Award criteria

The Award recognizes large (annual turnover of at least USD 0.5 billion), global (operations on at least two continents) and multigenerational (of at least 3rd generation) family businesses with excellence on both family and business dimensions.

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, 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

Step 1 - Call for nominations and collection of the applications (March-April)
IMD solicit applications from family businesses and nominations from IMD family business alumni programs, contacts and all members of the Family Business Network. 

Step 2 – Identification of the finalists (April-May)
Based on the award criteria, finalists are identified by the evaluation committee composed of:
- Benoit Leleux, IMD Global Family Business Award director
- Marta Widz, IMD Global Family Business Award research fellow
- Honora Ducatillon, Head of Family Office Services, Pictet Wealth Management
- Malgorzata Kurak, IMD Family Business research fellow

Step 3 – Advanced research on the finalist (May-June)
Advanced research and personal interviews are conducted with key family members from the finalist family businesses. An extensive report is prepared and submitted to the jury.

Step 4 - Jury meeting and vote (May-June)
The award jury votes individually and anonymously.

Step 5 - Contact the winner and prepare the case study (June-September)
The winner is contacted and a full teaching case study, accompanied by the video, is developed in preparation for the Award Ceremony and presentation of the Winner at the FBN Global Summit, which is held in a different global location each year. 

Step 6 - Award Ceremony (October)
This year, the announcement of the winner, the Award Ceremony, and the session with the winner will take place at the FBN 31st Global Summit, which will be held in Budapest, Hungary, from October 21 to 24, 2020.

Award prizes

Trophy
Chopard has crafted the beautiful IMD Global Family Business Award trophy. Every year, the trophy is individually crafted in its Geneva workshop. Held between two glass plates fixed in a rock crystal base, the trophy represents a tree kept in an elegant pear wood case.

Through its roots firmly planted in the ground and its branches reaching towards the sky, the tree symbolizes the stability, the link between past, present and future, and the continuity of generations. It provides a powerful metaphor of family business spirit that draws its strength from tradition in order to develop the future.

Complimentary learning journeys at IMD
The IMD Global Family Business Center offers two complimentary seats to the winner and one complimentary seat to the finalists to attend either the Leading the Family Business program and/or Leading the Family Office program and/or Navigating your Family Enterprise into the future.