{"id":169698,"date":"2025-05-16T14:25:06","date_gmt":"2025-05-16T20:25:06","guid":{"rendered":"https:\/\/tecscience.tec.mx\/en\/?p=169698"},"modified":"2025-05-19T15:03:56","modified_gmt":"2025-05-19T21:03:56","slug":"the-future-of-family-businesses","status":"publish","type":"post","link":"https:\/\/tecscience.tec.mx\/en\/business-innovation\/the-future-of-family-businesses\/","title":{"rendered":"Researching Legacy to Build the Future of Family Businesses"},"content":{"rendered":"\n

Family-owned businesses generate over 70% of jobs and contribute more than 80% of Mexico\u2019s Gross Domestic Product (GDP)<\/strong>. What\u2019s more, if you were to combine the world\u2019s top 500 family enterprises, they would rank as the third-largest economy globally, explained Mar\u00eda Fonseca<\/a>, director of the Institute for Family Businesses in Mexico and Latin America<\/a> (IFEM) at Tec de Monterrey\u2019s Business School<\/a>.<\/p>\n\n\n\n

That\u2019s why it\u2019s so crucial to understand the role of business families and to explore topics such as legacy, their impact on the global economy, succession and generational transition processes, as well as governance and leadership models.<\/p>\n\n\n\n

Business families are intergenerational family networks<\/strong> that grow and diversify well beyond their original business. They also tend to engage in broader activities tied to social causes, philanthropy, and education.<\/p>\n\n\n\n

\u201cA business family is an organization that evolves over time: it may begin as a nuclear family, but it eventually becomes a family of families,\u201d she said. \u201cThese families are behind the organizations that create the largest number of jobs and contribute significantly to the GDP.\u201d<\/p>\n\n\n\n

As part of its research efforts\u2014and to foster connection and knowledge-sharing around these organizations\u2014IFEM, in partnership with The STEP Project Global Consortium (SPGC), an international network focused on transgenerational family enterprise research, is hosting the Global Family Business Summit 2025 at the Expedition FEMSA<\/a> building in the Monterrey Innovation District<\/a>, alongside the Tec\u2019s EGADE Business School<\/a>.<\/p>\n\n\n\n

The event brings together more than 120 participants, including family business leaders, academics, and consultants from over 30 countries. They gather to share insights, exchange strategies, and build high-level collaborative networks centered on the future of business families.<\/p>\n\n\n\n

\r\n \r\n \"\"\r\n <\/picture>
The event brings together more than 120 participants\u2014including family business leaders, academics, and consultants from over 30 countries\u2014who share their vision for the future of business families. (Photo: Alejandro Salazar \/ TecScience)<\/figcaption><\/figure>\n\n\n\n

Research Focused on Business Families<\/h2>\n\n\n\n

Research on business families can be conducted through both quantitative methods\u2014such as surveys and macroeconomic data\u2014and qualitative approaches that analyze family dynamics.<\/p>\n\n\n\n

These studies generate academic knowledge that can be translated into practical tools for families. Some areas of focus include generational succession, retirement planning, institutionalization, and intergenerational impact.<\/p>\n\n\n\n

Such research helps families navigate their biggest challenges, Fonseca explained. \u201cThe greatest hurdle isn\u2019t just succession within these organizations\u2014it\u2019s attracting and engaging new generations so they\u2019ll carry the legacy<\/a> forward.\u201d She added that transitions rarely happen in a single moment; rather, they unfold over several years\u2014at least five\u2014and demand careful planning and coordination.<\/p>\n\n\n\n

In that spirit, IFEM has developed a working model centered on education, consulting, and research, built around four key areas of expertise:<\/p>\n\n\n\n