The LEGO group: Family business resilience (B)

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Standard Chartered’s Tanuj Kapilashrami oversaw a fundamental workforce transformation from a jobs-based to a skills-powered model. Here she shares five key steps to make the transition.

Family offices are no longer quiet custodians of wealth. Based on the IMD-FBN Global Family Office Report - one of the most comprehensive family-first studies of its kind - they are evolving into multidimensional platforms that anchor both financi...

IMD’s David Bach and Julia Binder reflect on WEF 2026, global power shifts, values-based realism, and quiet corporate activism behind the scenes.

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Transformational leadership is recognized for bringing family members together; however, its role in multi-unit complex family firms that rely on nonfamily managers is poorly theorized. We find that transformational family chief executive officers...

The case describes Hilti's transformation from a premium tool maker to a solution provider in commercial construction, while keeping its innovation leadership. Confronting industry pain points such as lost tools, downtime, safety risks and thin margins, Hilti created Fleet Management FM. This subscription bundles NURON tools, repairs, loaners, theft coverage, and Hilti's ON!Track asset management system into predictable monthly payments. IoT connectivity delivers real-time insights on utilization, battery health and maintenance. Moving towards end-to-end optimization E2E, FM digitally connects warehouses, vans and administrative processes, unlocking measurable productivity and margin improvement. FM also operationalizes circularity: productivity analyses right-size tool parks often by 2030 fewer assets, tools are refurbished or donated for a second life, and non-usable materials are recycled via a global network of local partners. The case illustrates how business model innovations with global coverage necessitate fundamental organizational transformations that can take many years. It allows students to develop concise, concrete and convincing value propositions in a B2B market environment. It also facilitates a discussion on solution readiness offering, supplier, contract, and customer and the identification of a sustainable competitive advantage based on the VRIO framework.

As in any conflict resolution, tackling problems in family firms begins by identifying where the problem originates and its precise nature.

For the team at Oculis, the announcement of the new USD 100 million fundraising could not have come at a more opportune moment. The biopharmaceutical startup was founded in 2017 to transform ophthalmology by developing not only original delivery mechanisms but also groundbreaking treatments for eye diseases like Diabetic Macular Edema (DME). Established by seasoned industry experts, Oculis aimed to replace invasive eye treatments with more accessible, patient-friendly solutions such as topical eye drops. The initial research conducted in a laboratory in Iceland led to a pipeline of drug candidates, now at various stages of clinical testing. The firm continued to ramp up thanks to successive rounds of financing from top investors and partners, totaling more than USD 500 million at the end of 2024. However, it also faced some dramatic events, including the sudden death in early 2024 of its CTO. The company continued to scale, strategically balancing clinical advancements with regulatory milestones. The recent secondary offering on Nasdaq would accelerate the clinical development pipeline, in particular its novel neuroprotective candidate Prisosegtor (OCS-05), OCS-01, a topical eye drop for DME, and OCS-02, a topical biologic eye drop candidate for dry eye disease. Oculis now grappled with a number of strategic decisions, with two questions in particular concerning the team. Should it rely mostly on outsourcing production to a contract development and manufacturing organization (CDMO) or develop its own in-house manufacturing capabilities? There were strong benefits and drawbacks to both approaches. It faced a related dilemma with its product pipeline. Should it continue to rely on its own R&D, as in the past, or should it consider acquiring technologies outside, through M&A activities?

South Korea’s innovation outputs are failing to translate into higher levels of competitiveness. Here’s how other innovation-driven economies can take heed