Responsible Family Business and Wealth Ownership Programme – Cambridge Judge Business School Executive Education Division
Philip Marcovici has been involved in the design of the Responsible Family Business and Wealth Ownership programme for Cambridge Judge Business School’s Executive Education division, together with a friend and colleague, Iraj Ispahani of Ispahani Advisory.
The dates for the 4-day programme are October 7 to 11, 2019, with participants arriving for dinner on the evening of October 7 and the programme finishing after lunch on October 11. See Cambridge Judge Responsible Family Business and Wealth Ownership
The inaugural programme was held in 2018 and was enjoyed by a most interesting and engaged cohort made up of families from Europe, Asia, North America and the Middle East.
For 2019, the theme of the programme will be the circular economy. An article on this topic and its relationship to the programme is at Article on Circularity and Family Businesses together with the agenda for 2019 at Agenda and a brochure at Brochure .
For wealth and business owning families, there is much to gain from a focus on circularity. Capital needs real purpose and sparing use includes natural, financial and cultural capital, and not just parts and resources used in the production of goods. Minimising waste also means minimising the waste of useful resources within a family, such as inadequate use and motivation of family members who may not be involved directly in the family business, but who may have a direct or indirect stake in the family business or wealth.
The course is only open to owners of family businesses and/or passive wealth and their families, affording participants a safe environment for sharing and learning from peers.
Apart from the academic rigour and reputation of Cambridge University, the programme brings the distinctive magic of Cambridge and its 31 Colleges to participants, helping to create a memorable and valuable experience for those attending on their own or with family members of different generations.
A primary objective is to offer participants an engaged learning experience reflecting the quality and reputation of the University of Cambridge. The programme showcases Cambridge’s expertise as a centre of competence and leadership on issues in and around family owned businesses and wealth. The responsibilities of wealth and business owners to society and the importance of dialogue with governments and other stakeholders is also a focus.
Beyond the programme, families are able to arrange customised optional elements, such as an organised private family retreat immediately following the course. For business owning families, customised elements can include strategy sessions designed to have family members involved in the family business develop closer relationships with professional management. Appropriate faculty members from Cambridge Judge and the University of Cambridge can, with Philip and others, be involved in such customized elements, permitting topics to include a variety of areas such as perspectives on philanthropy and impact investing, the creation of good governance and reporting frameworks and many others. How to create and encourage open and effective communication across all generations is an important objective for most families, and is often an area of focus.