Generation to Generation: Life Cycles of the Family Business

A very well methodical approach on issues relating to governance of a family business which invariably covers multi-dimensional issues of emotions, tradition, moving forward and competing interests. Short of meeting John Davis himself, this is a good guide for a 'family' business. John Davis with his experience over more than 30 years consulting family businesses world wide crystalises some hard issues family enterprise deals with. It covers Dimensional development model of Ownership, Family and Business as well as the 4 Classic Family Business Types right through to Managing the developing a family business. It can be a good guide not only to family businesses but also those who work closely with or for family businesses such as consultants and key employees.

This book provides a great framework on family business. Started my career in a family business, I have my share of understanding on family business. Typically, there are some mixed ups on personal emotion and professionalism. By using the framework discussed in the book would help folks in family business to focus more on business, less on personal emotion.

"Generation to Generation", published by Harvard Business School Press, is an attempt to model how family businesses work in essence. The authors' research include interesting vignettes and 'lessons-learned' from a variety of families; how they achieved their goals, how they resolved conflicts between family members etc. Since the topic of family business in academics is fairly new, this book can be considered as one of the best in its field.

Important topics (such as succession, development stages and inter & intragenerational issues) are covered in detail to enlighten the reader. Contrasting viewpoints are also included to make the reader think for his or herself.

In general, the book is fairly easy to read since it explains the modeling theory with examples from numerous enterprises.
I strongly recommend it all who are destined to work in the complex system called family business.

Most businesses in the world today are owned by families, but only a small percentage of these companies will survive and grow into major corporations. The unique challenges posed by family ownership can undermine even the best-performing small business, as issues of control and succession permeate the generations. In Generation to Generation, the authors apply the simple premise that managing a family-owned business to a large extent means managing the family itself. To that end, they provide a rich compendium of research and strategic suggestions for those charged with making a family business work, including the consultants who guide them. We from getAbstract highly recommend this book for these applicable measures and methods, which will help the performance of both business and family.

The authors effectively present a theoretical, as well as practical model of family business dynamics, incorporating the complexities of development over time. This book is a must-read to gain a deep understanding of families in business from the key perspectives of familiy, business, and ownership. Their use of case examples effectively illustrate the practical application and relevance of theory. To sum it up, it's steak AND sizzle!