8. Change and Transgenerational Value Creation (c) Thomas Zellweger, 2017

What are the three strategic drivers of family firm longevity? Describe the advantages and disadvantages of family firms with regard to the management of change? Family firms and disruptive change: what is meant by the term ‘family innovator’s dilemma’? What are the three strategic drivers of family firm longevity? Why is a focus on longevity of the family firm limiting for families pursuing transgenerational value creation? (c) Thomas Zellweger, 2017

Why is the performance of a single firm not the most critical measure of success in the context of transgenerational value creation? What are the building blocks of transgenerational value creation? Give an example for each element. What are the critical attributes of resources and resource management in the longevity perspective? What are they in the transgenerational value creation perspective? (c) Thomas Zellweger, 2017

transgenerational value creation? Why is it challenging for entrepreneurs to switch from the role of business manager to the role of investment manager? Which arguments speak against diversification of family wealth if a family seeks to achieve transgenerational value creation? Transgenerational value creation emphasizes business and investment management. What are the respective roles that these two management spheres play in transgenerational value creation? (c) Thomas Zellweger, 2017

Your own family firm If your family controls a business activity, consider the following questions: What do you think needs to be done to prepare the firm for transgenerational value creation? What are the obstacles? (c) Thomas Zellweger, 2017

Transgenerational value creation in a family firm near you Think about a long-term value-creating family from your region or your cultural context, and consider the following questions: What elements of the transgenerational value creation framework do you recognize in this case? In what way do the cultural and institutional contexts hinder or support transgenerational value creation? (c) Thomas Zellweger, 2017