BY PROF. ENRIQUE SORIANO
AS 2024 came to a close recently, families across the world gathered in celebration, reflecting on their shared history and looking ahead with hope.
For family enterprises, it was a season of renewal — a time to recommit to shared purpose and values, and to embrace the inspiring challenge of preserving their legacy for generations to come.
A century of sustained family enterprise — what many would consider an extraordinary achievement — demands vision, discipline, and an unwavering commitment to invest in talent, adaptability and change.
In my work in Asia, I have come to recognize an important truth: enduring family enterprises prioritize the quality of their relationships and governance structures over mere business and financial considerations. Their ability to navigate transitions and challenges stems from deeply rooted values, institutionalized practices, and a collective will to succeed together—not just as a business, but as a unified family.
To sustain this momentum, I have consistently guided these families through key initiatives:
Investing in the Next Generation
To carry the family legacy forward, a profound investment must be made in the next generation. This goes beyond formal education and encompasses a deep appreciation for the founder’s struggles — the adversity and sacrifices that shaped the business. By sharing stories of perseverance and triumph, families instill a sense of stewardship and respect for what has been built.
Last December, my team facilitated a weekend retreat in Singapore where third-generation family members explored the transformative power of shared values such as respect, accountability, teamwork, family unity, and meritocracy. We also addressed the dangers of entitlement, highlighting examples from my work mentoring successful successions across Asia. Witnessing young family members embrace their role as stewards was a testament to the value of such initiatives. Credit goes to the founder and second-generation parents for setting the stage. The key to success lies in sustaining this momentum, as transformation requires patience, commitment, and determination.
Structured programs to develop leadership, business acumen, and interpersonal skills are essential. Rotational roles within the business provide firsthand experience and a holistic understanding of the enterprise. For those not active in the business, educating them about shareholder responsibility ensures their engagement and alignment with the family’s shared purpose.
Embracing Shared Values and Purpose
At the heart of every 100-year family enterprise is an unwavering commitment to shared values and purpose. These values serve as the glue that binds the family, even in moments of conflict or uncertainty. Stewardship — caring for the business and its legacy for future generations — is not just a guiding principle; it is a way of life.
Thriving families understand that their unity depends on mutual respect, transparency, and opportunities for connection. Annual retreats, philanthropic initiatives, and family history projects create moments of shared meaning. These efforts reinforce the understanding that the family is not merely a collection of individuals but a cohesive entity with a shared destiny.
A Spirit of Renewal
As families celebrate the holiday season, the spirit of Christmas offers a poignant reminder of renewal and hope. It is an opportunity to reflect on the past, celebrate achievements, and take bold steps toward change in the new year. Whether it’s finalizing a Family Constitution, appointing an external advisor, or launching an education program for the next generation, the actions taken today will shape the foundation for tomorrow.
The journey to becoming a 100-year family enterprise is neither easy nor quick, but it is profoundly rewarding. It requires vision, discipline, and a willingness to adapt. In this series, we will explore the additional pillars that support this remarkable achievement — from lifelong learning and philanthropy to innovation and resilience. Together, these elements form a blueprint for enduring family success.
Let this season inspire you to honor the past, strengthen the present, and illuminate the future of your family enterprise./PN
