Is Your Family Business Exploiting or Exploring? 🧭 Discover the Innovation Strategies Vital for Growth! In today's rapidly changing world, innovation isn't just an option for family businesses – it's essential for survival and growth from one generation to the next! But what kind of innovation, and who drives it? Our latest FamBiz Toolkit article dives deep into: ⏩Exploitation vs. Exploration: Understanding the two key innovation strategies – improving current offerings vs. discovering radically new ones. ⏩The Next Generation's Decisive Role: Research shows younger family members are crucial catalysts for both enhancing existing products/services AND pushing the business towards new, exciting opportunities! ⏩Family Councils as Innovation Hubs: How these structures, with active next-gen participation, can foster bolder innovation. ⏩Practical Steps: Actionable advice for current leaders on involving younger members, and for the next generation on how to step up and contribute effectively. Don't get caught in a "competency trap"! Learn how to leverage intergenerational synergy to build a resilient and adaptive family business. Read the full article (in Greek): https://bit.ly/4j3FHNE The FamBiz Toolkit is curated by Alba Graduate Business School, in partnership with NN, empowering the new generation of family businesses in Greece. Want more insights like this delivered to your inbox? Subscribe to the FamBiz Toolkit newsletter: https://bit.ly/4jampY5 #NNHellas (fb)

With the SEV scholarships, Alba students turn their dreams into reality and share their experience with you. Learn more about the SEV scholarships here: https://alba.acg.edu/studying-at-alba/tuition-funding/named-scholarships/sev-hellenic-federation-of-enterprises-scholarships/ #SEV #AlbaGraduateBusinessSchool #learningalliance (fb)