In 2018, Jared Diamond published "Upheaval - How Nations Cope With Crisis and Change". At its conclusion, “Upheaval” issues a chilling warning about the four largest-looming threats that could spell the end of civilization:
global resource depletion, and
rising global inequality.
To these 4 we can add Pandemic as another threat which we are actually living through. We created the situations we live in to-day and we can solve the problems. Many heroes are taking the mantle to fight the campaign to save the world. The leader of Tibetan Buddhism, the Dalai Lama, sees reasons for optimism even in the midst of the coronavirus pandemic.
Family (Office) is the most important vehicle both for investment and education for private individuals to take matters in their own hands and fix the shortcomings in the world. Families (offices) are transforming business models that drive impacts beyond the traditional bottom line in line with the SDGs. (Extracted 7th WIF 2021).
We all got used to believing that others will manage wisely for the benefits of all. What happened is that most leaders took too much power over how to and messed up. They were all dazzled by short term gains and forgot the basics.
That is why the we are witnessing more families and private clients take over the management of their financial matters and that trend will continue.
Studies show that shares in family-owned companies tend to outperform the wider market. The family businesses in the 2021 Index collectively generated US$7.28 trillion in revenues, employed 24.1 million people and were distributed across 45 jurisdictions. Together they constitute the third largest economic contribution in the world (after the US and China) by revenue1 – despite the global economy shrinking by 3.5% in 2020. They are vital to the future health and growth of every country’s economic well-being during the post-pandemic recovery.
#education #economy #management #growth