Rappler Talk: Challenges of managing a family business
Bookmark this page to watch the interview at 4:30 pm on Friday, September 13
MANILA, Philippines – Children fighting over control of a company after the death of a patriarch is a common plot of telenovelas featuring rich families. It gets even more complicated when illegitimate children step in.
All this happens frequently in real life too.
In the Philippines, over 80% of companies are founded and run by families. (READ: LIST: Philippine companies among Forbes Asia's best firms in 2019)
While most succeed and thrive more than those that were founded by professionals, drama in family-run businesses tend to shake up the boardroom, threaten the welfare of thousands of employees, and even wreak havoc on the economy.
Rappler's Ralf Rivas talks to Ateneo de Manila University professor Enrique Soriano III, advisor of some of the richest families in the Philippines and Asia.
Soriano shares his thoughts on how conglomerates should plan, how he mentored the president of one of the biggest property developers in the country, and his advice for the feuding Yanson siblings. – Rappler.com