Critically Discuss the Role and Benefits of Long-Term Planning for Modern Family Businesses

Essay from the year 2012 in the subject Sociology - Gender Studies, grade: 1,0, University of Edinburgh (Business School ), language: English, abstract: This essay has sought to understand how long-term planning in family business can be a successful means of enhancing their success and surivival in the future. Less than one third of family-owned businesses survive into the second generation, with between 10-15% actually being continued into the third generation, it is essential to understand which factors may increase the longevity of modern family businesses and enhance their success in the future. Family members oversee, look after and maintain the business so that it is in a strong position when it is passed down to the next generation of family members. This focus ensures that those managing the family business have their eye on the long-term success of the company, and are less interested in shortterm profits.

Alexander Schmithausen completed his studies after graduating in Economics and Business Administration in the Netherlands, Germany, South Korea and USA. In 2012, he received a master's degree from the University of Edinburgh in Scotland. In addition, Schmithausen titled FInstAM, Fellow of the Institute of Administration Management Award. He received his PhD in Biostatistics at the LMU in Munich and attended the Columbia University in New York. He completed a management programme at the INSEAD Business School in France. As an assistant professor at the Ludwig Maximilian University, he teaches health economics and is a visiting researcher at the Max Planck Institute as well as a guest professor at the University of Cambridge. Mr. Schmithausen started his career in 2008 with an investment bank as a legal assistant. He has successfully managed the corporate development for several years as a project manager with the largest family-run hospital operator in Europe. Afterwards, in 2016, he took over as manager the heart cluster of one of the most renowned university hospitals in Europe. Currently, Mr. Schmithausen works as a consultant for an international strategy consulting in London and Munich Alexander Schmithausen hat nach seinem Abitur sein Studium der Volks- und Betriebswirtschaft in den Niederlanden, Deutschland, Südkorea und den USA absolviert. In 2012 hat er einen Masterabschluss der Universität Edinburgh in Schottland erhalten. Zudem wurde Schmithausen mit dem Titel FInstAM, Fellow des Institute of Administration Management ausgezeichnet. Zusätzlich erhielt er seinen Doktor in Biostatistik an der LMU in München und besuchte die Columbia University in New York. Ein Management Programm der INSEAD Business School absolvierte er mit Auszeichnung. Als Junior Professor an der Ludwig Maximilians Universität lehrt er zum Thema Gesundheitsökonomie und ist Gastforscher am Max-Planck Institut sowie als Gast Professor an der University of Cambridge. Herr Schmithausen startete seine Laufbahn im Jahr 2008 bei einer Investmentbank als juristischer Assistent. Mehrjährige Tätigkeit als Projektleiter der Unternehmensentwicklung für den größten familiengeführten Krankenhausbetreibers Europas hat er erfolgreich geleitet. Im Anschluss übernahm er im Jahr 2016 als Manager das Herzcluster eines der renommiertesten Universitätsklinika Europas. Zurzeit arbeitet Herr Schmithausen als Berater für eine internationale Strategie Beratung in London und München.