The “generation gap” is a well-known and probably over-used phrase, but it does describe a real phenomenon that exists in our culture.
As people age, their attitudes about several issues related to the family business tend to change, both due to their own unique set of life experiences, and their outlook on the future. Family members of different generations often have different views about issues such as debt, new ventures and opportunities for business expansion.
These differences can be sources of disagreements and even conflicts. When evaluating the goals for your family business, it is important to recognize that there may be some distinctly different goals along generational lines that need to be revealed, explored and discussed.
As people age, their attitudes about several issues related to the family business tend to change, both due to their own unique set of life experiences, and their outlook on the future. Family members of different generations often have different views about issues such as debt, new ventures and opportunities for business expansion.
These differences can be sources of disagreements and even conflicts. When evaluating the goals for your family business, it is important to recognize that there may be some distinctly different goals along generational lines that need to be revealed, explored and discussed.
"Parents often talk about the younger generation
as if they didn't have anything to do with it. "
- Haim Ginott
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