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The endowment continues the Tanoto Foundation’s commitment to studying family enterprises at leading universities
Chicago, Illinois, USA – Media Utrich – May 28, 2021 – The Kellogg School of Management at Northwestern University holds a ribbon-cutting ceremony to celebrate the renaming of the Kellogg Center for Family Enterprises to John L. Ward for family projectsAnd the Which was made possible through a grant from the Tanuto Foundation. Professor John Ward, Emeritus Clinical Professor at Family Enterprise, previously served as Co-Director of the Center.
Ribbon cutting ceremony to celebrate the renaming of the Kellogg Family Enterprises Center to John L. Ward for family projectsAnd the Which was made possible through a grant from the Tanuto Foundation. Pictured from the left: Anderson Tanoto, Tanutu Foundation Board of Trustees; Professor John L. Ward, Honorary Clinical Professor of the Family Foundation; Professor Morton Shapiro, President of Northwestern University; Sukanto Tanoto and Tinah Bingei Tanoto, founders of the Tanoto Foundation; Professor Francesca Cornelli, Dean of the Kellogg School of Management.
“The vast majority of companies around the world are family businesses, and they drive innovation and significant growth in our global economy,” said Francesca Cornelli, Dean of Kellogg. “With generous support from the Tanoto Foundation and the Tanoto family, the Kellogg School of Management will continue to expand its innovative work on a world-class level at the Ward Center, building on the extraordinary foundation laid by Professor Ward.”
Pictured above, from left: Professor John L. Ward, Family Enterprise emeritus clinical professor; And Sokanto Tanuto, co-founder of the Tanuto Foundation.
Mr. Ward has been a guiding force in the development of the renowned Teaching and Research Center, which provides cutting-edge insights and guidance for family-owned business strategies, governance, succession, entrepreneurship, institutions and business culture. As a practical theorist, he conducted extensive research, working with families around the world and bringing that knowledge back into the classroom. Ward is also an accomplished writer, co-author of numerous books and case studies on family businesses. Previously, he served on the Board of Advisors of the Tanuto Foundation.
Pictured from left: Professor Morton Shapiro, President of Northwestern University; Sukanto Tanoto and Tinah Bingei Tanoto, founders of the Tanoto Foundation; Professor John L. Ward, Honorary Clinical Professor of the Family Foundation; Professor Francesca Cornelli, The Dean Kellogg School of Management; And Anderson Tanuto, Tanuto Foundation Board of Trustees.
During the ceremony, Mr. Sukanto Tanoto, who co-founded the Tanuto Foundation with his wife Tina Benji Tanoto in 1981, said: “Family businesses have a special opportunity to make a difference in the world. A typical public company is run quarterly and executives are motivated on a“ short term ”basis. “Family businesses must and should think long-term and embody the spirit of stakeholder capitalism.”
“The main purpose of our gift today to Kellogg is to capture and preserve the essence of what makes Professor John Ward such an outstanding scholar of the family establishment, and to transmit that spirit and wisdom to future generations.”
The Tanoto Endowment Foundation of Northwestern University’s Kellogg School of Management continues its ongoing contributions to the study of family business governance and succession in general globally. With gifts given in 2012 and 2017, the Tanoto Foundation also created Tanuto Center for Asian Family Business Studies and Entrepreneurship At the Hong Kong University of Science and Technology (HKUST). The center aims to bridge the knowledge gap between academics and practitioners as well as policy makers through its programs and activities, while stimulating knowledge creation in Asian family businesses and entrepreneurship.
According to research by HKUST, the role of family businesses globally is important. More than 57% of the U.S. GDP comes from family-owned businesses and an even higher proportion in China of 60%. In Indonesia, the fourth largest country in the world by population and 16thThe tenth The largest economy, more than 50% of local businesses are family-owned.
In his speech at Northwestern University, Mr. Sokanto added, “Professor John Ward’s prolific work with family businesses has been pivotal to companies, leaders and researchers around the world. His evidence-based work has created pioneering insights into the science, family business dynamics, and thriving philanthropy. In this ever-changing world, we need it. “John’s work continues. I am confident that we will continue to build on his teachings through the John L. Ward Center for Family Enterprises.”
Ward Center’s mission is to be a thought leader in family business education. Founded in 1999, the Center pioneered much of what is known about the collective challenges faced by business families and pioneered new ways of thinking about managing and leading family businesses.
The endowment will help the Center expand its educational offerings to:
- Share research insights with leading family businesses around the world
- Conduct pioneering research on the challenges facing entrepreneurial families globally
- Engage scholars and family institutions to fully inform the specialization and to enhance scholarship and field capabilities
- Enhance the family business history library – with a focus on the largest and oldest global families with generational continuity
About the Tanuto Foundation
The Tanoto Foundation is an independent charitable organization founded by Sukanto Tanoto and Tinah Bingei Tanoto based on the belief that every person should have the opportunity to realize their full potential. The Tanuto Foundation got its start in 1981, when Sokanto and Tinah built a kindergarten and elementary school in Bisitang, North Sumatra.
The Tanuto Foundation believes that quality education accelerates equal opportunity. We harness the transformative power of education to realize people’s full potential and improve their lives. The three pillars of the Tanoto Foundation are to improve learning environments, develop future leaders and facilitate research and medical science.
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