their businesses evolve from a nascent stage into a large and complex present. That’s why we’ve introduced what we call ‘transformative learning’, in which we use innovative teaching methodologies to help students and their families rethink how they can work together for the future of their business “.

The Global Family Business Summit takes place against a backdrop of continued growth of family businesses, both globally and in Asia. A PwC study released last March showed that 71% of family businesses saw growth in their last financial year, while the number of Singapore-based family offices has increased exponentially in recent years.

Dr. J. Satrijo Tanudjojo, Global CEO of the Tanoto Foundation, said, “This dramatic growth in family businesses highlights the need for further study and research in this area. There is a growing need for education focused on family business strategies, governance and succession. to ensure the sustainable expansion of family businesses for future generations”.

In 2021, the Tanoto Foundation donated $10 million to Northwestern University, renaming the Center for Family Business at the Kellogg School of Management as the John L. Ward Center for Family Business, in honor of the Clinical Professor Emeritus John L. Ward, who served as co-director of the center for nearly two decades and was one of the first researchers to bring science to the service of the family business field.

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