Issues at the core of this chapter are the transition to institutional practices, management, and governance. The conversation examines the strengths and weaknesses of family companies and the steps necessary to increase their lifespan and ensure they are managed effectively.
Subjects discussed include family constitutions, corporate culture, values, entrepreneurship, the importance of competent human resources, and leadership.
In his analysis, Bülent Eczacıbaşı recounts the Eczacıbaşı Group’s growth as a family company since its founding in 1942 and highlights points he believes are particularly important for leaders of the next generation to consider.
Holder of a BSc in Industrial Engineering from Boğaziçi University and a PhD in Policy Analysis from the RAND Graduate Institute, Yılmaz Argüden later founded ARGE Consulting and today serves as its CEO. The company is a B20 Knowledge Partner for Governance and Sustainability and is recognized by the European Parliament as one of the top three companies “shaping the future” through its commitment to corporate social responsibility. Published in several languages, Argüden has undertaken numerous international posts including Member of the International Finance Corporation Corporate Governance Groups Advisory Board and Vice-Chairman of the Public Governance Committee of the Business and Industry Advisory Committee at OECD (BIAC). Argüden has served on the boards of more than 50 companies in different countries as well as Chairman of the Rothschild Investment Bank in Turkey and the Global Chair of Local Networks at the UN Global Compact Board. The non-profit Argüden Governance Academy he has founded operates under the auspices of the Boğaziçi University Foundation. As the Chairman of the Turkish Quality Association, he initiated the National Quality Movement. He has also founded and/or led a number of non-governmental organizations such as the Turkish Education Volunteers Foundation (TEGV), Corporate Volunteers Association (CVA), Boğaziçi University Alumni Association, the Turkish-American Business Council, and the Turkish-Canadian Business Council. He currently serves as management consultant to many local and international businesses on strategy, business excellence, institutionalization and sustainability. Recipient of many prestigious strategic leadership, distinguished citizenship and career awards, in 1999 Yılmaz Argüden was named amongst the World Economic Forum’s 100 Global Leaders for Tomorrow for his commitment to improving the state of the world.
After attending Kadıköy Anatolian High School, Özlem Yıldırım-Öktem received her BA in Business Administration from Koç University and an MA in International Economics and Management as well as a PhD in Management from the Bocconi Business School (Italy). Upon returning to Turkey she conducted research on family holding companies and institutional governance as a post-doc at Sabancı University’s School of Management. She joined Boğaziçi University as a faculty member in management and strategy in 2012. Her research interests in sustainability in family businesses, globalization, management boards, senior management, and transfer of authority between generations have led to numerous contributions to eminent local and foreign journals. For nearly a decade, she has taught strategic management, human resources and research methods in Boğaziçi University’s undergraduate and graduate programs.