Loyola University Chicago

Loyola Business Leadership Hub

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This week the tone is different

I’m hearing more about plans to return to work and an eagerness to tackle post-quarantine reality. You’re either itching to bring your people back or, as an essential business, you’ve been working beyond capacity and want to think about what you’ve learned and what you’ll keep doing post-COVID crisis. Family businesses are in the midst of an ending and the start of a new beginning. It can get messy in the middle.


"New beginnings are often disguised as painful endings."
~ Lao Tsu


Celebrate the 2020 graduates

Graduates are finishing up school without the satisfaction and celebration of traditional ceremonies to mark the end and inspire a new beginning. For all you “Quaranteam” members out there who are trying to help our grads deal with their disappointment and plant hopeful seeds for their bright futures, take some inspiration from this virtual commencement hosted by SGN host John Krazinski (skip to the 6 minute mark). Fair warning: grab some Kleenex.

I have some questions...

And these folks have some answers! FBC member company Magid Glove and Safety knows a lot about protecting the workforce. They’ve been designing, making and distributing protective gear for 75 years. One of our founding principles at the Family Business Center is members learning from members. Magid was happy to share their own workforce plan so we can learn from them. Check out this helpful workforce protection plan and free safety videos here.

The challenges of reopening

Loyola's Center for Risk Management is hosting a free webinar on May 13th that will feature a panel of HR leaders to help you analyze the HR risks associated with reopening your business. Register here

Also on May 13th, our friends over at Katten are offering a webinar on legal guidelines and best practices for returning to work. Employment, health care, and privacy attorneys will share considerations, plans, and action items for reopening your business. Register here

When it’s all over, what will we learn?

The COVID-19 pandemic presents businesses and families with a level of uncertainty about their future that has not been seen since the days of world wars. Andrew Keyt, Loyola’s clinical professor in family business, has joined a team of renowned global family business researchers, to study the impact of COVID-19 on family-run businesses across the globe. Alongside Andrew, the team includes:

  • Dr. Joseph H. Astrachan, Kennesaw State University, USA
  • Dr. Claudia Binz Astrachan, Lucerne University of Applied Sciences and Arts, Switzerland
  • Dr. Isabel Botero, University of Louisville, USA
  • Dr. Chris Graves, University of Adelaide, Australia
  • Dr. Josip Kotlar, Politecnico di Milano, Italy
  • Dr. Torsten Pieper, UNC Charlotte, USA
  • Dr. Tom Rüsen, Witten/Herdecke University, Germany
  • Dr. Pedro Vazquez, IAE Business School, Argentina

The crisis presents a unique opportunity to learn so that we can be prepared for future crises. That is why this group of researchers has created a COVID-19 Family Business Survey. We know that your time is more valuable than ever now but if you have 15 minutes to spare, please participate. If you provide your email, you will receive a copy of the research findings. Take the survey!

How about learning something new now?

Listen to what family members have to say about one of our richest learning institutes! Your fellow FBC members talk about what they are learning in our latest video about the Family Business Stewardship Institute. Watch the video.

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As we end another week, let’s remember to celebrate the ones who made US all possible—MOM! Happy Mother’s Day! Send some love to the mothers, grandmothers, and mom proxies who loved you into the world and who may still be helping you today. 

Thank you for all you do for your families, employees, and communities every day. Stay safe and stay strong!