Developing Family Intrapreneurship

Listen to Christine as she discusses developing intrapreneurship within the family business. In a family business, encouraging entrepreneurship can spark innovation and passion in the rising generation, which can ultimately lead to success, benefiting all members of the family business.

Now, another thing that some families are developing is actually to support next generation members in their new ventures, you know, starting their own businesses, with sometimes some family funds, but also outside funds, and with some family support in terms of advice or a board of directors, or networking. So some businesses encourage the rising generation to start their own businesses and that will be to the benefit of everyone. So we have, for instance, I know a business where they have an award for entrepreneurial innovation from their family members, and actually, you don’t even need to be from the rising generation to get the award, you can even be 50 years old and have the award. But it fosters the spirit of entrepreneurship, and of course the younger ones can also benefit from that of course.