Many family firms tend to look back for guidance and integrate knowledge from the past into their innovation efforts. Although reliance on the past can induce rigidity and stall adaptation, the longevity of multi-generation family firms often provides an extremely rich collective set of memories that can help catalyze and facilitate innovation.
One example is the Swiss watchmaker Patek Philippe, owing its fortune to the ability of blending cutting-edge technologies and the traditional craftsmanship of local artisans Through interactive group exercises, case discussions, and experiments, this course will help you understand how tradition can be leveraged to create and capture value from innovation.
Participants will better understand the following and more:
- How to innovate with limited resources
- How to identify, integrate and recombine past knowledge to develop new products/services
- Processes and tools that can facilitate knowledge recombination
- Designing the right financing strategy for their family firms
Prof. Ambra Mazzelli’s research and teaching focuses on the causes, dynamics, and consequences of organizational change in family firms. Her work has recently appeared in the Academy of Management Review – the most influential business journal worldwide. The article describes the forces driving the evolution of small family firms into some of the most iconic, complex, and diversified organizations in countries around the world.
Assistant Professor of Management and Organizations.
International Faculty Fellow at MIT
AREA OF EXPERTISE
Organizational Change, Family Business Management
This course is designed for teams of three (or more) individuals – including family owners, family and non-family executives, and top managers – to allow participants to have crucial conversations together and collaborate on goal setting and long-term planning.