This is the 5th in a series of working papers reporting on our intensive interview study of long-term successful families around the world. No business remains the same after a 100-year journey. Every long-lasting family enterprise learns how to navigate developmental and business crises as it crosses generations. This paper presents the business journeys of the nearly 100 long-lasting families in our study. Their resilience stems from continual innovation and transformation. We look at their major transformations—harvesting, pruning, diversifying and grounding—and at how the family is able to build an adaptive, sustainable culture.
