New leaders must be prepared for uncertain times

By Ken Esch

The phrase “new normal” made a comeback after the financial crisis, suggesting a fundamental shift in the economic and business landscape. A few years on, many family enterprises are still struggling to define the new normal for themselves. It’s not surprising that many of those businesses remain hesitant to make bold moves.

This hesitation was evident in PwC’s latest Family Business Survey: Although they have plenty of cash to finance strategic changes (91% of respondents), U.S. family businesses are reluctant to commit their capital to major new initiatives in an environment of ongoing uncertainty. What leading family enterprises are recognizing, however, is … Read more

Planning for the unknown

For years, Family Business Magazine has been advising readers that the talents and abilities that are required of family business successors are likely to be far different from those required current and past leaders. In today's business climate, this is more true than ever.

In the current issue of Family Business, PwC's Ken Esch writes that since the global financial crisis, "uncertainty may be a defining characteristic of the new normal, not a temporary condition." Citing findings from PwC studies, Esch notes that significantly more leaders of private companies are uncertain about the U.S. economy (49%) than are optimistic about it (27%).

Business writers … Read more

90 Years of Excellence

Mitchell Kaneff, Chairman and CEO of Arkay Packaging (and Transitions conference speaker) discusses his company’s 90 year history.

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