Each family business springs forth from a cultural tradition that expresses the values, thinking, and behaviors of its homeland. In recent decades, affluent business families also encounter outside cultures as they travel, establish international residences, and especially, send children to other countries for education and work experience. The younger generation absorbs the ways of foreign cultures, with an inevitable desire to introduce these to the family at home. Older generations – unhappy with new ideas straying too far from traditional ways – may in turn respond skeptically. In this session we will discuss how cross-cultural pressures within business families require their own form of negotiation and compromise.

Join Senior Research Fellow at Banyan Global, Dennis Jaffe, renowned for his expertise in family business governance and cultural dynamics, and Hans Latta, Senior Family Business Advisor with personal experience in a fourth-generation family business and an MBA from Harvard Business School. They will share their expertise in navigating complex cultural and business landscapes for family businesses to thrive globally.

The session will allocate time for members to ask questions and share learnings and challenges from their personal journeys.

Key Topics covered in the session will include:

The three Major Global Cultures.
Specific cross-cultural challenges that Middle Eastern and Asian business families face.
Best practices for how business families can navigate and harmonize cross-cultural pressures.