In a Texas A&M study of the S&P 500, family-owned businesses beat other firms in both revenue and employment growth. In a recently published study by the Harvard Business Review, family firms are more innovative than other companies even though their R&D budgets are smaller. Some of the reasons are because family businesses often have a longer-term view and are more stable, inspire more trust, and benefit from a greater commitment by their employees.
For a successful family business crossing multiple generations, the need for communication, conflict management and succession planning are some of the keys to success. Some of the challenges to success include nepotism, the ability to separate personal feelings from business, multiple generations, and an intense pressure to succeed.
Join Texas CEO as we welcome family businesses as they detail how they have made their companies and their families prosperous.
Wednesday, March 8, from 7:30 – 9:00 a.m. at the Petroleum Club of Houston.
Moderator – Robert Smith, Director of Investments, Friedkin Family Office
Robert oversees wealth management, corporate development, M&A, strategic planning and Investment management for the Friedkin Family. The family companies include: Gulf States Toyota, GSFSGroup, US AutoLogistics, GS Marketing, Toyota Rent a Car of Houston, Westside Lexus, and Northside Lexus.
Sharon Birkman, President and CEO, Birkman International
Sharon is the second generation at the helm of the family-owned behavioral and occupational assessment company. Her leadership began in 2002 and has been instrumental in ushering in a new era of product development and training initiatives during a time of unprecedented growth.
Sharon is a proud regional winner of the 2016 EY Entrepreneur of the Year award and Birkman has won both the local and national Best and Brightest Companies to Work For consecutively the past three years.
Sharon has an M.A. from the University of Texas at Austin and completed the Harvard Owner/President Management program.
Cory Jackson, CEO, CTG, Inc
Cory is the third generation of the Jackson family to operate their business in Texas – it was originally launched by his father & grandfather in Austin. CT Gasket, now headquartered in Houston, is a specialty manufacturer of gaskets and seals primarily for the oil & gas industry and secondarily for the semiconductor industry. Most of their products are for use in high temperature and high pressure environments.
To successfully transition a company from the founder to the following generations, the Jackson family has operated with a spirit of unselfishness with each family member willing to give.
Cory is a member of the University of Houston Mechanical Engineering Technology Department board of advisors.
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