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Inside the Multi-Generational Family BusinessMy Child, My Boss

Inside the Multi-Generational Family Business: My Child, My Boss [Most of the previous chapters have talked about the tricky balance business families have to strike in sharing responsibilities and finances among generations—but the stack-up symptoms so far have involved the unwillingness of older generations to part with control and money. What happens when the balance of power is on the other side, with the younger generation? What seemed unlikely in the past has become a reality for many family businesses today, as later generations start and grow businesses joined by older family members. This blend of new and old can work very well, especially when families appreciate what each member and generation brings to the table, whether skills, experience, or perspective. But for too many families the flipped roles become a source of stress and conflict, harming both the business and the family. This chapter will help families take steps to reduce that tension and harness the resources each member brings most effectively.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Inside the Multi-Generational Family BusinessMy Child, My Boss

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Publisher
Palgrave Macmillan US
Copyright
© Palgrave Macmillan, a division of Nature America Inc. 2011
ISBN
978-0-230-11184-4
Pages
107 –122
DOI
10.1007/978-1-137-51101-0_7
Publisher site
See Chapter on Publisher Site

Abstract

[Most of the previous chapters have talked about the tricky balance business families have to strike in sharing responsibilities and finances among generations—but the stack-up symptoms so far have involved the unwillingness of older generations to part with control and money. What happens when the balance of power is on the other side, with the younger generation? What seemed unlikely in the past has become a reality for many family businesses today, as later generations start and grow businesses joined by older family members. This blend of new and old can work very well, especially when families appreciate what each member and generation brings to the table, whether skills, experience, or perspective. But for too many families the flipped roles become a source of stress and conflict, harming both the business and the family. This chapter will help families take steps to reduce that tension and harness the resources each member brings most effectively.]

Published: May 17, 2017

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