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The debate about family-managed versus professional companies is fruitless. The debate is between well-managed and poorly managed companies. The future leader will be a “professional entrepreneurial manager”.
I participated in a panel discussion on “long-life companies” in the 2024 Drucker Forum in Vienna. One fellow-panelist was Adrian Wooldridge, who writes for Bloomberg and The Economist. Adrian strongly refuted my plea for long-life companies by quoting the Schumpeter creative destruction principle that companies without capability or purpose should be allowed to die, that long life is no virtue for an incapable company. Of course, that is true. Adrian readily accepted the
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