Distinguished family business scholar to make first Vermont appearance

Dr Pramodita Sharma, the Sanders Professor at the University of Vermont, will be making her first Vermont appearance on Thursday, October 27, to discuss the ‘Role of Entrepreneurialism in Sustaining Family Enterprises.’ Her research on the succession processes, governance, and dynamics underlying family firms has been recognized by several international organizations, while her latest co-authored book titled "Entrepreneurial Family Firms" is used in family business courses around the world and is being translated into Mandarin and Greek.
According to Dr. Sharma, ‘Entrepreneurs are not necessarily born, although evidence indicates that many of those who establish new ventures were found to be raised in families with business owners.’ The numbers support this as well; family businesses account for 50% of gross domestic output and employ half of the U.S. workforce. As well, over one-third of Fortune 500 firms are controlled by families. However, many businesses do not endure as family businesses: 70% fail to make the transition to the second generation; 90% do not make it to the third. Dr. will discuss the five tenets that will help enterprising families nurture and develop the entrepreneurial spirit in their family members, including respect, role modeling, practice, education and rules, roles and responsibilities.
The VFBI is a statewide organization coordinated by the University of Vermont's School of Business Administration. The goal of the Vermont Family Business Initiative is to give Vermont businesses the tools and support they need to compete in both the local and global arenas through a series of statewide forums and the free exchange of ideas. The program is open to members of the Vermont Family Business Initiative (VFBI), business owners and successors and will be held at the Burlington Hilton. The doors open at 8:00 a.m. with breakfast and networking, followed by Dr. Sharma’s remarks at 9:00.
uvm.edu/familybusiness