Generation to Generation: Life Cycles of the Family Business 
asked by iconfess on November 10, 2006 10:13 PM
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.
Reviews
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"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.
reviewed by rob33 on November 16, 2006 1:10 AM
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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.
reviewed by titanium7 on November 28, 2006 1:13 PM
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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!
reviewed by teacher on November 29, 2006 1:05 AM