Inside the Multi-Generational Family Business

Inside the Multi-Generational Family is an inside look at how familial relationships affect the success or the failure of the family business. Many family business owners encounter conflict between siblings, children, and other relatives—especially when they're all involved with the business. The author's message is simple: family businesses today are saddled with 'generational stack-up,' or the convergence of several generations as owners, managers, employees, and shareholders, often without even knowing it. Each generation has its own work style, biases, and approach to money and business. Through detailed analysis of the various generations—from the GI/Silent Generation, the Depression-era members, and their Baby Boomer children to the Gen X and Gen Y and their roles in the changing structure of the family business—and the characteristics that define them in the family business, a more comprehensive understanding of the dynamics of the family in the family business can move the multi-generational family business from chaos and conflict to true collaboration and improved performance.