Generation to Generation Ch 2 Family Developmental Dimension

1
Generation to Generation Ch 2Family
Developmental Dimension

• Family key building block for society
• Family interactions described over time
• Entry of new generation
• Passing of authority
• Relationships between siblings and cousins
• Effect of marriage and retirement
• Focus on family life-cycle

2
Family Developmental Stages

• Each stage driven by biological aging with focus
  on business
• Young business family stage
• Entering the business stage
• Working together stage
• Passing the baton stage

3
Young Business Family Stage

• Adult generation over 40 now
• Children, if any, under 18

4
Young Business Family Stage, Cont.

• Key Challenges
• Creating workable marriage enterprise
• Making initial decisions about the relationship
  between work and family
• Working our relationships with extended family
• Raising children

5
Entering the Business Stage

• Senior generation now between 35 and 55
• Junior generation in teens and 20s

6
Entering the Business Stage, Cont.

• Key Challenges
• Managing mid-life transition
• Separation and individuation of younger
  generation
• Facilitating good process for initial career
  decisions (do children join firm?)

7
Working Together Stage

• Two or more generations working in business at
  same time
• Senior generation between 50 and 65
• Junior generation between 20 and 45

8
Working Together Stage, Cont.

• Key Challenges
• Fostering cross-generational cooperation and
  communication
• Encouraging productive conflict management
• Managing the three generation working together
  family

9
Passing the Baton Stage

• Senior generation is age 60 and above
• Two opposing forces
• Senior generation's difficult leaving
• Junior generation's difficulty waiting

10
Passing the Baton Stage, Cont.

• Key Challenges
• Senior generation disengagement from business
• Need succession plan
• Must acknowledge this stage has been reached
• Impediments to peaceful transitions
• Succession conspiracy

11
Passing the Baton Stage, Cont.

• Key challenges, Cont.
• Generational transfer of family leadership
• Physical events can trigger
• Emotional issues
• Senior wants to hang on