- IMD Business School  - IMD Business School  - IMD Business School
IMD Global Family Business Award

Celebrating excellence in family, business, ownership, and society

IMD Global Family Business Award

Celebrating excellence in family, business, ownership, and society

Since 1996, the IMD Global Family Business Award has annually recognised outstanding family enterprises from around the world. Celebrating excellence across family, ownership, business and society, the Award shines a light on families that combine strong performance with responsible ownership, long-term thinking and positive impact across generations.

Help us identify the next generation of outstanding family enterprises. Anyone can nominate a family business, and families are welcome to nominate themselves. Nominations for the 2027 IMD Global Family Business Award open in January.

Be the first to know when nominations open? Write to [email protected]

Criteria & process

The award recognizes family businesses with excellence on the following dimensions: family, business, ownership, and society.

Eligibility criteria are:

  • Multigenerational: At least in the third generation
  • Large: Annual revenue of at least USD 0.5 billion
  • International: With business operations in multiple countries

In selecting the award winner, a panel of independent jury experts examines further aspects of the family business.

Careful consideration is given to the values of the people who run the business, including the way in which they unite their family and business interests and combine tradition and innovation while demonstrating a clear commitment to their communities.

Award process
01.
Nomination

Anyone can nominate an eligible family enterprise, and families are welcome to nominate themselves. There is no cost to enter.

02.
Application

Nominated families that meet the eligibility criteria are invited to submit an application. The nominated family approves the application before it is considered by the jury.

03.
In-depth research

The IMD research team conducts further research and interviews with key family members, building a comprehensive picture of each finalist across family, ownership, business and society. A detailed report is prepared for the jury.

04.
Independent jury decision

An international jury of family enterprise leaders, previous Award winners and senior academics reviews the candidates and votes independently and anonymously to select the winner.

05.
Recognition & celebration

The winner is announced and celebrated at the FBN Global Summit.

06.
Impact

IMD develops a teaching case study and video, helping share the family’s experience and insights with future generations of family enterprise leaders.

 - IMD Business School
A trophy crafted by Chopard and complimentary seats on our IMD Family Business Programs are awarded to the winner.

The award winner receives two free seats, and other finalists one free seat. Additionally,  case study and articles about the winning family business are published by IMD’s Award Director Professor Peter Vogel and the award research team.

The award trophy is crafted by Chopard, a family-run business and expert in watches and jewelry. Held between two glass plates fixed in a rock crystal base, and housed in an elegant pear wood case, the trophy features a representation of a tree, providing a powerful metaphor of the family business spirit that draws its strength from tradition to grow and develop.

Through its roots firmly planted in the ground and its branches reaching towards the sky, the tree symbolizes the stability of the family, its links to the past, present, and future, and the continuity of generations.

Jury

The Award is determined by an independent international jury bringing together family enterprise leaders, previous Award winners and leading academics. Their collective experience ensures that each candidate is considered through the multiple lenses of family, ownership, business and society.

Responsibility, authority and compensation

  • Full confidentiality applies at all times for all Award activities and communications.
  • Jury members receive an extensive report on finalists which they are asked to read to prepare for the annual jury meeting and anonymous online vote.
  • There is no compensation for time or other expenses.
  • Voting Members
  • Non-voting members
  • Get to know the voting members of the jury, displayed in alphabetical order

    Award winners

    List of previous winners

     

     - IMD Business School

    The IMD Global Family Business Award is one of the oldest and most highly recognized family business honors in the world. For over a quarter of a century we identify and recognize outstanding enterprising families and their businesses who serve as a role model for families around the world..

    Peter Vogel Award Director and Professor of Family Business and Entrepreneurship, IMD, Switzerland
    Concept for being special and extra outstanding. Background for Christmas and New Year card.
Teamwork vs individual. - IMD Business School

    We are very glad we took part in the IMD Global Family Business Award process, since some of the questions in the application form pushed us as a family to think through.

     

    Award applicant 2023
     - IMD Business School

    2020 was a challenging year for so many of us. And so, winning an award like this is timely encouragement to us to continue to nourish our culture, brands, people, environment, shareholders and stakeholders, for their long-term health into the next generation, and the coming decades.

    G Garvin Brown IV Brown-Forman Chairman and a 5th generation family shareholder, Brown-Forman (2020 winner), USA
     - IMD Business School

    Being recognized by IMD encourages us to keep building a lasting family-owned company in the direction that we have been following since its foundation. It also makes us very proud of our progress and conscious about the challenges we must face and overcome as a family in the upcoming years. As a family, we feel united by this award.

    Pedro Felipe Carvajal CEO and fourth generation family shareholder, Carvajal (winner 2022), Colombia
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    Frequently Asked Questions
    Who can nominate?

    Anyone is welcome to nominate or self-nominate. 

    What are the nomination/self-nominations criteria?
    • Multigenerational: At least in the third generation 
    • Large: Annual revenue of at least USD 0.5 billion 
    • International: With business operations in multiple countries 
    When is the winner announced?

    The announcement of the winner takes place during the award ceremony at the Family Business Network (FBN) Global Summit.  

    Who makes the final decision?

    The winner of the IMD Global Family Business Award will be determined by the voting jury, composed of members of globally leading family businesses, former award winners and senior expert academics within the field of family business. Jury members receive an extensive report on finalists which they are asked to read to prepare for the annual jury meeting and anonymous online vote. 

    Why should my family business apply?

    Family businesses that meet the eligibility criteria are encouraged to apply for the award, as it not only recognizes their achievements but also inspires them to reflect deeply on their journey and future goals. Past applicants have found that the process of completing the application brought them closer together as a family, fostering meaningful discussions and strategic thinking. 

    Are there any costs involved?

    There are no costs associated with entry.   

    What are the commitments for family businesses that apply?

    As a first step the family must confirm their willingness to participate. They must then complete the formal application form and return it by the end of April. This is followed by a 60-minute phone interview with a family representative to deepen our understanding and expand on certain aspects of the family business. 

    What are the commitments for the award winner?

    Winner is informed in July and the announcement of the winner takes place during the award ceremony at the Family Business Network (FBN) Global Summit in October/November. The presence of at least two representatives of the family is expected. 

    How will the information and materials collected during the award process be handled?

    All materials and information collected and discussed throughout the award process will be handled with the utmost confidentiality. List of nominees, applicants and finalists will only be available to the voting and non-voting judges and the IMD team.  

    Can candidates re-apply for the award?

    Family businesses are welcome to re-apply for the award. However, we suggest that they ensure improvements in the specified areas before re-submitting application. Ideally, we recommend waiting 2-3 years before re-applying to allow sufficient time for these enhancements to take effect. 

    What are the award prizes?

    The winner receives a beautiful and unique trophy crafted by Chopard, two complimentary seats on our Family Business/Family Office programs and has a case study and articles published about them. The winner also receives complementary access (for two) to the FBN Global Summit where the prize is handed out, as well as visibility around IMD campus, in our newsletters and on both the IMD website and the IMD Global Family Business Center website. 

    There can be only one winner. The runners-up, however, are also rewarded for their participation with a complimentary seat for our Family Business/Family Office programs.  

    With sincere thanks to our partners

    Case studies

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