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Loyola Business Leadership Hub

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Plan plans. Not outcomes.

Plan plans. Not outcomes.

It looks like we're tiptoeing our way into opening up businesses, communities, and economies. My discussions about this with family business owners have seesawed between energetic and uncertain. Some aren't sure what to plan for; they're anxious about a resurgence in COVID infections, civil unrest, and the economy. We’ve pulled together some resources we think will help—check them out below.

Crucial conversations

“The price is high, the reward is great.”

Dr. Maya Angelou


“I’m not equipped."
"We don’t know how to do it."
"I don’t want to offend." 
"I really don’t understand."
"I’m afraid of doing something wrong.”

These are all phrases I heard this week in discussions about it — systemic racism and a lack of diversity and inclusion in our communities and workplaces. 

When faced with uncertainty we look for guidance. The price paid for the intrinsic and economic rewards that come with diversity and inclusion might be that we rumble with our own discomfort.  

Loyola’s Baumhart Center is hosting a free webinar on June 16th: Discussing Race and Racism in the Workplace. Get guidance from experts and executives on how to structure workplace conversations that support both change and understanding. More here.

Generation Z

A change will do you good.”

Sheryl Crow


A rallying cry for change is being heard across the country, driven by those without formal authority and power. Over the past two weeks, we've seen protests happening across the country—many of these protests have been full of young people, especially Gen Zs. Born between 1996 and 2010, Gen Zs are serious about diversity, equity, and inclusion. They are living through formative experiences that will shape their lives and impact all of our futures. They are determined to bring change to the way we think and act in our communities, family businesses, and the world. You can read more about Gen Z here.

Tell me a story...

My family has always felt that supporting the community was one of the most important factors in owning a business. I was brought up with that philosophy.”

Robert Eastman


The FBC is gathering stories about family business enterprises in 2020. We are searching for stories of challenge and resilience, and how family businesses have responded to the COVID-19 crisis. Our goal is to share these stories with our member community later in the year. Read one family business story here and then tell us your own.

If you’re open to sharing your experience, contact Anne at asmart@luc.edu.

What's the secret sauce?

If you dream of joining a family board as an independent director, it's important to first understand what high performing family business boards require from their directors. 

Join Andrew Keyt, Clinical Professor in Family Business, on August 27 for Becoming and Effective Board Member in Family Business. This 3-hour online class is run through Loyola's Executive and Professional Education Center and is designed for independent directors. Read more about the class and register here.


 

FBC news

Like most of our member companies, the Loyola Family Business Center has been hyper-focused on managing changes in operations and service delivery under the constraints of COVID-19. It's time now to begin to create something new. Next week we’ll share some of our program schedule changes for 2020, as well as some exciting news about the Illinois Family Business of the Year Awards. Stay tuned... 


 

Thank you for everything you are doing to support your businesses, communities, families, and the economy. If you’re tired: take a nap, listen to some music, get out and enjoy this gorgeous weather, and remember to bring some hope with you.