This section looks at the journey of families as they evolve as a shared enterprise. I present a “movie” of how what I call “generative” families evolve over four or more generations. The next chapters then focus on the family's business; how it changes over generations, the elements of the unique family enterprise culture that characterizes generative families, and origin of the role of steward that emerges in the family that oversees a portfolio of enterprises.

Chapter 4 takes a broad view of the evolution of the embryonic family enterprise in its first four generations. We then see, in Chapter 5, how the family evolves from a legacy business to a portfolio of family ventures that make up the family enterprise. Chapter 6 presents the unique elements of a family culture that embodies the family enterprise, and how they together make up what is known as the “generative alliance.” Chapter 7 looks at how the value of social responsibility impacts family ventures and creates a social vision that families follow. And finally, Chapter 8 shows how by the third generation, the role of family owners shifts from owner/operator to steward, and how the family governance creates a board to oversee the enterprise.