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Generation to Generation: Life Cycles of the Family Business

Book Description

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 as: 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.

Table of Contents

  1. Title Page
  2. Copyright Page
  3. Table of Contents
  4. Preface
  5. Acknowledgments
  6. Introduction - A Developmental Model of Family Business
  7. PART I - The Three-Dimensional Developmental Model
    1. 1 - The Ownership Developmental Dimension
      1. Thinking Developmentally about Ownership
      2. The Ownership Stages of the Family Business
      3. The Controlling Owner Stage
      4. The Sibling Partnership Stage
      5. The Cousin Consortium Stage
      6. NOTES
    2. 2 - The Family Developmental Dimension
      1. Thinking Developmentally about Families
      2. The Family Developmental Stages
      3. The Young Business Family
      4. The Entering the Business Family
      5. The Working Together Family
      6. The Passing the Baton Family
      7. Renewing the Cycle
      8. NOTES
    3. 3 - The Business Developmental Dimension
      1. Thinking Developmentally about Business
      2. The Start-Up Business
      3. The Expansion/Formalization Business
      4. The Mature Business
      5. Moving through the Stages of the Business Dimension
      6. NOTES
  8. PART II - Four Classic Family Business Types
    1. 4 - Founders and the Entrepreneurial Experience
      1. Factors Leading to the Founding of a Business
      2. The New Venture’s Transformation into a Family Company
      3. Controlling Owner-Young Business Family—Start-Up Business
      4. NOTES
    2. 5 - The Growing and Evolving Family Business
      1. Novelty Imports, Inc.
      2. Ownership Issues
      3. Family Issues
      4. Business Issues
      5. NOTES
    3. 6 - The Complex Family Enterprise
      1. Hartwall Group Ltd.
      2. Ownership Issues
      3. Family Issues
      4. Business Issues
      5. NOTES
    4. 7 - The Diversity of Successions: Different Dreams and Challenges
      1. Lombardi Enterprises
      2. How the Shared Dream Is Negotiated
      3. Understanding the Diversity of Successions
      4. NOTES
  9. PART III - Managing the Developing Family Business
    1. 8 - Structures and Plans for Guiding Development
      1. The Ownership Dimension
      2. The Family Dimension
      3. The Business Dimension
      4. Coordinating Structures and Plans
      5. NOTES
    2. 9 - Consulting with Family Businesses
      1. Phases of Consultation
      2. Interventions across Developmental Stages
      3. NOTES
  10. Conclusion - Lessons from the Life Cycles
  11. References
  12. Index