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Next-generation family businesses: Exploring business ecosystems
A 2018 global study by the Deloitte Family Business Centre.
Family-owned businesses in Ireland and around the world face a growing challenge: how to thrive in today's fluid business ecosystems while still preserving their identity as a business and their cohesion as a family.
Report topic: Family business and business ecosystems
Driven largely by digital technology and greater connectivity, new ways of creating value are being developed in all areas of business, in the form of networks, collaboration and interdependence – which we define as a business ecosystem. The opportunities for innovation from business ecosystems exceed those available to individual organisations operating independently, and are transforming the business landscape.
For many family-owned companies, business relationships used to be limited to a handful of players within the same industry—and often also within the same geographical region. While this model may have proved successful in the past, today’s dynamic business environment calls it into question.
To examine this trend, the Deloitte Family Business Centre polled current and future family business leaders in 52 countries, including Ireland.
Download the report to read analysis from Daniel Murray and Niall Glynn, discussing the key insights from Irish respondents and how they compare to their international peers in relation to the following global findings:
- Ecosystems offer opportunities for growth and innovation
- Third-party interactions have increased, with innovation a key goal
- Leaders value asset and intellectual property (IP) ownership, which may drive a preference for acquisitions
- Leaders may need to educate their families about the potential for digital transformation