The COVID-19 pandemic caused disruption to many communities, companies and countries. It rendered organizational systems defunct. The severity of disruption meant that only the most resilient businesses could survive and a very few thrived. Family businesses were no exception to this rule.
Family businesses have traditionally focused on the long-term with medium risk-aversion. The new reality has resulted in families assessing their purpose and values. This reality, coupled with the role they play in the community has necessitated a refocus on structures, governance and leadership.
Families are now rethinking how they shape their future. Our focus for the maiden edition was to interrogate how family businesses are able to build personal and organisational resilience in their organisations.