These days LvBS Family Business Center is launching the research of management practices of the Ukrainian family companies. The project is called “Good management vs. family values for a sustainable business development”.
First and foremost, this research has a practical purpose as it is aimed at facilitation of the sustainable development of the Ukrainian family companies and their presentation abroad. The Ukrainian family business will take a fresh look at management owing to communication, high-quality analytics, and counseling provided by world-class experts. (We believe that each participant will be rewarded with a brand new level of company management, and the results of this research will be spread in media, used when developing training programs and cases as well as published within the academic society, int. al. an international one.)
It is not a secret that family companies provide a substantial contribution to our economy. Owing to the distinctive advantages, the results of their work are often better than those shown by others. However, they can also face some problems in running business and handing it over to the next generation. Currently, our knowledge of those opportunities is highly limited.
Both deep problem analysis and involvement of the best international expertise will be used in order to elaborate a bunch of management principles and recommendations on the improvement of practices and institutions for the independent and sustainable family business management as well as Advisory and Supervisory boards will be introduced to grant a sustainable business development (especially in the time of crisis). Moreover, the research can lie a foundation for a new certificate course and complement the knowledge of the Ukrainian family business accumulated at the Ukrainian Catholic University. The obtained materials will be used for elaborating training cases on the Ukrainian family companies. That will be a basis for a family business (in particular, next-generation) training.
We believe that this project (in particular, the aforementioned research) will help LvBS, Family Business Center, and the academic society to better understand the principles of family business management and build a reliable partnership for sustainable development and growth. All that is of a particular value in a time of crisis.
EDHEC Family Business Center (France) is a partner of this research. It provides the respondents with a high-quality expertise and an outside perspective.
The project was financed within the scope of UCU research grant competition with the support of Charity Foundation “Believe in Yourself” founded by Viktor and Iryna Ivanchyk for the sake of education development in Ukraine.