{"id":15070,"date":"2021-05-28T02:45:00","date_gmt":"2021-05-28T02:45:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2021\/05\/28\/tanoto-foundation-endowment-enables-renaming-of-northwestern-universitys-kellogg-center-for-family-enterprises-to-john-l-ward-center-for-family-enterprises\/"},"modified":"2021-05-28T02:45:00","modified_gmt":"2021-05-28T02:45:00","slug":"tanoto-foundation-endowment-enables-renaming-of-northwestern-universitys-kellogg-center-for-family-enterprises-to-john-l-ward-center-for-family-enterprises","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2021\/05\/28\/tanoto-foundation-endowment-enables-renaming-of-northwestern-universitys-kellogg-center-for-family-enterprises-to-john-l-ward-center-for-family-enterprises\/","title":{"rendered":"Tanoto Foundation Endowment Enables Renaming of Northwestern University’s Kellogg Center for Family Enterprises to \u2018John L. Ward Center for Family Enterprises\u2019"},"content":{"rendered":"

\n<\/p>\n

<\/p>\n

\n Endowment Continues Tanoto Foundation\u2019s Commitment to the Study Of Family Enterprise at Leading Universities <\/p>\n

CHICAGO, ILLINOIS, UNITED STATES\u00a0–\u00a0<\/span>Media
\nOutReach<\/a>\u00a0–\u00a028 May
\n2021\u00a0– The Kellogg School of Management at Northwestern University held a
\nribbon-cutting ceremony to commemorate the renaming of the Kellogg Center for
\nFamily Enterprises to the <\/span>John L. Ward Center for Family Enterprises<\/a>, <\/u>which was
\nmade possible through an endowment from Tanoto Foundation. \u00a0Professor John Ward,\u00a0Clinical Professor
\nEmeritus of Family Enterprise, previously served as co-director of the center.\u00a0<\/span><\/p>\n


<\/span><\/p>\n

Ribbon-cutting ceremony to commemorate the renaming of the Kellogg Center for Family Enterprises to the\u00a0<\/i>John L. Ward Center for Family Enterprises<\/i><\/a>,\u00a0<\/u><\/i>which was made possible through an endowment from Tanoto Foundation. Pictured from left:\u00a0 Anderson Tanoto, Board of Trustees, Tanoto Foundation; Professor John L. Ward,\u00a0Clinical Professor Emeritus of Family Enterprise; Professor Morton Schapiro, President Northwestern University; Sukanto Tanoto and Tinah Bingei Tanoto, co-founders of Tanoto Foundation; and Professor Francesca Cornelli, Dean Kellogg School of Management.<\/i><\/p>\n

\u00a0<\/p>\n

“The
\nvast majority of businesses around the world are family businesses, and they
\ndrive significant innovation and growth in our global economy,” said Francesca
\nCornelli, Dean of Kellogg. “With the generous support of the Tanoto Foundation
\nand the Tanoto family, the Kellogg School of Management will continue to expand
\non the Ward Center’s innovative, world-class work, building on the
\nextraordinary foundation laid by Professor Ward.”<\/p>\n

<\/p>\n

Pictured above, from left:\u00a0\u00a0Professor John L. Ward,\u00a0Clinical Professor Emeritus of Family Enterprise; and Sukanto Tanoto, co-founder of Tanoto Foundation.<\/i><\/p>\n

Mr.
\nWard has been a guiding force in developing the renowned teaching and research
\ncenter, which provides cutting-edge thinking and guidance for family business
\nstrategies, governance, succession, entrepreneurship, foundations and business
\nculture. A practical theorist, he has conducted extensive research, working
\nwith families worldwide and bringing that knowledge back to the classroom. Ward
\nalso is an accomplished writer, having co-authored many books and case studies on
\nfamily business. He previously served on the Tanoto Foundation’s Board of
\nAdvisors.<\/p>\n

<\/p>\n

Pictured from left: Professor Morton Schapiro, President Northwestern University; Sukanto Tanoto and Tinah Bingei Tanoto, co-founders of Tanoto Foundation; Professor John L. Ward,\u00a0Clinical Professor Emeritus of Family Enterprise; Professor Francesca Cornelli, Dean Kellogg School of Management; and Anderson Tanoto, Board of Trustees, Tanoto Foundation.<\/i><\/p>\n

\u00a0<\/p>\n

During
\nthe ceremony, Mr. Sukanto Tanoto, who co-founded Tanoto Foundation with his
\nwife Tinah Bingei Tanoto in 1981, said: “Family businesses have a special
\nopportunity to make a difference in the world. \u00a0A typical public company is run quarter on
\nquarter and executives are incentivized based on ‘short-termism’. Family businesses
\nshould and must think long-term and embody the spirit of stakeholder
\ncapitalism.”<\/p>\n

\u00a0<\/p>\n

“The
\nmain purpose of our gift today to Kellogg is to capture and sustain the essence
\nof what makes Professor John Ward a preeminent scholar in family enterprise, and
\nto pass this spirit and wisdom to future generations.”<\/p>\n

Tanoto
\nFoundation’s recent endowment to the Kellogg School of Management at
\nNorthwestern University continues its ongoing contributions to the study of
\nfamily business governance and succession at large globally. Through gifts made
\nin 2012 and 2017, Tanoto Foundation also established the Tanoto Center for Asian Family Business and Entrepreneurship
\nStudies<\/a>
\nat the Hong Kong University of Science and Technology (HKUST). The center aims
\nto bridge the knowledge gap between academics and practitioners as well as
\npolicymakers through its programs and activities, while spurring knowledge
\ncreation in Asian family businesses and entrepreneurship.<\/p>\n

\u00a0<\/p>\n

According
\nto research conducted by HKUST, the role of family business globally is
\nsignificant. Over 57% of the U.S. GDP comes from family owned businesses and an
\neven higher rate in China at 60%. In Indonesia, the world’s fourth most populous
\nnation and 16th<\/sup> largest economy, more than 50% of local businesses
\nare family owned.<\/p>\n

\u00a0<\/p>\n

In
\nhis address at Northwestern University, Mr. Sukanto added:\u00a0 “Professor John Ward’s prolific work with
\nfamily businesses has been pivotal for companies, leaders and researchers
\naround the world.\u00a0 His evidence-based
\nwork has created groundbreaking insights into the science and dynamics of
\nthriving family businesses and philanthropies.\u00a0
\nIn this constantly changing world, we need John’s work to continue.\u00a0 I’m confident that we’ll continue to build upon
\nhis teachings through the John L. Ward Center for Family Enterprises.”<\/p>\n

\u00a0<\/p>\n

The
\nmission of the Ward Center is to be the thought leader in family enterprise
\neducation. Established in 1999, the center has pioneered much of what is known
\nabout the collective challenges business-owning families face and led new ways
\nof thinking about the management and leadership of family enterprises.<\/p>\n

The endowment
\nwill help the center expand its educational offerings to:<\/p>\n