One of the fastest growing fields of study these days is the way Complexity Theory increasingly plays out in businesses and society. Originally, Complexity Theory was mostly used to describe mathematical problems according to their level of difficulty, which simply means that for some of us, Algebra II represented complexity theory in action back in high school!
But the conversation around Complexity Theory today is more about the pace, volume, and weight of change that leaders in business have to manage. Place those complexities in the middle of a multi-generational family business and complexity seems to multiply (and we’re back to the original mathematical use of the term!), requiring constant adjustment and change of its leaders.
And this is what successful family business leaders know: Balancing the key aspects of a successful enterprise may be made more complex by the need to manage all the inter-related relationships – both inside and outside of the family, and the need to leverage the multi-layers of legacy and continuity, are simply core requirements of family businesses. This means that family businesses may be the ultimate definition and example of change well managed.
With the reality of complexity theory at work in family businesses, I’ll be blogging about three change management tools and how they can best be applied in the complex world of family business.