Family Business Education – who needs it!

Trade associations like Hardware Association Ireland are well-known for the educational opportunities they provide their membership. A quick review of The Hardware Journal confirms that it has covered many relevant issues from a variety of perspectives since its founding in 2012.

There is, however, one aspect of professional education that is not often specifically addressed by trade association publications. And that is the importance of learning more about how the families that own the companies function and what are the issues confronting multi-generational family enterprises.

With 50-90% of the world’s economy being driven by family-owned business, knowing more about the challenges the family faces can be as important as knowing the key issues of the industry itself. This is hardly news since families have been in business for most of recorded history. What has changed is in the last 30 years is that there is now a distinct field of knowledge and practice for owners, advisors, and researchers in the family enterprise field.

And here is where the Family Firm Institute (FFI) and its Global Education Network (GEN) can be useful.

Brief History of FFI (www.ffi.org)

Founded in 1986, the Family Firm Institute is driven by its mission to be the most influential global network of thought leaders in the family enterprise field. For more than thirty years, FFI has been engaged in educating, connecting, and inspiring the field of family enterprise, regardless of profession, industry, or geography. It has done this through research, public awareness, and education.

GEN (Global Education Network) Certificate program

The FFI Global Education Network (GEN) is the most trusted and globally recognised provider of family enterprise professional education in the world. Through unparalleled interaction with the internationally renowned faculty, thought leaders, and a global network of other specialists, FFI GEN students hone their thinking and develop their skills to better serve their clients, their businesses, and further the field of family enterprise. FFI GEN
Certificates in Family Business Advising, and Family Wealth Advising are the product of more than 30 years of practice and research in the field.

Here are some key features.

• Access 24/7
Upon enrolling, students get immediate access to curated content and resources, along with a global network of fellow students and faculty. FFI GEN courses have been designed for busy professionals to allow you to work through the program at your own pace over a one-year period.

• Next Generation of Online Learning
FFI GEN’s revolutionary online learning environment is different from the traditional “talking-heads” model of online courses. Course webinars feature live classroom discussions allowing you to see, interact with, and learn  from both the instructors and peers from across the globe. The core certificate consists of three online courses with curated required reading and quizzes. They conclude with a three-hour capstone online webinar.

• Connect to a Powerful Network
Beyond the outstanding course curriculum taught by luminaries in the family enterprise field, FFI GEN Certificate Program participants can elect to be paired with a professional mentor, attend FFI signature events, and
benefit from FFI membership and more.

And then… there’s Boston in October!
But… if you can’t enroll in the GEN program — or especially if you can — please come to Boston in October to join in the 2022 conference “Family Enterprise and the Fourth Economy: Internal and External Pressures to Change and Adapt.” More information and registration details are at www.ffi.org.

Testimonial from Stan Buckley, Managing Director, FSW Coatings Ltd –
As a non family member, I have worked in family businesses for the last forty years and have always wanted to understand the different dynamics at play between business, family, and ownership. Most of the courses offered could only be undertaken when accompanied by family members as a group. In 2019, I enrolled with the FFI on the Advanced Certificate in Family Business Advising course. This course is suitable for family members and non-family executives. The course is mostly virtual, with attendance at an annual seminar session. The content is very practical and supported by a vast data base of articles and great lecturers and teaching aids. It is an excellent route to understanding a Family Business.

Judy Green – Family Firm Institute – www.ffi.org

This Business Support article featured in the January/February 2022 issue of The Hardware Journal.