The future of enterprise families: how do we prepare the rising generations?
Author: Carole Matthijsse
Family businesses exert considerable influence on society: they contribute to economic growth and employment, are innovative and creative, and often engage in philanthropy. The significant responsibilities associated with this, rest on the shoulders of future generations within the family. How do you prepare someone to maintain business success within this complex context? VU Alumnus and special professor Maarten de Groot offers insight.
Maarten de Groot was recently appointed to Endowed Professor of Resilient Family Business and Enterprise Families at VU School of Business and Economics. De Groot is founder and director of the VU Center for Enterprise Family Research (CEFR) and director of the Responsible Ownership for Enterprise Families (ROEF) Executive Education programme at the VU, in collaboration with the American Family Office Exchange.
Impact From an academic perspective, relatively little is known about enterprise families. “This is surprising, since they have such a major impact on our society,” says De Groot: “The rising generation plays a key role in helping enterprise families move forward. They share a responsibility not only to themselves, but also to their families, their companies, the people, and the world. It is challenging to responsibly share ownership of the family business, and it is complex to thrive across generations.”
“We have learned that it is difficult for enterprise families to be successful shared owners for multiple generations. It is of great importance to equip rising generation family members with the right knowledge, skills, and connections to be and remain successful.” – Maarten de Groot
Self-reflection, growth and action In the dynamic landscape of family businesses, preparing the rising generation requires more than just traditional education. It requires an environment where critical thinking, independent exploration and social awareness thrive, and emerging generations are equipped with the right knowledge, skills and connections to be successful. At the heart of the Responsible Ownership for Enterprise Families (ROEF) programme lies a commitment to nurturing free thinkers; individuals who challenge conventions, embrace diversity of thought, and seek innovative solutions to complex issues. De Groot explains: “In the programme, we cultivate an environment where participants are encouraged to question assumptions, explore different perspectives, and think independently. Participants have a unique opportunity to benefit from highly experienced faculty members and practitioners, and to connect with like-minded people.”
Through this extensive learning experience with workshops, case studies, assessments, projects, simulations, leading guest speakers, networking activities, interactive sessions, stimulating discussions and practical exercises, participants are challenged to develop a critical mindset. The programme provides competitive insights and helps participants become more involved owners or leaders in their family business, family foundation or family office. De Groot: “Combining critical thinking with a moral compass and social involvement is an ongoing process of self-reflection, growth and action”.
Social awareness Participants are encouraged to reflect on the ethical implications of their decisions and the broader impact on society in addition to intellectual discussions. Through case studies, role-play scenarios and ethical dilemmas, they are challenged to understand complex issues with integrity and empathy. A participant of the ROEF programme says: “The faculty brings in-depth practical experience, which enriches our learning process. Their expertise is an invaluable resource that I gratefully use. ROEF has given me a deeper appreciation for the complexity and potential of businesses, allowing me to identify areas for personal growth and professional development.”
In addition, social awareness is a fundamental aspect of free thinking within the programme. “We recognise the interconnectedness of business, society and the environment, and we strive to promote a sense of social consciousness among participants.” Participants are encouraged to consider the wider implications of their actions and make valuable contributions to the world around them. Whether addressing environmental threats, promoting diversity and inclusion, or advocating for social justice; the programme provides tools to create positive change in their communities and beyond.
“It's about challenging the status quo, embracing diversity, and taking responsibility for the world we live in. As we navigate the complexities of family businesses, we are committed to fostering a community of free thinkers equipped not only with the knowledge, skills, and right connections to succeed, but also with the moral compass and social consciousness to make a difference in the world.” – Maarten de Groot
A parent of a ROEF Academy participant explains: “At home and in the (family) business, our conversations are now much deeper and more insightful. Already halfway through the ROEF programme we could see great progress and development. For example, they themselves organised meetings on governance practices and ownership strategies, involving their brothers and sisters who could not yet participate in the ROEF programme this year.” It forms a vibrant ecosystem where free thought is encouraged, moral values are respected, and social awareness is valued. De Groot emphasizes: “We address the unique challenges of successful enterprise families. It is an innovative, world-class programme aimed at making participants more successful, impactful, and inspiring members of enterprise families than they ever thought possible.”
“Combining critical thinking with a moral compass and social involvement is an ongoing process of self-reflection, growth and action.”
Maarten de Groot is Endowed Professor at the VU and received his PhD in 2021 with his thesis Cracking the Code on Wealth Preservation: It is Not About Money. He brings his background as an entrepreneur, philanthropist, board member and advisor to enterprise families, their businesses, and charitable organisations. In 2020 he was knighted in the Order of Orange-Nassau for his contributions to society.
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