Cross-Cultural

This is a region of interest to me as we publish on energy and the energy transition as well as on family offices and family businesses. The interview includes a helpful overview of the history of family business in the region. It was fascinating to learn how it has developed with the increasing diversification of the economy and that, for example, 80% of local labor works for a family business across sectors. It was also interesting to note that there are fewer older family businesses in the region with the consequence that governance is one area that needs to be developed. Words of advice for those interested to work with families in the region included getting to know people and spending time in the region. Of particular interest to me was Basma’s comment regarding women in family business: that women and businesses are ready for change.

Practice Insights

By Meredith Wilson Parfet

I found Meredith Wilson Parfet’s article both moving and profound. Meredith draws a parallel between death and professional crisis, as both involve a form of loss. The author points out how grief can also arise from professional crises such as scandal and bankruptcy, and that in these situations, it can be impossible to separate the personal from the professional. Families can of course also have a blurring of personal and professional boundaries. However, crisis can act as a catalyst for difficult conversations. In terms of practical advice, Meredith recommends focusing on connection and working out what gets in the way.

Family Values & Legacy

For the third piece, I have chosen the podcast with Krishna Thapa, the “warrior monk.” I am personally interested in other cultures and disciplines that can help us navigate through the world. As well as having a fascinating personal story as a former Gurkha and member of the SAS, Krishna has many lessons for the Western world, including family advisors, on the meaning of wealth (it is more effective to be at peace than always to be reactive), resilience (it is our choice how to react to adversity), and legacy (how can we do something with the soul (or “chitta,” which also appears in yoga philosophy)?).

Family Values & Legacy

I was drawn to the interview with Emmanuel Mankura, an elder in the Maasai tribe. I think ancient tribes such as the legendary Maasai have a lot to teach us about authentic leadership, values, and wisdom. I was struck by the importance placed on community and values with four clearly defined values that are the same at the family level as for the whole community. I very much liked the parting advice to make time to understand one another (“An enemy is a person you don’t know yet.”).

Family Values & Legacy

By Ricardo Mejía

In the final piece I have chosen, Ricardo Mejía reflects on the importance of storytelling to transmit a “company soul.” He argues that the soul of companies depends on the culture of family owners and their ability to transmit that, and he reflects on how managers can also create stories that “invite dreams of a better world” whether that be via new products, markets, or technology. In my role as a publisher, I am mindful of how we transmit our values and culture to the team and to the wider world through our activities and publishing output.