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Ms. Cindi Bigelow, COO and third generation in her family to head the R.C. Bigelow Tea Company, located in Fairfield, CT, believed one strategy to move her business forward would be to attract a younger audience for her product line. Hot tea appeals primarily to women 45+ who typically drink the beverage for its soothing effects. A test market, designed to make hot tea more appealing to a college-age audience, was conducted at a nearby university by a Students in Free Enterprise (SIFE) team drawn from the chapter's membership. Key words: Target audience, market segmentation, demographics, market research, promotion mix, advertising, copy development, media selection.

NEJE Editors interview Cindi Bigelow: director of activities at Bigelow Tea

NEJE Editors interview Cindi Bigelow: director of activities at Bigelow Tea

What are the unique challenges for daughters who inherit ownership in family enterprise? How does their path to ownership influence their impact? What dilemmas are associated with their ownership roles? How can women best respond to the challenges of ownership? This chapter offers preliminary answers to these questions, including suggestions for enhancing the ability of women owners—especially daughters—to engage constructively with the businesses they inherit.

We focus on daughters serving in three distinctive roles: (1) as “operating owners” working in the family company and pursuing careers and leadership roles in management; (2) as “governing owners” serving as chairs or directors on the board of the business, or as members of other governance forums such as a family council, an owners’ council or the board of the family’s philanthropic foundation; and, (3) as “engaged owners” who are neither in operational or governance roles but are keenly connected to the enterprise’s success and continuity.

Our fundamental thesis is that the active participation of daughters as operating, governing or engaged owners enhances the continuity of the enterprise by expanding the pool of managerial and governing talent available to the business and by fostering inclusion, commitment and unity among the owners. We conclude by describing three interventions that can facilitate the dilemmas daughters face as owners and empower them to engage constructively with the family enterprise: (1) education, (2) mentorship and network support, and (3) well designed structures and roles.