The Times Australia
News From Asia

.

Kellogg School of Management's John L. Ward Center for Family Enterprises Highlights Importance of ‘Transformative Learning’ for Family Businesses

  • Need for long term planning flagged at Global Family Business Summit in Singapore
  • John L.
  • Ward Center for Family Enterprises collaborates with partners in Asia, such as Tanoto Foundation, to develop research to support future of family businesses

SINGAPORE - Media OutReach - 29 August 2023 - The Kellogg School of Management's John L. Ward Center ('the Ward Center') for Family Enterprises has highlighted the value of 'transformative learning' as a means of supporting long term succession planning for family businesses and managing the transition between generations.

At the Global Family Business Summit, held today in Singapore by the Kellogg School of Management at Northwestern University, one of the leading research and teaching universities in the U.S., experts from the Ward Center shared research on family business trends and outlined specific learning approaches to help family businesses protect and enhance the value of their operations and build capacity over time.

As part of its commitment to continuously developing its teaching capacity, the Ward Center collaborates with external partners, such as Tanoto Foundation, who share insights gleaned from decades of business which in turn contribute to the research carried out by the Center.

Francesca Cornelli, dean of the Kellogg School of Management, said: "When family businesses grow, they face challenges which are different than other types of businesses. Families have to adapt to expansions and new challenges, sometimes in a short time span. It is therefore important to consider new approaches to build capacity and ensure an effective transition between generations".

"The Ward Center's educational programming and groundbreaking research is an asset to family businesses across Asia and around the world, and I'm thrilled we were able to convene so many prominent family business leaders in Singapore for these important conversations," she added.

Dr. Matt Allen, Executive Director of the Ward Center for Family Enterprises, said: "In many cases, the next generation of family businesses will have witnessed their companies evolve from a nascent stage to a vast and intricate present. This is why we have introduced what we call 'transformative learning', in which we use innovative teaching methodologies to help students and their families to rethink how they can work together for the future of their businesses".

The Global Family Business Summit takes place against a backdrop of the steady growth in family businesses, both globally and in Asia. Research from PwC published last March showed that 71% of family businesses reported growth in their last financial year, while the number of family offices based in Singapore has increased exponentially in recent years.

Dr. J. Satrijo Tanudjojo, Global CEO of Tanoto Foundation, said: "This dramatic growth in family businesses highlights the need for continuing scholarship and research in this area. There's an increasing need for education focused on family business strategies, governance, and succession to ensure the sustainable expansion of family businesses for future generations".

In 2021, Tanoto Foundation made a donation of USD10 million to Northwestern University, renaming the Kellogg School of Management's Center for Family Enterprises to the John L. Ward Center for Family Enterprises, in honour of Clinical Professor Emeritus John L. Ward, who served as co-director of the center for nearly two decades and was one of the first scholars to put science behind the field of family enterprise.

Hashtag: #TanotoFoundation

The issuer is solely responsible for the content of this announcement.

About Tanoto Foundation

Tanoto Foundation is an independent philanthropic organisation founded by Sukanto Tanoto and Tinah Bingei Tanoto based on the belief that every person should have the opportunity to realise his or her full potential. Tanoto Foundation programmes stem from the belief that quality education accelerates equal opportunity. We harness the transformative strength of education to realise people's full potential and improve lives. Tanoto Foundation focuses on making an impact in three main areas: improving learning environments, future leader's development, as well as medical research and sciences.

More information is available at .

About the Kellogg School of Management at Northwestern University

The Kellogg School of Management at Northwestern University is a premier global business school committed to its mission to educate, equip and inspire leaders who leverage creativity and innovation and bring empathy to every decision. Based just outside of Chicago, our vibrant, global community of faculty, staff, students and alumni shapes the practice of business and organizations around the world. Kellogg offers an innovative portfolio of programs: six Full-Time MBA programs including the accelerated One-Year MBA and Two-Year MBA options, and joint degree programs with the engineering, medical and law schools; an Evening & Weekend Program; the Executive MBA global network; a Master of Science in Management Studies; the PhD program; and extensive non-degree Executive Education programs.

Times Magazine

Headless CMS in Digital Twins and 3D Product Experiences

Image by freepik As the metaverse becomes more advanced and accessible, it's clear that multiple sectors will use digital twins and 3D product experiences to visualize, connect, and streamline efforts better. A digital twin is a virtual replica of ...

The Decline of Hyper-Casual: How Mid-Core Mobile Games Took Over in 2025

In recent years, the mobile gaming landscape has undergone a significant transformation, with mid-core mobile games emerging as the dominant force in app stores by 2025. This shift is underpinned by changing user habits and evolving monetization tr...

Understanding ITIL 4 and PRINCE2 Project Management Synergy

Key Highlights ITIL 4 focuses on IT service management, emphasising continual improvement and value creation through modern digital transformation approaches. PRINCE2 project management supports systematic planning and execution of projects wit...

What AI Adoption Means for the Future of Workplace Risk Management

Image by freepik As industrial operations become more complex and fast-paced, the risks faced by workers and employers alike continue to grow. Traditional safety models—reliant on manual oversight, reactive investigations, and standardised checklist...

From Beach Bops to Alpine Anthems: Your Sonos Survival Guide for a Long Weekend Escape

Alright, fellow adventurers and relaxation enthusiasts! So, you've packed your bags, charged your devices, and mentally prepared for that glorious King's Birthday long weekend. But hold on, are you really ready? Because a true long weekend warrior kn...

Effective Commercial Pest Control Solutions for a Safer Workplace

Keeping a workplace clean, safe, and free from pests is essential for maintaining productivity, protecting employee health, and upholding a company's reputation. Pests pose health risks, can cause structural damage, and can lead to serious legal an...

The Times Features

Distressed by all the bad news? Here’s how to stay informed but still look after yourself

If you’re feeling like the news is particularly bad at the moment, you’re not alone. But many of us can’t look away – and don’t want to. Engaging with news can help us make ...

The Role of Your GP in Creating a Chronic Disease Management Plan That Works

Living with a long-term condition, whether that is diabetes, asthma, arthritis or heart disease, means making hundreds of small decisions every day. You plan your diet against m...

Troubleshooting Flickering Lights: A Comprehensive Guide for Homeowners

Image by rawpixel.com on Freepik Effectively addressing flickering lights in your home is more than just a matter of convenience; it's a pivotal aspect of both home safety and en...

My shins hurt after running. Could it be shin splints?

If you’ve started running for the first time, started again after a break, or your workout is more intense, you might have felt it. A dull, nagging ache down your shins after...

Metal Roof Replacement Cost Per Square Metre in 2025: A Comprehensive Guide for Australian Homeowners

In recent years, the trend of installing metal roofs has surged across Australia. With their reputation for being both robust and visually appealing, it's easy to understand thei...

Why You’re Always Adjusting Your Bra — and What to Do Instead

Image by freepik It starts with a gentle tug, then a subtle shift, and before you know it, you're adjusting your bra again — in the middle of work, at dinner, even on the couch. I...