by Laura Quinn, MBA ’14 Before coming to UNC Kenan-Flagler, I viewed my family business as a natural extension of my family. It was something always present – from dinner table discussions to summers working in the office to the workers I had known my entire life. But I had never taken a step back to reflect on the business in a deeper sense – thinking about its strategy, longevity, and future. During my two years at UNC Kenan-Flagler, the Family Enterprise Center taught me not only the importance of such reflection but more importantly they provided me the tools and the guidance to thoughtfully do so. I learned what questions to ask, and how to listen. I learned about Read More
Category Archives: Family Enterprise
Last week, Dean Doug Shackelford taught his annual family business class on estate and gift taxes. Dean Shackelford stressed the importance of planning ahead and good family communication. Several alumni and parents joined us for this lively and informative class. Having parents in the class added an important perspective to the student-led discussion. We are hosting three more family business guest speakers this spring. Please join us! • Wednesday, April 16: Chris Herschend, Vice Chairman of the Board for Herschend Family Entertainment, and Joel Manby, President & CEO, Herschend Family Entertainment. • Wednesday, April 23: Thiago Penido, MBA ’09, Serveng Group, Sao Paulo, Brazil -Cooper and Steve
Steve Miller, co-founder of the Family Enterprise Center at UNC Kenan-Flagler Business School, was quoted last week in an article celebrating the 125th anniversary of Bernhardt Furniture, a family-owned business in Lenoir, NC. Steve spoke about the rarity of businesses being able to grow and adapt over multiple generations. Read the article in its entirety here: Bernhardt Furniture, still locally owned, reaches milestone | The News-Topic. Congratulations to Bernhardt Furniture on 125 years!
by Nick Mellott, MBA ’15 Students in Family Business I: Introduction to Family Enterprise were recently treated to a special guest presentation and discussion with Charles Luck IV, President and C.E.O. of the Luck Companies in Richmond, Virginia (quoted here last week in The Wall Street Journal). Mr. Luck shared with the class the firm’s background and also discussed how Luck’s Values-Based Leadership program has transformed the company. The Luck Companies are comprised of four business divisions including Luck Stone (aggregate producer), Charles Luck (architectural stone), Har-Tru Sports (clay tennis courts), and Luck Development Partners (real estate). The company was founded in 1923, and Mr. Luck still works closely with his father, Charles Luck III, who serves as Chairman. Mr. Luck’s Read More
Join us for our 9th year of family business courses! We invite you to join us on one of the below dates from 2:00 – 3:15 pm to hear one of our class speakers or from 12:30 – 1:45 pm for one of our Next Generation Leadership Roundtable lunches. Please RSVP to Cooper at email@example.com. Wednesday, February 19: Succession: The Transfer of Power and Culture Change, Speaker: Charles S. Luck, IV, CEO & President, Luck Companies, Richmond, VA. Wednesday, February 26: Professionalizing the Family Firm, Speaker: Paul Leone, President and COO, The Breakers, Palm Beach, FL. Wednesday, March 5: Strategy and Sibling Partnerships, Speaker: Stephen Shuford, MBA ’97, Executive Vice President, Shurtape, Hickory, NC. Tuesday, March 25 from 12:30-1:45: Father Read More
Laura Solie Quinn, MBA ’14 and Family Business Club Co-VP, shares her impressions of a Family Enterprise Center lunch with Mike Griffin, BSBA ’87 and managing partner in Griffin Brothers Companies. As I walked to my car after the lunch, I reflected on the fantastic group conversation with Mike Griffin. After briefly sharing our backgrounds, Mike started the family business event by leading us through his own business journey. He candidly spoke of the challenges and successes of Griffin Brothers Companies. He then opened up the floor for questions. Immediately, first and second year MBAs started sharing intimate concerns about their own family businesses. “How do you approach your dual role as son and employee?” one student asked. ”Is passion in the company Read More
Brother and sister duo, Joy (BSBA ’09) and Carl (BSBA ’12) Ritchie, presented at the inaugural meeting of our newly formed Undergraduate Family Business Club. They came bearing Cheerwine and a wonderful presentation that summarized the company’s colorful history as well as their exciting future.
We have completed another great semester with a strong group of family business students. Highlights from the semester and recent student comments are on our Blog. Read our February FEC newsletter.Our new MBA Family Business Club VPs, Laura Solie and Kathryn Howlett, have already begun to plan some great opportunities for students for next year. See Upcoming Events. • Join our Linked in Group to receive occasional articles and helpful resources. • Visit our YouTube playlist to see video of recent students. Upcoming Events • MBA Family Business Club Happy Hour, Thursday, August 22, 7:00 • Second Year MBA Welcome Back Lunch, August 26, 12:30-1:45 • Family Business Roundtable Lunch, September 9, 12:30-1:45 • Family Business Roundtable Lunch, October 28, 12:30-1:45 • MBA Family Business Club Read More
By Angela Spivey Hope Holding Connell (AB ’85, MBA ’90) grew up in a banking family; her brother, her uncle and her grandfather served as chair and CEO of Raleigh-based First Citizens BancShares. Though banking was in her blood, while learning the ropes in jobs from teller to branch manager Connell felt she was missing something. “Being an English major, I felt that other people knew something about banking that I didn’t,” she says. Earning an MBA at UNC Kenan-Flagler filled in her knowledge of accounting and finance, but most importantly, it boosted her confidence. “The MBA demystified everything,” she says. UNC Kenan-Flagler’s emphasis on working in teams gave Connell a skill that she says didn’t come naturally — speaking Read More
In his third article in the family business series for Smart Manager, The Art of Letting Go*, Miller focuses on “leadership and ownership from one generation to the next in a family enterprise.” He looks to Ted Wentz (MBA ’08) who successfully started his own business (Firecraft) under the umbrella of his family’s business (Quadratec) to demonstrate how transgenerational entrepreneurship can generate growth and sustainability for a family firm. *First published in and reproduced with permission from The Smart Manager, India’s first world-class management magazine (www.thesmartmanager.com).