Generation to Generation: Life Cycles of the Family Business [Hardcover]

Kelin E. Gersick (Author), John A. Davis (Author), Marion McCollom Hampton (Author), Ivan Lansberg (Author)

Book Description

Publication Date: January 1, 1997 | ISBN-10: 087584555X | ISBN-13: 978-0875845555

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.

Editorial Reviews

From Booklist

The authors claim that between 65 to 80 percent of all businesses worldwide are family owned or managed, including up to 40 percent of the Fortune 500. Yet most of what we read about family businesses are sensational accounts of blood feuds and internecine battles over money and control. This study takes a more analytical look at what makes family firms different from other corporations; it grew out of the authors' collaboration at the Owner Managed Business Institute, where they worked on an ongoing project for Caterpillar, Inc., that began more than a dozen years ago. Now a multinational conglomerate, Caterpillar began as a family firm, and many of its products are distributed through family-operated dealerships. From that work, the authors developed a model that looked at these businesses from three different aspects: ownership, family, and business. They also identified four classic family-business types and here address the management issues that arise as firms evolve from one type to the next. David Rouse

Review

“Generation to Generation is not only a Rand McNally for family businesses, it is a Fodor’s as well. Participants in family businesses, no matter what their ages, will find this book an invaluable road map and guide.” — Frank Perdue, Poultry Executive

“A seminal book about a topic usually neglected if not ignored—the family owned business—which is what makes Generation to Generation so important and vital. Bringing their rich experiences to bear, along with powerful analytic heft, the authors have written what will be, in a very short time, a classic.” — Warren Bennis, University Professor and Distinguished Professor of Business Administration, University of Southern California, and author of Organizing Genius and On Becoming a Leader

“A family controlled business can be a blessing or a curse. For those of us fated to cope with these issues, Generation to Generation is a long overdue ‘must read.’” — William K. Coors, Chairman of the Board & President, Adolph Coors Company

“Anyone interested in the survival of the family business should read this book carefully. In a very sensible and sensitive way the authors provide a wealth of insight into the generational vicissitudes of this kind of enterprise.” — Manfred F. R. Kets de Vries, Clinical Professor of Management and Leadership, INSEAD

“The authors have zeroed in on the distinctive culture, the unique strengths, and the complexities and challenges of the family controlled business. In practice, this model will help those who run, consult with, or work for family businesses.” — Ralph J. Roberts, Chairman, Comcast Corporation

See all Editorial Reviews

Product Details

• Hardcover: 320 pages
• Publisher: Harvard Business Review Press (January 1, 1997)
• Language: English
• ISBN-10: 087584555X
• ISBN-13: 978-0875845555
• Product Dimensions: 7.2 x 1.2 x 9.2 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (14 customer reviews)
• Amazon Best Sellers Rank: #82,515 in Books (See Top 100 in Books)

Most Helpful Customer Reviews

4 of 4 people found the following review helpful

5.0 out of 5 stars An excellent book for anyone interested in family businesses August 13, 1999

By A Customer

Format:Hardcover

I think this is one of the best books available on family businesses! I found it insightful and informative. I think anyone interested in the subject should read this book. I strongly disagree with the review that describes this book as "too theoretical." I found it immensly practical.

3 of 3 people found the following review helpful

5.0 out of 5 stars The best ever study on family business April 26, 1997

By A Customer

Format:Hardcover

The authors took ten years studying hundreds of family firms to write this very deep and understanding description of how a family business develops trhu time. A must for anyone interested in this fascinating subject.
Antonio C. Vidigal

5 of 6 people found the following review helpful

5.0 out of 5 stars Packed with Knowledge! April 1, 2002

By Rolf Dobelli HALL OF FAMETOP 1000 REVIEWER

Format:Hardcover

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.