This workshop will introduve insights from Prof. Kallmuenzer’s research and teaching on the paradox of tradition and innovation in business, a topic that is more relevant now than ever with the technological advances/AI and their potential for innovation. The insights are illustrated with examples from Prof. Kallmuenzer’s research in entrepreneurship and family business and focusing particularly on the role of different stakeholders in handling this challenge. The session will continue with an open discussion and role play of participants, forming imaginary parties in the room who together construct business and the tradition/innovation paradox: owners (i.e., often a family), managers (including non-family managers) and employees (an often only little considered important stakeholder group). The discussion is also extended to the relevance of CSR/sustainability in this question of how to move forward, also being a key strategic focus of Prof. Kallmuenzer’s business school, Excelia from La Rochelle, France.