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AdditionalPraisefor BorrowedfromYour Grandchildren:TheEvolutionof100-Year FamilyEnterprises AdvancePraisefrombusinessfamilies Onceagain,DennisJafferevealsatreasuretroveofstoriesforfamiliesandadvisorsthatdemonstrateshowgenerationscanbenefitfromteachingandlearningfromoneanother.Dennissharespracticalexamplesandbest practicesusedbyfamilyenterprises,includingfamilycouncils,familyoffices,andfamilyfoundations,strategicallydesignedtomovethefamily,itsbusinessanditswealthforward–generationtogeneration.Whetheryou arejustbeginningyourjourneyorhavemultiplegenerationsinplay,thisbookisfilledwithinsights,ideas andactionablenextstepstoturnafamilyenterpriseintoafamilylegacy.
—DirkJunge RetiredChairman,Pitcairn
Ownersoffamilybusinesseswithadesireformulti-generationalendurancefaceacomplexandnever-ending tasktopursuebothcommercialandfamilialsuccess.DennisJaffeandhisteamhavescouredtheworldfor successfulexemplarswhosepracticeshaveallowedthemtosurpassnormalexperienceandexpectations.This isanexceptionallyvaluablesourceofinspirationandguidanceforfamilybusinessownersandadviserswho wishtopursueandrefineeffectivemulti-generationalstewardship.
—AlexanderScott
4th generationfamilybusinessowneranddirector,FBN-International
WhenIwantauthoritative,wise,andknowledgeableinsightonfamilybusinesses,ProfessorJaffeismyone-stop shoppingcenter.TherangeofbothknowledgeandwisdomthatJaffepossessesmakeshimanationaltreasure. BorrowedfromYourGrandchildren isasynthesisofthisknowledgeandwisdom.
—MitziPerdue (Mrs.FrankPerdue) speaker,businessowner,authorof HowtoMakeYourFamilyBusinessLast
WeallneedtogiveDennisrecognitionandgratitudeforhistremendousresearchandwisdomaroundhow wecanallleadourcompaniesinawaythatwillleavetheworldabetterplace.Ibelievefamilybusinessis thefoundationofsocietyaroundtheworldandisthebestwaytobringsocialchangeforthegoodduetoits multi-generationalnature.Weallthankyoufortheworkthatwillberecognizedforgenerationstocomeand weareforevergrateful.
—CharlieLuck President/CEOLuckCompanies
Awealthofpracticalinsightsforfamiliesandtheiradvisorsbasedonsuccessfactorsdistilledfrom 4th generationandolderfamilybusinesses.Uniqueconceptofthe“generativefamily”toexplainhowfamilies re-inventandadaptthemselvesandtheirbusinesses.Over100relatableandhonestfamilystoriestoillustrate andreinforcethevariousconcepts.
—YuelinYang DeputyGroupMDofIMCIndustrialGroup(andnephewofthefounder)
NoonebutDennisandhisteamhaveeverinterviewedsomanysuccessful100-yearfamilyenterprisesfrom allovertheworld,anddistilledtheirrecipeforsuccessinsuchanengagingandeasytoreadbook!The real-lifestoriesfrommajorbusinessfamiliesaroundtheworld,combinedwiththeinsightsandbestpractices thatDennisbringsinthiswell-structuredbook,make BorrowedfromYourGrandchildren aninvaluable resourceforeveryfamilybusinessintheworld,beitsmallorlarge,1stgenor5thgen!Ican’twaittogetall myfuturegrandchildrenacopyofthebookfortheir18thbirthday!
—EdouardThijssen
CEOofTrustedFamily,leadingonlinegovernanceplatformforfamilybusinesses,5th generation familymember
Dennisfocuseson“generativefamilyenterprises”aroundtheworldwithcommonattributes. Borrowedfrom YourGrandchildren isaninspiringbookforourTanfamily,nowwithfourgenerations.Itisourdream andourgoaltoevolveintoa100-year“generative”familyenterprise.Thisbookgivesusgreatinspiration andreferencesindevelopinglegacyandstewardshipofourfamilyandbusiness.
—SunnyTan EVP,AccessoriesGroup,LuenThaiHoldingsLtd.
IhavebeenagreatfollowerofDennisJaffe’sworkoverthepast20years.Asa4th generationfamilymemberof a100+-year-oldbusiness,hisworkhasbeenindispensabletohelpingourfamilyandmanyotherstonavigate theopportunitiesandchallengesofsurvivingandthrivingthroughfivegenerationsofownershipandbeyond. BorrowedfromYourGrandchildren isnodifferent.Dennisclearlydefineshowotherfamilieshavesurvivedandthrivedinawaythatmakesitpossibleforotherstofollowintheirfootsteps.Ihavealwaysbelieved thattohaveasuccessfulfamilybusiness,onemusthaveagoodsenseofhumorandshort-termmemory,oras inDennis’swords,resilience.Itiseasy,inafamilybusiness,tofocusonthebusinessandneglectthefamily. Still,Dennis’sresearchprovesthatonemustfocusonthefamilyreturns:Legacy,Social,Human,Financial, Capital.Withoutsuccessintheseareas,thebusinesswillnothavethesolidfoundationitneedsinthefamily toattractandretainthetoptalentrequiredforthebusinesstosucceedforthesecond100years.Encouraged byDennis’swork,ourfamilyhasevolvedourthinking,cultivatingandcaringforthefamilyfarmorethan weeverhavebefore.
Somuchofthefamilybusinessresearchprovidesinsightsinto1st ,2nd ,and3rd generations;however,not muchresearchhasbeendonefor4th generationbusinessesandbeyond.Tohavesurvivedandthrivedforfour generationsisremarkableanddifficult.Itisafairlyisolatingexperience,astherearesofewpeersavailable tosharesuccessesandpotentialpitfalls.Dennis’sworkprovidesaclearpathandconnectsthosefamiliesout therewhoareonthelonelyjourneyofbeinga5th generationfamilybusinessandcanpavethewayforthose whowanttogetthere.
—MeghanJuday Non-ExecutiveViceChair,IdealIndustries
AdvancePraisefromFamilyAdvisors Astheworldcontinuestobecomemoreinterconnectedandcomplex,generativefamiliesneedtoevolveand adapttogether.DennisJaffehaswrittenaninformativebookforthe21st century.Whilethecorepillarsof familyvaluesandfamilyconstitutionsremainthesame,thisbookhighlightstheimportanceofbuildinga resilientculturewhilebeingabletoanticipateuncharteredwatersandemergeevenstronger.
—PeterK.Scaturro
formerCEOofCitigroupGlobalPrivateBankandformerCEOofUSTrustCompany
Inthistourdeforce,DennisJaffedebunksthemyththateverybusinessfamilyisdestinedtosufferthefate of“shirtsleevestoshirtsleevesinthreegenerations”.Filledwithrichandengaginginterviewswithmembers ofthrivingmulti-generationalfamilies,Jaffeandhisresearchteamexpertlyidentifythepracticalsecretsof successofthemanyfamiliesthatbeattheoddsandcreatelong-lastinglegacies.Thisbookisdestinedtobecome
aclassicforeveryfamily-andfamilyadvisorsthereto-thataspirestobebecomealong-lived,flourishing, generativefamily.
—TomMcCullough
ChairmanandCEO,NorthwoodFamilyOffice,Co-Author, WealthofWisdom:TheTop50Questions WealthyFamiliesAsk
Anamazingresourceformulti-generationalbusinessfamiliesandprofessionalsthatadvisethem.Ilovethe premiseofthebook.Ratherthanfocusingonallthethingsthatcangowrong,trytolearnasmuchasyou canfromthefamiliesthathavealreadysucceededformorethan100years.Andthestories–hearingthemin thewordsofsomanyfamiliesfromaroundtheworld–areinspiring.Eachfamilyisclearlyunique.Atthe sametime,seeingcommonpracticesandbehaviorsthathavehelpedshapesomanyincrediblefamilylegacies isfascinating.Icouldn’tputthebookdown!
—J.RichardJoyner President,TollesonWealthManagement
Transgenerationalsuccessmaybeelusivebut BorrowedfromYourGrandchildren shinesalightonthe factpatternsbehindthosefamilieswhohaveachievedit.Jaffe’sresearch-basedstorytellingisanapproachable andtangibleguideforfamilieslookingtoleveragethelessonslearnedbythosewhowentbeforethem.
—JimCoutré Familyofficeandphilanthropyprofessional
Discoveratreasuretroveofinsightsintowhatformstheessenceofhighlyenduringandgenerativecentury-old familyenterprisesinyetanothergroundbreakingresearchbyoneofthemostrenownedandinfluentialfamily enterpriseadvisorsofourtime.
—Aik-PingNg Co-HeadofFamilyOfficeAdvisory,FamilyGovernanceandFamilyEnterpriseSuccession,Asia Pacific,HSBCPrivateBanking
DennisJaffe’sin-depth,qualitativeresearchonwhatmakesfamilyenterprisespassthetestoftimeoffers valuableandactionableinsightsforfamiliesandtheadvisorsthatservethem.Thisisamustread.
—ArneBoudewyn,PhD HeadofInstituteforFamilyCulture,AbbotDowning
ThroughdecadesofexperienceandpainstakingresearchJaffehascreatedthedefinitiveworkon multi-generationalwealth.Inthisveryapproachablebook,bothfamiliesandthosewhoadvisethemwillfind insightsandpracticalguidanceonhowtosuccessfullymanagethechallengesassociatedwithsignificant wealth. BorrowedfromYourGrandchildren isaninstantclassicandasignificantcontributionfor thoseofuswhoworkwithultra-affluentfamilies.
—JohnZimmerman President,AscentPrivateCapitalManagementofU.S.Bank
DennisJaffehasoutdoneevenhimself.Hislatestbook, BorrowedfromYourGrandchildren, buildsonthe exhaustiveinterviewshehasconductedduringhisongoingresearchintowhatmakesasuccessful“100year” family-ownedbusiness.Nowheturnstothefamiliesthemselves:whatmakesasuccessful100-yearfamily?He listsandexplainsfactorsthatdistinguishthesefamilies.Iespeciallylikedhisinclusivedefinitionof“family”. Thesegreatfamilieswerenotfamiliesinthesenseofbeingahousehold;theycanbeseenastribes,orclans, withmembersdispersingbutsharingcommonvaluesandpurposeasbusinessandfinancialpartners.Their definitionoffamilyisinclusiveandexpansive,andoftenextendstoincludetheiremployees,keyadvisors, andeventheirhomecommunity.Foranyonecuriousabouthowgreatfamiliessucceedthiscollectionoffamily storiesisaninvaluableresource.
—BarbaraRHauser Editor-in-Chief,InternationalFamilyOfficesJournal
Atourdeforceinresearchandnarrativesociologyforanyprofessionaladvisorwantingtounderstandthe DNAofsuccessfulmultigenerationalbusinessfamilies.Jaffe’sworkprovidesacolorfulmosaicabouthow thesediversemultigenerationfamiliesthinkabouttheirwealth,theirvaluesandresponsibilitiestowardtheir communities.Documentingintechnicolortheevolutionandfabricofthesesuccessfulfamilies,asJaffehasso welldone,willarmanyadvisorwithauniqueframeworkwithhowtoaddmorevaluetothefamiliesweserve. Thechapteronfamilyphilanthropyisbothsimultaneouslyrefreshingandfascinatingtoreadandparticularly relevanttodayaswegrapplewithaffluenceinAmerica–Jaffekeenlypaintsaclearpicture,withoutjudgment, oftheirunderstandingandmoralcommitmenttotheresponsibilityofgivingbacktosociety.
Noonehasmoreappreciationandunderstandingofthecomplexbrewthatmakesforasuccessfullegacy familythanDennisJaffe.Grantedtheprivilegeofinterviewingmultiplemembersoffamiliesthathaveprosperedforover100years,Jaffedistillsthefundamentalsoftheirsuccess.Astrongsenseofmissionandvalues coupledwithrobustgovernanceandconcerteddevelopmentofthenextgenerationarethefactorsthatcharacterizethesefamilies. BorrowedfromYourGrandchildren isanexciting,studiouslyresearchedroadmap whetheryourbusinessisjuststartingoutorhasbeenaroundforgenerations.Anequallyterrificreadforthose ofuswhoworkwiththesefamilies.Researchersalwayslookforpatternstohelpmakepredictions.ThepatternsJaffeuncoversareworthrevisitingaseverygenerationtransitionsintoleadingthefamily,thebusiness, orboth.
—MadelineLevine,PhD
NYTbestsellingauthorof ReadyorNot,ThePriceofPrivilege, and TeachYourChildrenWell
Excellentresearchandreviewofover100successfulfamilybusinessestodeterminewhatmakesthemsuccessful overgenerations;inanonjudgmentalandnonevaluativemanner.Terrificguideforfamilieswhowishtobeat the“shirtsleevestoshirtsleeves”curse,andprofessionalswhoassistintheirjourney.
—PatSoldano President,FamilyEnterpriseUSA
Familiesandbusinesshavebeenthebuildingblocksofsuccessfulsocietiesaroundtheworld.Theyhavetheir ownculturalconstruction,attributes,andfunctionalities.Dennisandhiscolleaguespresentawealthof experientialstoriesformingatreasuretroveofpracticalexamplesofwhatdenotesagenerativefamily.The keycomponentisstewardship.Thesefamiliessharewithustheimportanceandskillsnecessarytobegreat stewardsoffamilywealth.
Muchhasbeenwrittenoverthepast30yearsaboutfamilies,business,ownership,andwealth.This bookenablesthereadertolearnthroughhistorical,organizational,andpracticalanalysisthekeycomponents ofsuccessfulfamiliesofwealth.Indeed,thesefamiliesnotonlytelltheirownstories,buttheyhighlightand underscoretherelevanceandimportanceoftheresearch,itsfindings,andconclusions.Aprimerforall,a learningtool,aresourceforreflectionandwisdom.
—LaurentRoux founderandCEOofGallatinWealthManagement,andapartnerintheWillowStreetGroup, afamilyofficeandindependentregulatedWyomingtrustcompany
Atourdeforceinresearchandnarrativesociologyforanyprofessionaladvisorwantingtounderstandthe DNAofsuccessfulmultigenerationalbusinessfamilies.Jaffe’sworkprovidesacolorfulmosaicabouthow thesediversemultigenerationfamiliesthinkabouttheirwealth,theirvaluesandresponsibilitiestowardstheir communities.Documentingintechnicolortheevolutionandfabricofthesesuccessfulfamilies,asJaffehasso welldone,willarmanyadvisorwithauniqueframeworkwithhowtoaddmorevaluetothefamiliesweserve. Thechapteronfamilyphilanthropyisbothsimultaneouslyrefreshingandfascinatingtoreadandparticularly relevanttodayaswegrapplewithaffluenceinAmerica–Jaffekeenlypaintsaclearpicture,withoutjudgment, oftheirunderstandingandmoralcommitmenttotheresponsibilityofgivingbacktosociety.
—RoyP.Kozupsky,Esq.,RimonLaw
AdvancePraisefromFamilyResearchers: Thedefinitionofopusis“alarge-scalecreativework”...whichaptlydescribes BorrowedfromYourGrandchildren.Dennisandhisdedicatedresearchteamhavecapturedatreasuretroveoflearningsfrom“thebest ofthebest”.Oneverypage,theyhavehighlightedtheresilience,thehardiness,andtheentrepreneurialmindsetcharacteristicofthesegenerativebusiness.Importantly,theyhaveincludedwaysthatfamiliescantake action.Thisisnotonlyaliteraryopus...itisagifttothevastandsignificantglobalenterprisingfamily community.
—JustinB.Craig VisitingProfessorofFamilyEnterprise,KelloggSchoolofManagement,NorthwesternUniversity
Alandmarkandalongoverdue“mustbook”whichallthoseworkingandinvolvedwithfamilyfirmsshould readtounderstandwhatmakesfamilybusinesscomplexandattimeschallenging.Introducinganinnovative concept“generativefamily”,hefirmlyestablishesaconceptualframeworkforunderstandingthemultigenerationalgrowthanddevelopmentoffamilycompanies.
—ToshioGoto Researchprofessor,JapanUniversityofEconomics
DennisJaffehasproducedaclassicworkofgreatinsightandrelevancenotonlyformanagersandconsultantsoffamilyfirmsbutforallstudentsinterestedinthebreedasitprogressesacrossthegenerations. Intoday’sclimateofopportunisticexecutivesdrivenbyquarterlyreturns,along-termorientationofevolving businessstewardshiprepresentsafarmorepromisingwayforward.Dr.Jaffeshowsusthepathwithconvincing argumentsandsuperbexamples.Icannotrecommendthisbookmorehighly.
—DannyMiller
ResearchProfessor,Co-authorof ManagingfortheLongRun:LessonsinCompetitiveAdvantagefrom GreatFamilyBusinesses
DennisJaffehaswrittenathoughtfulbookwhichiseye-opening,extremelyinteresting,andhelpful.Using hisbackgroundinsociology,hetakesusintothelivesofwealthyfamiliesandthechallengestheyfacein managingsuccession.Hisreal-lifeexampleswillhelpfamiliesbuildsuccessfulworkingrelationships.Highly recommended!
—AnnetteLareau ProfessorofSociology,UniversityofPennsylvania
Fromourearliestdaysinourownfamilies,welearnfromstories,whichprovidealinktoourpastandhelp usdevelopavisionforourfuture.Inthisbook,DennisJaffehascuratedanexceptionalcollectionofstories todeepenknowledgeofthecomplexities,challenges,andtriumphsofmulti-generationalfamilyenterprises.
—PatriciaM.Angus,Esq. CEO,AngusAdvisoryGroupLLC;AdjunctProfessorandfounder,FamilyBusinessProgram,Faculty Director,EnterprisingFamiliesExecutiveEducation,ColumbiaBusinessSchool
Creatingthrivingmulti-generationalbusinessfamiliesisnoeasyfeat.Thisengagingbookgivesyoupractical know-howpluskeyinsightsonhowtoachievethisgoal—backedbyDr.DennisJaffeinterviewswithbusiness familiesgloballyinadditiontohisdecadesofadvisoryexperienceworkinginthefield.Thisisamustreadfor anyoneattemptingtotakeonsuchadaunting,yetworthygoal.
—FlorenceTsai
Authorof PhoenixRising—Leadership + InnovationintheNewEconomyandFounderofCenterprising
In BorrowedfromYourGrandchildren DennisJaffe,oneoftheworld’sleadingfamilybusinessadvisors, presentsuniqueinsightsintohowsomefamiliesmanagetocombinefamilyandbusiness,typicallyseenas divergentsocialsystems,intoorganizationsthatcreatelong-termvalueforboththefamiliesincontrolandthe stakeholderstheyengagewith.Thebookrepresentsanextremelyrichsourceoforiginalexamples,reflections, andconceptualmodelsthatmakethebookfascinatingtoread.Atthesametime,thebookrepresentsasource ofinspirationasyoudesignyourownpath,onethatwillleadyoutowardcreatingyourownlong-lasting familyenterprise.
—ThomasZellweger ProfessorofManagement,UniversityofSt.Gallen,Switzerland
Corporategovernanceisdifferentwhenthereisafamilybusiness,becausetheownersarerelatedandshare certainvalues. BorrowedfromYourGrandchildren offersanoverviewoffamilybusinessgovernance, andthepotentialbenefitsthatderivefromthedifferences,infamiliesthatsharelong-termownershipoflarge enterprises.Thesebusinessfamiliesusegovernancepracticesnotonlytocreateastrongandprofessional business,butalsotoservetheirsocialandfamilyagendas.Theexperienceofthesefamiliesshowsthatthese twoagendascanworkinharmony.
—ProfessorMartinHilb,PhD
ChairmanoftheBoardFoundationanditsInternationalCenterforCorporateGovernance
CongratulationstoDrDennisJaffeforthiswisereflectionofhislife-longexperienceadvisingandresearching enduring,generativefamilies.Dennisshowshowthesefamiliessuccessfullyevolveandtransitionfromfamily businesstobusinessfamily,bybuildinginmechanismsfortheirfamilytribestolearnandgoverntogether, andtobuildresilienceamiddifferentdisruptions.Drawingonwisdomofglobalbusinessfamilyleaders, Dennisendseachchapterwithpracticaltoolsfamiliesandtheiradvisorscanusetoleapforwardandachieve thismulti-generationalendeavor.Thoughtscoveredinthisbookarehighlyconsistentwithmyexperienceand research,andIhighlyrecommendthisbooktofamilieswhowanttobreakthecurseof“wealthdoesn’tgobeyond threegenerations.”
—ProfessorRogerKing Founder,HKUSTTanotoCenterforAsianFamilyBusinessandEntrepreneurshipStudies
Borrowed fromYourGrandchildren DennisT.Jaffe
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LibraryofCongressCataloging-in-PublicationDataisAvailable:
ISBN978-1-119-57380-7(hardback)
ISBN978-1-119-57382-1(ePDF)
ISBN978-1-119-57381-4(ePub)
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ToCynthia,mylifepartner,mythreesonsandtheirlifepartners, andourgrowingthirdgeneration,whoarethefuture
Chapter4TheFirstFourGenerations61
Chapter5BusinessResiliency:CommonTransformations
Chapter6TheGenerativeAlliance:BuildingandSustaining
Chapter7CorporateSocialResponsibility:Changing
Chapter9TheFamilyTribe:CreatingPurposefulExtended
Foreword:RicePaddytoRicePaddy Ricepaddytoricepaddy,clogstoclogs,shirtsleevestoshirtsleeves—allin threegenerations.Theseproverbsaretheways,invariouscultures,thatthethreegenerationcycleoffamilies’failurestoprosperandtheirtendencytodecayare described.Therearemanyothersuchproverbs.EachcultureIknowofhasone. Infact,thisproverbistheonlyoneIhaveeverdiscoveredthatisuniversalculturally. Ihavespentthislifetime,literallysinceIwasfourandfirstheardmymotherstatethe shirtsleevesformoftheproverb,askingmyselftwoquestionseveryday.Whyshould therebethissadoutcomeforafamily?Andwhatmightafamilydotoavoiditsdictate andflourishforatleastthreemoregenerations?WhileIhaveworkedhardtofind answerstotheseconundrums,untilnowIhadonlymyexperiences,thoseofafew colleagues,andsomethoughtfulacademictreatisestousetotrytoformanswers.
NowwiththeadventofDennisJaffe’sbook, BorrowedfromYourGrandchildren:The Evolutionof100-YearFamilyEnterprises,Ihavesoliddatatoaffirmthatsuchlong-term flourishingbyafamilyispossible.Dennis’sin-depthinterviewsprovidethefirst solidevidenceIknowofthatexplainshowfamiliesthatstaytogetheroverone hundredyearsevolvetoincludetheirthird,fourth,fifth,eveninaveryfewcases theirsixthgenerations,andcontinuetoprosper.Dennis’swillingnessandthatof hisco-researcherstogodeepintosuchfamilies’evolutionsisamajorcontribution toourfield,afieldofprofessionalpracticeinwhichweseektohelpfamiliesthrive,a fieldinwhichweseektohelpthosefamilies,whosevisionandmission,theirhighest intention,istoavoidtheproverb’ssadprediction.Inpracticalterms,weseektohelp themavoidbeingaddedtothelistoffamilieswhosestoriesendwiththeoutcomethe proverbforetells.Tosaythatourfamiliesandthoseweservewillbepositivelyinfluencedbythisbook’sfindingsandbythefamilystoriesitrecountsistounderstatethe book’ssignificance.Inmyopinion,thisbookwillprofoundlychangeafamily’soutcomeprovidedthefamilymemberscommittoavoidingtheproverbastheirhighest mutualintentionandutilizethepracticesofsuccessfulfamiliesthebookdescribes tomaterializethatintention.Shouldafamilydothesetwothings—committoavoidingtheproverbandusethepracticesoutlinedinthisbook—itcansubstantively increaseitsoddsofflourishingforatleastanotherthreegenerations.Yes,thisbook isthatsignificantacontributiontoafamilyknowinghowtoprosper.
Thisforewordisnotabookreview.Itisratherawayforreaderstoconnectwith thesalientpointsinthebooktheyareabouttoread.Itshouldseektoofferthereader somemainpointstoconsiderthatwillcarryhimorherintoitsdepth.Whichamong DennisJaffe’sprincipalfindingsmightIthenbringtoyourattention?Whichofthem pointtowardyourdeeperappreciationofhowyourfamilyandanyfamilyyouadvise mightsucceedinattainingitsonehundredthbirthday?Aonehundredthbirthday celebrationwithnearlyallofitspossiblemembersstillinrelationwithoneanother,
stilldeeplycommittedtothefamilythriving,andrenewingtheircommitmenttoone anothertoworkingtowardhelpingthefamilyachieveanotheronehundredyears ofsuccess?
First,inmyexperience,afamilythatseekstobecomeaone-hundred-yearflourishingfamilyand,asDennis’sresearchsuggests,becomeagenerativefamilyalmost alwaysintuitsthatbecomingafamilyofaffinityisitsdeepestspiritualpurpose.While thisconcepthasmanyelements,perhapsthemostsuccinctwayofdescribingthis intuitionandtheethicitengendersandenablesisthatitsmembersarecommitted entirelytotheenhancementoftheindividualjourneyofhappinessofeachfamilymemberovertheentiretyofeachfamilymember’slifetimetowardthegoalof theentirefamilyprospering.Thisisthefamily’sgenerativedream,anditspractices reflectthiswayofknowinghowtohelpthefamilysystemenablefamilyflourishing. Orifyoulike,thefamilyiscommittedtoeveryfamilymember’sindividualboatrising sothatthewholefamilyfleetbecomesapowerfularmadaforitslong-termflourishing.Inthisway,thefamilybecomesafamilysystemthatcanmeetandendureallthe stormsitwillfaceasitseekstoattainitsonehundredthbirthdayandgoonbeing generativebyofferingthesameintuitionforitsmembersoverthenextonehundred years.Familiesofaffinityaremuchtoorare.ButDennis’sbookprovestheyexistand canbeemulated.
Afamilyofaffinity,asDennisdescribes,learnsfromitssecondgenerationon thattohavefuturegenerationscontinuethefamily’sjourneytoflourish,become generative,andavoidtheproverb’sdictate,thefamilymustcreatefamilysystems thatarepositivelyattractive.Why?Becausethefamilyknowsthisistheonlypath toassurethatfuturegenerationswillbeattractedtojoin.Otherwisethefamilywill disappear.Therealizationbythesecond-generationfamilymembersthattheymust createsuchapositivelyattractingfamilysystemandtheactionsthesefamilymembersthentaketomakethisrealizationactionablearethemomentswhenDennis’s one-hundred-yearfamiliesareborn.
Whatintuitiondoesagenerativefamilydiscoverandawakeninitselfthatinturn leadsfamilymemberstodreamofbecomingandbeingaflourishingfamily?There aremany,andthemostimportantisthefamily’srealizationthattheword“wealth,” inthecontextofthefamily,meansthewell-beingofeachfamilymemberandofthe wholefamily,notexclusivelythesuccessofthefamily’sfinancialmeans.Inthisone majorawakeningliessomuchofthefamily’sfutureprosperity,itsgenerativity.With thisawareness,thefamilygraduallycomestoknowthatitconsistsofmultiplecapitals,themostimportantofwhicharequalitative.Thefamilydiscoversthatgrowing itsqualitativecapitals,supportedbyitsquantitativecapital, never ledbyit,isthekey tofuturefamilyflourishing.Itiswiththisawakeningandtheawarenessthatfollows thatthefamilybecomesgenerativeandtrulybeginsitslong-termjourneytowardits members’anditsfuture-generationmembers’happiness.Thefamilyisnowonthe pathtobecomingafamilyofaffinitywithallofitsrewardsforhumanhappiness.
Thesequalitativecapitalsincludethefollowing:
Humancapital: Areallfamilymembersthriving?
Intellectualcapital: Isthefamilyalearningsystemthatisconstantlygrowingits individualandcommunallearning?Areitsmemberssharingwhattheyare
Foreword:RicePaddytoRicePaddyxvii
learningsothecapacityofthewholefamilytomeetthechallengesitwillface isenhanced?
Socialcapital (ortouseDennis’sterm, relationalcapital):Isthefamilycapableof makingextremelygoodstrategicjointdecisions,ofgoverningitself?Isthe familyworkingtowardcultivatingalong-termabilitytoavoidthefollowing:
Internalsequestration: Deathbypoorsocialrelationswithoneanotherandits insularity(oftennotleadingtofissionanddeathbyheatbutfarmore oftendeathbyinertiainthefamilymembers’relationswithoneanother anddeathbycold).
Externalsequestration: Afailuretomeetattacksonitselffromtheoutside world.Areitssocialrelationshipscreatingfusion?Thatis,arefamilyrelationshipsleadingenergeticallytopositivegrowthsothat1+1=3?Are thosesamerelationshipsleadingtopositiveconnectionsthroughphilanthropywithnonfamilymembers?
Spiritualcapital: Thefamily’sabilitytoformacommongenerativevisionthat seekstoenablethelong-termflourishingofeachindividualandofitself;to dotogethertheseven-generationgenerativethinkingthatallsuccessfulfamilieslearntodo;andtoofferavisionandsetofpracticesthatarepositively attractingtofuturefamilymemberssotheywilljointhefamily’slong-term journey.
AsIamsureyoucanfeelandsee,it’sthesefourqualitativecapitalsandtheir constantpositivedevelopmentandevolutionthatlieatthecoreofasuccessfulfamilyjourney.TheyarewhatDennis’sresearchfoundanddescribes—andwhatmylife experienceaffirms.Thegrowthofthesecapitalsisthekeytothesefamiliesflourishing.Thesecapitalsandtheirevolutionwilldeterminewhetherafamilybecomesa familyofaffinity.
Theawakeningofthesecondgenerationtothisdeepawarenessleadstoitscreatingandevolvingasystemofjointdecision-making,groundedinconsistentlygrowing eachofthesecapitals,towardeachandallfamilymembers’boatsrising,thatwill becomethesystemthatispositivelyattractingtothenexttwogenerationsofpotentialfamilymembers.Thisawakeningwillenablethefamilytobecomethethriving generativefamilyDennisdiscoversanddefines.
Ofcourse,suchfamiliescontinuetogrow,develop,andevolvetheirquantitativecapital,theirventures,whetherasbusinessesand/orasfinancialenterprises. Whatthesefamiliesknow—andwhatfamiliesfallingtotheproverbdon’tseemto discover—isthattheireffortstogrowtheirquantitativecapitalmustbedesigned tosupporttheirhavingthe means toenablethemtogrowtheirfarmoreimportantlong-termcapitals,theirqualitativecapitals.Byunderstandingthisrelationship betweentheirqualitativeandquantitativecapitals,thesefamiliesachievewhatIconsiderthe greatknowing thatleadsto,andthatDennis’sresearchshowsandaffirms, theirgenerativityandflourishing,theirlong-termsuccess,theirgrowthofagile, awake,andawarehumanbeingsabletoparticipateinthegreatcooperativejourneytogrowaflourishingfamilywhilefullybecomingwhoevertheyaremeanttobe asindividuals.
Inowturntowhatthesehistoricallysuccessfulfamiliesofaffinitydiscover asimportantprinciplestobeintegratedintotheirsharedvision.Thelearnings theseprinciplesengenderthenbecomepracticesthefamiliesutilizeastheir journeysunfold.
First,asNassimNicholasTalibwritesinhisbook Antifragile:ThingsThatGainfrom Disorder,theybecomefamilysystemsthatareevermoreresilient,evermoreagile,all towardmeetingandovercomingtheinternalandexternalsequestrationeventsthat willattacktheirsystems.Theylearnhowtogrowtheirsystemsbeyondresilienceto immensecapacitiesforenduranceagainstalltheodds.
Second,theygrowstewards,familychampions,andfamilyelderwisdom keepers/wayshowerswholeadtheworkofgrowingafamilyofaffinity.Theydiscoveramongthemselvesfamilymemberswhoespouseseven-generationvisioning andawarenessandenablesuchfamilymemberstoleadtheirprocess.Theyseek familyleaderswhounderstandthatthewealthofthefamilyliesinthewell-being ofeachandallofitsmembers,leaderswhoseektokeepeveryfamilymember’s boatrising.
Third,theyconstructconservativegenerativestructuresthatareantifragile. Thesestructuresarethenabletoassistinthefamilies’enduranceastheyenable jointdecision-makingsystemstodevelopthatpermitverylong-termstrategic planningandthetacticalexecutionofthoseplansoveralong-timehorizon.These jointdecision-makingsystemsencourage,asCicerotellsthestory,oldmentoplant treessotheirgrandchildrenwillhaveshade.Thesesystemsencouragecopperbeech trees,whichneed150yearstomature,tobeplantedtoday,asthereisnotimeto wastetogetthemstartedgrowing.Yes,thesearesystemsthatencouragemetaphors andstorieslikethesetwoforhowfamiliesthinkandencouragetheirmembersto considerthefamily’spotentialinthelongtermandgenerativelyimaginefuture generationsflourishing.
Fourth,andperhapsmostimportantly,thesefamiliesunderstandthatiftheir familiesaretostaythecourseandhavethird-,fourth-,fifth-,andsixth-generation membersjoinin,theymustenablethesefuture-generationmemberstodecideto joinin.Whatdotheyknowthatsofewfamiliesseemtoknow,andwhatdoesthis knowingrequire?Theyknowthatinalifetimeeachofus,likelyonlythreeorfour times,makesanexistentialdecision,adecisioninwhichourlivesandourhappiness areatrisk,todecidetojoinonegroupinsteadofanother.Thesefamilies—especially theeldersofthesefamilies—knowwhatwiseeldersofhumancommunitieshave alwaysknown:humanbeingscannotlivealone.Weliveincommunities.Wearenot hermits.However,communitiesrequirethatwegiveuppersonalfreedomtohelp theothermembersofthecommunityinthehopetheywillhelpus.Thisseems clear.Buthowofteninalifetimedowevoluntarilygiveupfreedom?Itistherarest ofmoments.Weknowtherisksofdoingso,andwealmostnevertaketheplunge. Familiesthatflourish,thataregenerative,knowthattheirfuturesdependontheir futuremembersmakingapositivedecisiontojoinin, and theyknowhowdifficult thatdecisionwillbeforthem.Thus,theyseektocreatesystemsthatarepositively attractingtofuturegenerationstojoinin.Theyknowthattheirfamilies’futures dependonatleastsomeoftheirrisinggenerationmemberstakingtheexistential plungetogiveupfreedomtojoinin.
Whymightrisinggenerationmemberstakethisplungeinaparticularfamily? Becausetheyfindtheinvitationtojointhefamilyjourneyaninvitationinwhichthey perceivethatthefamily’sgenerativevision,thefamily’sspiritualself,itscorebeliefs andvirtuesareallworkingtogethertoofferthemmorepersonalfreedomtodiscover andbecomethemselves,moreopportunitytobringtheiruniqueselvestolifethan anyothergroupcompetingforthemtojoin.Theserisinggenerationfamilymembersdecideto giveupfreedomtogainfreedom.Onlythemostpositivelyattractingfamily system,onedevotedtothegrowthanddevelopmentofrisinggenerationmembers, canoffersuchinvitationswithanyhopeofsuchmemberssigningon.Thisgreat knowingandtheactionstomakethesecriticalinvitationsrealare,Ibelieve,atthe heartofwhysuchafamilyisgenerativeandlong-livedandwhymostfamiliesaren’t. Suchafamilyknowsithassucceededwhenitsrisinggenerationmembersformnew horizontalsocialcompactscommittedtotheseprinciplesandcommittedtooffering afuturerisinggenerationthesameinvitationtheirwiseeldersofferedthem.The formationofeachrisinggeneration’snewhorizontalsocialcompact,committedto eachoftheaboveprinciplesandparticularlytothefamilysystembeingpositively attractingtonewmembers,withitspromisethatgivingupfreedomwillenablethe gainingoffreedom,istheevidencethatthefamilyhasthecontinuingcapacityfor enduranceandtheabilitytocontinuetoflourishandbegenerativeforanother twogenerations.
SowehaveDennistothankforprovidinguswiththeresearchthatconfirms ourintuitionsaboutwhyafamilyflourishes,whyitisabletobegenerativeformany generations,andhowitdoesthis.Hisgiftofthisbookofferstheproofweneedthat theproverb’sdictateneednotbepredictive.Thestoriesofthefamiliesheprofiles assureusthatifwelearnfromtheirstories,ourfamilyneednotbeanotherfamily wheretheproverbcomestrue.Itismyhopethatyourfamilyandthoseyouguide astheiradvisorswilltaketoheartDennis’sgreatfindings,actonthemaccordingly, becomeafamilyofaffinity,andflourishformanygenerations.
Mayyourjourneysbeblessed.Mayyouandeachofyourfamilymembersflourish andachievehappiness.Mayyourfamilyflourishandbegenerative.
Namaste James(Jay)ElliottHughes,Jr. Tahoe,August2019
Preface Familybusinessesareamongtheworld’smostenduringandubiquitouseconomicandsocialinstitutions.Theyarethefoundationofsocialrelationsand communities;ashumansevolvedfromhuntingtoagriculture,trading,andindustrialization,familybusinessesevolvedaswelltomakethispossible.Theytakemany forms.Ournatureashumanbeingsisexpressedinhowweactinoureconomic life,andfamilybusinessesarethemostcommonmanifestationofthis.Whilethe marketviewofcommerceemphasizeseconomicbehaviorasindividualchoicesand rationalself-interest,thisbooktakestheperspectivethatatthecoreofoureconomy arelivingfamiliesthatseekandstandforsomuchmorethanfinancialprofit.
Thisbookpresentsthefindingsofaglobalmultiyearprojecttounderstandthe evolutionandessenceoflarge,globalfamilyenterprisesthathavesucceededover generations(aglossaryoftermsusedinthisbookisattheendofChapter1).The researchteaminterviewedfamilyleadersfromdifferentgenerationsofoverone hundredlargeglobalfamilies,eachofwhichhasthrivedasasharedeconomicentity formorethanthreegenerations.Thesefamiliesaresuccessfulbothasextended familiesandasbusinesses.Byviewingtheevolutionandhistoryofthelargestand mostsuccessfulglobalfamilies,bylookingbackandlookingforward,wecanlearn somethingaboutthenatureofsocialevolution.Wecanalsoobservethehuman foundationofglobalcommerce,whichhaslargelybeenhiddenfromview.Byhearingfromfamilieswithgreatwealthandlongevity,wecanlookbeyondindividual businessestothepositivefoundationsanduseofeconomicwealth.
Long-LivedBusinessFamilies Mypurposeistolearnfromthebestofthebestfamilyenterprises—extendedfamiliesthathavebeeninbusinessformorethanthreegenerations—touncoverthe internalsecretsoftheirsuccess.Theirwisdomcanhelpfamiliesjuststartingonthis path—thosemovingintoasecondorthirdgenerationandfacingsignificantchallenges.Theirstoriescanalsobeinstructivetothemillionsoflawyers,accountants, bankers,coaches,consultants,boardmembers,andothertrustedadvisorswhooffer resourcestofamiliestokeepthemoncourse.Whilethefamiliesmyresearchteam andIinterviewedowncomplexbusinessesandotherassets,Iseethemasfamilies firstbecausethatiswhattheownersare.Asfamilymembers,theownershavepersonalrelationships,andtheserelationshipsareaboutfarmorethanjustrunninga profitablebusiness.Suchafamilyismorethanasinglebusiness,orabusinessalone, becausethefamilycanstart,buy,andsellmanybusinessesasitadaptsandgrows acrossgenerationsandbecausethefamilyconsistsofmanyhouseholdsrelatedto andcaringaboutoneanotherandtheirfuture.
Iamparticularlyinterestedinlong-livedfamilybusinessesbecause,bytheir nature,afamilybusinessorfamilyenterpriseisfundamentallydifferentfroma publiccorporation.Theownersofapubliccorporationhavenothingincommon, andnorelationship,otherthanadesireforaprofitablebusiness.Inafamily business,theownersknowandcareforoneanotherandsharevaluesaswellasa desireforprofit.Thismakesahugedifferencetotheenterprise.
Thefamilyhasconcernsbeyondprofitthatgobeyondthebusiness.Thefamily’s businessexpressesacoreaspectofthesoulandidentityofthefamily.Theirvalues, reputation,roleinthecommunity,andimpactareallconsideredinitsoversight ofthebusiness.Becausethebusinessoriginatesfromafamily,italsoembodiesand reflectsthenatureandpersonalityoftheowningfamily.Allofthiscreatesadifferent formofbusiness,arguablyonethatismorecomplexandfacesmoreagendas.When afamilyenterpriselastsforseveralgenerations,itsfamilynatureisacentralfeature ofhowitoperates.
Thebook’stitlecomesfromtheobservation“Youdon’townafamilybusiness; youborrowitfromyourgrandchildren.”WhenIfirstheardthisexpression, attributedtoafifth-generationfamilymemberoftheHermesfamily,Iwasblown away.Professionalsspendagreatdealoftimehelpingoldergenerationsconsider whomtheywantto“give”thebusinessandtheirwealthto.Thisnotionturnsit aroundandviewsthefamily’senterpriseandwealthasagiftfromthefuturethat currentfamilymembersareabletouseonlywithconditions.Itcatchesthemost importantdifferencebetweenfamilyandnonfamilybusiness:theawarenessthat currentfamilymembersmakedecisionslookinggenerationsahead.Ihavesince learnedthatthisworldviewisadaptedfromNativeAmericanandotherglobal indigenouscultures,whodonotbelievethatlandandnaturalresourcescanbe ownedbyindividuals;theyaretobeshared,valued,andpreservedforthefuture. Thatmindsetmakessomuchdifferencetothenatureoffamilieswhohaveacquired largeamountsofwealth,andhowtheyseetheroleoftheirfamiliesasstewardsof theirfamilywealth.
MyJourney Thisprojecthasbeenadreamofmineandalaboroflove.Afternearlyfortyyears ofteaching,research,andpractice,sincethedawnoffamilybusinessesasafieldof study,Ihavewantedtodothisproject.Adozenyearsago,afterworkingonlyinside theUnitedStates,Ibegantowonderhowfamiliesfromotherculturesweresimilarordifferent.Iknewthatfamilybusinessesemergedineverypartoftheworld, andIwantedtoseeifthepracticesandtoolsprofessionalsweresuggestingtothem wereapplicableinothercultures.BecausemyexperiencewasonlywithUSbusiness families,IassumedthatIhadonlyapartialpictureofthenatureofthesefoundationalsocialinstitutions.ForsixyearsIhavetraveledandmetglobalfamilies,many ofwhombecamepartofthisstudy.
Inmanyways,myworktoday,afterfiftyyears,wasformedbymyyouthfulpassions.Aftergraduatingcollegeinthelatesixties,Iwasafounderofaprojectforrunawayyouth.Wecalledit NumberNine,afteraBeatlessong.Wehelpedrunawayyoung “streetpeople”calltheirparentsandsetupanintergenerationalconversation,ina
safeandneutralplace,totalkabouttheirdifferences.Theseconversationsweremy firstexperienceofhowvaluesandbehaviorcouldbesodeeplycontentiousandhurtfulinafamily.Ialsolearnedthatparentshadtoallowtheirchildrentogrowintheir ownwaybutalsofindsomecommongroundwiththevaluesoftheirelders.
Lateron,mycareertookmeintothecorporateworld,whereIworkedwiththe effectsofdeepchangeincorporatecultures.Thisfieldofstudylookedathoweach businessdevelopeditsownculture,usuallystemmingfromthevaluesandvisionof thefounders.Asbusinessesgrew,theculturecameunderstrain,andthebusinesses hadtoadaptbutalsoretainimportantfeaturesofthefoundingculture.Manyof thesebusinesseswerefamilybusinesses,thoughatthetimethatfactwasnotreally knowntome.
Intheearly1980s,severalgroups—containingorganizationconsultants, familytherapists,lawyers,accountants,financialadvisors,andfamilybusiness leaders—beganaseminaljointconversation.Talkingacrossprofessionalboundarieswasunusual,anditledeachprofessiontobegintoviewtheirworkdifferently, throughtheeyesofothers.Acrossthedisciplinaryboundaries,thesegroupsfound acommoninterestinfamilybusinesses.Werealizedthattheirnature,presence, andinfluencewerelargelyignoredinprofessionalbusinessliteratureandpractice. Rightunderournoseswasadeeplyimportantfieldofstudythatwehadignored. Iattendedsomeofthesemeetings,andtwoformerlydisconnectedstrandsofmy lifecomingtogether.Isawthatthenatureandrelationshipsofthefamilywereat therootoffamilybusinessandthattheresolutionoffamilyissueswasnecessaryfor businessestosucceedovergenerations.
Toundertakethisstudy,Iassembledateamoftalentedresearchersandadvisors,eachofwhomcontributedtimeandideasaswellasconductedinterviewsand gatheredthedata.Theirbiographiesareincludedintheappendix.Tolaunchthe study,wehadthesupportoftwoglobalfamilyenterpriseorganizations:FamilyOffice ExchangeandFamilyBusinessNetwork.Theyenabledustodevelopourresearch modelandcontactfamiliesthatthrivedovermultiplegenerations.Afterpublishing ourfirstworkingpaper,wewerefortunatetogainthesupportofBankofAmerica’s MerrillCenterforFamilyWealth,whichsponsoredtheworkingpapersweproduced eachyear.
TheResearchPerspective Theperspectivethatledtothisprojectissomewhatdifferentthantheperspectiveof otherfamilybusinessresearch.Itstemsfrompracticescalled actionresearch,research basednotondiscoveringcausalconnectionsbetweenfamilyandbusinessbutupon askinghowtohelpfamiliesinbusinessbemoresuccessfulandavoiddifficulty.This researchisnotjustforotherresearchersbutofferedtothefamiliesandtheiradvisors tohelpthemdoabetterjob.Theprojectispremisedonseveralbasicassumptions asfollows.
Studythebest,nottheaverageormosttroubled ManagementpsychologistAbrahamMaslow,oneofmymentors,notedthatyou wouldneverlearnverymuchabouthealthypeopleifyouonlystudiedthosewith mentalillness.Similarly,thereisalimitedamountonecanlearnfromstudying
familybusinessesthathavefailed,collapsingamidconflictandpoorbusinesspractices.Thatdoesn’tnecessarilyhelptoseehowtocreateaclimateforsuccess.Ifyou avoidfailure,youdon’tnecessarilyachievesuccess.There’smoretoit.
Youdon’thavetolooktoofartofindanarticleabouthowtodestroyafamilybusiness.Usingbusinessrelationshipstoredresspastfamilywrongsortoserve endlessfamilyfinancialneedscanundermineeventhestrongestbusiness.Natural forcesofbusinessmaturingandinnovationtakedownmanymore.Itismuchharder tosustainthrivingfamilyenterprisesacrossgenerations.Howcanafamilyincrease itschancesoflong-termsuccess?
Thefieldofmanagementhasbenefitedgreatlyfromstudiesofthemostsuccessfulbusinesses.Therearemanybooksbybusinessleaders;thesebooksareinspiring butalsoalittlesuspectastheyshareonlyonesideoftheirstoryanddosoinretrospect.Personalsuccessstoriesareastapleofbusinessandfamilybusinessliterature. Theyareinspiring,butamoredispassionateviewisalsoneeded.
Anumberofresearchandtheory-basedbookshavealsotriedtodistillthewisdomoflong-termbusinesssuccess:ThomasJ.PetersandRobertH.Waterman,Jr.’s 1982breakthroughbook, InSearchofExcellence;1 JamesC.CollinsandJerryI.Porras’s BuilttoLast2 adecadelater;andmanyfollow-upworks.Thesevolumesaremy guidestoaformofresearchthatiscalled“appreciative”becauseitlooksatwhatis goodaboutbusinessandhowitcanbeenhanced.
Appreciativeinquiry,anapproachdesignedbyDavidL.CooperriderandDiana Whitney,3 hasledtosomeofthemostusefulandpracticalresearchonthenature ofsuccessfulcompanies.Inthisapproach,aresearcherorconsultantbeginswith whatthebusinessorentityisdoingthatworkswellandexpandsuponthat,rather thanfixingproblems.Familiesfindthisperspectivebothattractiveanduseful.This istheviewtakenbythisentireproject.
Theresearchcanbelabeled“narrativesociology.”Bypresentingtheirstories andexperiencewithoutevaluating,Iuncoveredthecollectiveexperienceof long-termglobalgenerativefamilyenterprises,thosefamilybusinessandfinancial operationsthatsucceedovermultiplegenerations.Throughoutthecourseofthe book,Ipresentwhatthesefamiliesactuallydo.Thisisnonjudgmentalandnonevaluative.ButsinceIamstudyingthefamiliesthataremostsuccessful,Icannotescape someaspectsofvaluejudgment.Byfocusingonlong-livedfamilies,Inecessarily calluponreflectionsaboutwhatelementsoftheirexperienceteachfamilieshowto surviveforthelongtermandhelpthemanticipateandevenavoiddisaster.
Familyisthefoundationalunitofstudy,andbusinessesarevehiclestosupportfamily goalsandvalues.
Itistobeexpectedthatbusinessresearcherslookatbusinessastheirbasicunit ofstudy.Theriseandfallofabusinessistheirfocus,includingtheroleofafamily asownersandoperators.Butwhatifthefamilysellsthebusinessandmovesonto otherpursuits?Isthistheend?Inthisresearch,Iviewthefamilyasthebasicunit ofstudyandhowbusinessesandotherassetscreateresourcesforthefamilyonits journey.Takingthisview,Ilookatthepeopleandthejourneyacrossgenerations, asfamilymemberspursuedifferentopportunitiesandpathsandarestillableto remaintogetherasalignedpartners.Withthisperspective,itbecomesclearthat
