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Inside the Multi-Generational Family BusinessControl beyond the Grave

Inside the Multi-Generational Family Business: Control beyond the Grave [Members of the Silent and GI generations have been through a lot—an economic depression, several wars, and a decades-long booming global economy followed immediately by a major recession. On the one hand, this has resulted in a resilient, “can-do” cohort praised by many as “The Greatest Generation.” On the other, the stress and uncertainty these groups have gone through creates mindsets that can cause conflict for them and those around them, including in family businesses. Business owners from these generations sometimes struggle to relinquish control, having nurtured the companies they founded for decades. Their clinging to control can stifle the growth of later generations, the very people expected to take the firm’s reins. What’s more, it’s a pattern that tends to repeat itself from generation to generation. Thus addressing the generational stack-up dynamics reflected in this symptom is crucial to gaining control of it and achieving what all generations involved wish for: the healthy continuity of the business.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Inside the Multi-Generational Family BusinessControl beyond the Grave

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References (2)

Publisher
Palgrave Macmillan US
Copyright
© Palgrave Macmillan, a division of Nature America Inc. 2011
ISBN
978-0-230-11184-4
Pages
29 –43
DOI
10.1007/978-1-137-51101-0_2
Publisher site
See Chapter on Publisher Site

Abstract

[Members of the Silent and GI generations have been through a lot—an economic depression, several wars, and a decades-long booming global economy followed immediately by a major recession. On the one hand, this has resulted in a resilient, “can-do” cohort praised by many as “The Greatest Generation.” On the other, the stress and uncertainty these groups have gone through creates mindsets that can cause conflict for them and those around them, including in family businesses. Business owners from these generations sometimes struggle to relinquish control, having nurtured the companies they founded for decades. Their clinging to control can stifle the growth of later generations, the very people expected to take the firm’s reins. What’s more, it’s a pattern that tends to repeat itself from generation to generation. Thus addressing the generational stack-up dynamics reflected in this symptom is crucial to gaining control of it and achieving what all generations involved wish for: the healthy continuity of the business.]

Published: May 17, 2017

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