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Generation to Generation: Life Cycles of the Family Business
Generation to Generation presents one of the first comprehensive overviews of family business as a specific organizational form. Focusing on the inevitable maturing of families and their firms over time, the authors reveal the dynamics and challenges family businesses face as they move through their life cycles. The book asks questions, such what is the difference between an entrepreneurial start-up and a family business, and how does one become the other? How does the meaning of the business to the family change as adults and children age? How do families move through generational changes in leadership, from anticipation to transfer, and then separation and retirement? This book is divided into three sections that present a multidimensional model of a family business. The authors use the model to explore the various stages in the family business life span and extract generalizable lessons about how family businesses should be organized.
320 pages, Hardcover
First published January 1, 1997
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Displaying 1 - 7 of 7 reviews
October 15, 2021
One of the most important books I've read on family firm management. The author highlights the importance of understanding the three systems that work in tandem in family firms: ownership, the family, and the business. Each of these will go through different phases at different times, making it an extremely complex (but powerful) system.
The book operationalizes a lot of the theories surrounding family firms by suggesting a few frameworks that can help understand and mitigate the challenges associated with managing these firms. The book puts a few handful case studies as an introduction to each chapter and as a way to explain the ideas that follow.
In light of my own research, stewardship exit strategies in family firms, I found the book helpful in developing a few blueprint ideas associated with the transfer of decision making from owner to second generation. For example, does the owner prefer a controlling owner or a sibling partnership?
I highly recommend this book for owners who invision their firms in the future as a family business. Or for family members who struggle to understand the dynamics of their own family firms.
The book operationalizes a lot of the theories surrounding family firms by suggesting a few frameworks that can help understand and mitigate the challenges associated with managing these firms. The book puts a few handful case studies as an introduction to each chapter and as a way to explain the ideas that follow.
In light of my own research, stewardship exit strategies in family firms, I found the book helpful in developing a few blueprint ideas associated with the transfer of decision making from owner to second generation. For example, does the owner prefer a controlling owner or a sibling partnership?
I highly recommend this book for owners who invision their firms in the future as a family business. Or for family members who struggle to understand the dynamics of their own family firms.
September 13, 2022
Este livro é referência e inspiração de estudos sobre empresas familiares, ele propriamente dito foi escrito de forma que lembra muito um artigo científico, e é baseado em experiências descritas então não há ficção, embora o cunho científico possa ser mais pesado de ler, as informações são diretas e assertivas e as sugestões e práticas sugeridas são possíveis de serem aplicadas no dia seguinte.
November 4, 2017
Exceptional resource for anyone that is a part of, or working with, a family enterprise.
May 10, 2019
If you are committed to learning about and running your Own family business or just have a niche academic interest on the topic (I’m surprised this book even exists but thankful it does) - this book will act as a very handy manual to highlight the challenges and potential solutions based on what appears to be an enormous series of studies on family businesses. It is definitely one you will read once and have to go back to as a reference book in order for it to be helpful. My main takeaway was that 80% of running a successful multigenerational family business is tremendous relationship management with long term foresight.
July 1, 2010
My cousins all have my "cliff notes" :)
Thoughtful family business members do not need a developmental model to tell them that things are always changing but rather to illuminate the likely consequences of these inevitable changes throughout their complex, interconnected systems. As a result, they may be able to improve the chances that their family business will continue to sustain them and the people they love, from generation to generation.
Thoughtful family business members do not need a developmental model to tell them that things are always changing but rather to illuminate the likely consequences of these inevitable changes throughout their complex, interconnected systems. As a result, they may be able to improve the chances that their family business will continue to sustain them and the people they love, from generation to generation.
October 4, 2013
One of the best books written on family businesses.
May 21, 2014
Great analysis for different family businesses and the different stages of development of those businesses. I would reccomend this to any member of a family business.
Displaying 1 - 7 of 7 reviews