Index
- A
- Abacus, mastery, 39
- Accountability (family quality/value), 218–219
- Action Plan, example, 358f
- Active plans, usage, 71
- Active task force, development, 356
- Acumen, 164
- Adams, John, 286
- Adaptation, cycle, 108f
- Adversity, experience, 303
- Advisors, tools, 357
- Advisory board, formation, 195
- Age-appropriate work, usage, 304
- Agency, problems (defining), 48
- Apprenticeship, 332
- Aspirational governance, 31
- Assets
- At-large election, 247–248
- B
- BCCI, default, 45–46
- Behavior
- design. See Code of Behavior.
- respect/encouragement, 273–275
- Bellow, Adam, 37
- Berman, Melissa A., 54
- Board of directors
- Branch identity, importance (decline), 192
- Brundtland Commission
- Buddenbrooks (Mann), 41
- Business. See Legacy business; Small business
- assets, liquidation, 94
- briefings, 310, 315–318
- business-first orientation, 22
- core competencies, development, 142
- culture, shift, 141
- defining, constitution (impact), 260–261
- discipline, 127–137
- diversification, 99–102
- education, 300
- effectiveness, 114
- employment, 332
- events, 312
- evolution, 101
- expertise, business effectiveness, 114
- founders, secrecy, 134
- governance, 179
- growth, occurrence, 32
- impact, 277
- innovation/adaptation, sustaining (factors), 89–91
- leadership
- legacy business, 16, 33, 76
- long-term ownership, commitment, 94
- maturation, increase, 88
- meetings, 294
- absence, 315
- mission, 267
- model, adaptation, 159–160
- operation, family shift, 334–335
- ownership, 13f, 217
- portfolio, 102
- professional business, tribal family (contrast), 223f
- professionalization, 129
- renewal, 73–81
- resiliency, 87
- review, 206
- revitalization, G3 shift, 73
- sale, 64
- strategic plan, 265
- success, 88
- sustaining, 71
- tradition, 83–84
- transformation, 76, 87
- transition, 220–221
- values, 267
- virtuous circle, 19
- Business family
- Business/financial success, long-term family enterprise criteria, 10
- C
- Cadbury, Adrian, 45–46, 179
- Cadbury family, social responsibility (emergence), 44–46
- Cadbury, John, 44–45
- Cadbury model, 49
- Cadbury Report, 46
- Candidate (capability/sustainability), family assessment, 138
- Capability, 305
- Capital. See Legacy
- Career
- Caring, desired capability, 305
- Carnegie, Andrew, 52, 337
- “Castle, The,” 153
- CBRE, 170
- Centennial families, dialogue/leadership opportunities, 166
- Chandler, Alfred, 48–49
- Change
- Changeability, desired capability, 305
- Character
- Charitable endeavor, family foundation, 5
- Charter
- Chief executive officer (CEO), role, 137
- Children
- Clans, appearance, 36
- Climate, elder creation, 325
- Coach, finding, 306
- Code of Behavior, design, 274–275
- Code of conduct. See Families
- communication/behavior, 273–275
- Collaborating siblings, 64–68
- Collaboration
- Collective harmony, 38
- Colli, Andrea, 55
- Coloroll, collapse, 45–46
- Comfort zone, 254
- Commitment, 279
- Common sense, usage, 39
- Communication
- Community
- building, 206
- commitment, 27
- creation, 272
- cross-generational community meetings, 310–315
- desired capability, 305
- development, foundation (impact), 348–349
- extended family community, creation, 201
- family, impact, 249
- fifth generation commitment, 127
- good, 253
- leadership focus, 301
- money, impact/usage, 39
- service, 272, 325, 334–335
- Company
- Competence
- Competency (family quality/value), 218–219
- Competition, advantage, 38
- Compromise, desired capability, 305
- Conflict
- Confucian ethic, 38
- Conglomerate, diversification, 101
- Connectedness, increase, 55
- Connections, desired capability, 305
- Conservative governance, 31
- Constitution, 259. See also Family constitution
- Continual cross-generational value creation, 7–10
- Cooperation, learning, 66–67
- Core competencies, business development, 142
- Core family values, passing, 339
- Core purpose, 25
- Corporate social responsibility (CSR), 154, 157–158, 160, 175
- Corporate sustainability, 154
- Corporation, portal maintenance, 265
- Councils. See Family councils
- council of elders, job, 267
- Counterculture, famliy establishment, 292–293
- Cousins, values/interests (orientation), 69
- Craftsmanship, skills (deepening), 132
- Craftsmen
- Creativity, desired capability, 305
- Credibility, development, 306
- Crisis, survival, 88–89
- Cross-generational activity, features, 209
- Cross-generational community meetings, 310–315
- Cross-generational dialogue
- Cross-generational engagement
- Cross-generational family meeting, convening, 355
- Cross-generational learning community, family (relationship), 309
- Crossroads commerce, 114–116
- Culture
- Curiosity, desired capability, 305
- Cynthia and George Mitchell Foundation, example, 346–347
- D
- Decisions (guidance), governance policies/structures (usage), 26
- DEI. See Diversity, equity, and inclusion
- Desert Storm, family interaction, 342
- Development
- guidance, governance policies/structures (usage), 26
- plan, development. See Personal Development Plan.
- Digital platforms, rise, 55
- Disagreements, avoidance, 278
- Divergent social systems, example, 21–22
- Diversification, 110
- Diversified enterprises, components, 75
- Diversity, equity, and inclusion (DEI), 343
- Donors, experience, 344
- Drinking, temperance, 39
- Dual family councils, account, 242
- Dual foundation structure, adoption, 168
- Dumas, Axel, 158
- Duty of candor, 187
- Duty of care, 187
- Duty of loyalty, 187
- Duty of obedience, 187
- Dynastic family, definition, 15
- E
- Educational goals, 338–340
- Educational programs, 303–305
- Education, investment, 163
- Education program, investment, 322
- Elders, 208–210
- Eldest son, ascension (expectation), 326
- Emotional intelligence (EQ), 330
- Emotion, embracing, 318
- Employees
- Employee stock ownership programs (ESOPs), 100
- Energy, commitment, 97
- Engage/decide (resilience cycle), 107
- Engaged owners, “tribal” family/community, 75
- Enterprise. See Family enterprise
- service, 328–332
- Enterprising family, definition, 16
- Entities, types, 75
- Entitlement, 290–291
- Entrepreneurialism, conservatism (dialogue), 144
- Entrepreneurial talent, family member development, 146–147
- Entrepreneurs, self-made style, 63
- Excellence, pursuit, 272
- Exit policy, 97
- definition, 15
- Experiences, sharing, 350
- Explicit values, 75
- Extended family
- Exxon, environmental record, 53–54
- F
- Families. See Legacy
- academy, 318–319
- accounts, 251–252
- activities
- adaptation/innovation/change, 25
- advantages, reemergence, 54–56
- ambassadors, 314
- appearance, context (defining), 261
- assembly, 72, 205–208, 224, 268
- assets
- board of directors
- branches, challenges, 311
- building block, 312
- challenges, constitution (evolution), 269–270
- champion, 210–211
- emergence, 67–68
- change, resistance, 89
- characteristics, 15f
- charitable foundation, establishment, 336
- citizen, value/governance commitment, 286
- code of conduct, 267
- principles, example, 273
- communities, appearance, 36
- competition, 139
- conflict, 109, 252
- conglomerates
- connection (sustaining), legacy business (role), 94–95
- connectivity, increase, 345
- constitutional convention, convening, 280–281
- control, passage, 312
- conversations, 234
- cooperation (family value), 272
- core values, passing, 339
- cross-generational family meeting, convening, 355
- cross-generational learning community, relationship, 309
- culture, 114
- deal, defining, 306–307
- definition, 15
- description, 12–15
- development
- differences, 206
- difficulties, anticipation, 70
- dynasties, social history, 35
- educational activities, arrangement, 239
- education, family commitment, 316
- education, support, 11
- elders
- engagement, transparency path, 184–185
- expectations, 268
- extended family community, creation, 201
- family-first orientation, 22
- family-supported philanthropic/community ventures, 326
- finances, information access (problem), 70
- formal rituals, 313
- fortunes, accumulation/sustaining, 35, 40–44
- foundation, 76
- responsibility level, 343
- funding/support, 268
- G3 members
- gathering, organization, 239
- generations, connection (creation), 249
- giving, decisions, 268
- global representation, 13f
- glue, creation, 313–314
- goals, 276
- greatness, creation, 19
- harmony, striving, 38
- hiring messages, crafting, 141
- history, 253
- identity, centers, 103–109
- independent board, 312
- infrastructure, 288
- inheritors, information, 217
- involvement, 139
- journey, story, 84–85
- leaders, 286, 295
- leadership focus, 301
- learning, 314
- initiatives, 331
- lives, support, 93
- long-term vision, 123
- meetings
- mission, 267
- statement, development, 356
- nonprofit organization, comparison, 329–330
- nurturing, 235
- office, 52, 191
- organization, impact, 75
- origins/history, 267
- owner-operator, shift, 76
- owners (rising generations), capability (development), 71
- participation, increase, 344
- patriarch, example, 294
- personal stamp, 125
- philanthropy, 333
- portfolio, entrepreneurial mindset (adoption), 102
- practices, generational examination, 227t
- privilege, bubble (exit), 306
- questions, 69
- reengagement, 73–81
- relationship manager, 140, 141
- relations, maintenance, 278
- reorganization, 55
- research, 354–355
- resources, 334
- respect, 334
- reunion, biannual occurrence, 39
- role, expectations, 322
- sale, impact, 95
- self-assessment, 355–356
- service, 324–332
- shared values/purpose, 275–279
- social events, 83
- social ventures, service, 328
- solidarity, Rothschild model, 43
- story/history, awareness, 205
- succession, matriarch control, 64
- system, values (maintenance), 273
- talent
- third-generation family leader, business redefinition, 88
- tools, 357
- tradition, 83–84
- transformations, management, 110
- transparency, evaluation, 141
- tree, pruning, 97–99
- tribe, 201
- building, 202–204
- triggers, 88
- ventures, control, 179–180
- vetting, issues, 138–139
- virtuous circle, 19
- visibility, 334
- vision, 267
- voice, unification, 218
- wealth
- work, conducting, 237
- Familiness, 347
- definition, 15
- Family Balance Sheet, 359–360
- Family business, 181–182
- Family Business Network (FBN), 155
- Family capital, 216, 301
- Family constitution, 224, 259
- core purpose, 267
- creation, 272–273
- definition, 16
- family enterprise organization/policies, 267–268
- governance, 268
- impact, process, 263–265
- legal structures, 268
- mission/values, action, 270–271
- movement, 261f
- outline, 267–268
- philanthropy, 268
- shareholders, roles, 268
- signing, 270
- social mission, 268
- writing, 269–270
- Family Conversation, 234
- Family councils, 191, 237
- activities, 252–253, 268
- conducting, 251–253
- building, 246–253
- charter, 250
- creation, 82, 237–238
- definition, 16
- development, 71
- timing, 238f
- election, 263
- emergence, 239–244
- evolution, 242
- expectations, creation, 254–255
- format/expectations, clarification, 255
- function, 232
- future, plan, 253
- goal, 254
- information, gathering, 255
- meetings
- membership, 268
- members, selection, 246–249
- mission, 249–250, 268
- operating principles, 250–251
- organization, 249, 268
- origination, 242–243
- parallelism, 227
- participants, invitation, 255
- participation, 312
- prevalence, 238f
- purpose, 254, 268
- responsibilities, 268
- safe environment, creation, 255
- statement of purpose, usage, 265
- task force, assembly, 264
- values, 249–250
- young leader report, 319
- activities, 252–253, 268
- Family enterprise. See Generative family enterprise
- action, 279, 305, 332, 349, 355
- best practices, assessment, 234
- calls, 325
- capital measurement, 359–360
- core, 20–21
- culture
- defining, 4–6
- definition, 16
- description, 289
- economic/social future, 351
- education, paths/activities (defining), 332
- effectiveness/profitability, contrast, 51
- employment pathway, 329
- entry, choice (freedom), 272
- evolution, 59, 92f
- family culture support, elements, 122f
- future, 256–257
- generational characteristics, 74t
- generations, 61
- global instability refuge, 352–353
- holding company, usage, 5
- impact, 3
- joining, choice, 325–328
- mistakes, 107
- models, emergence, 55
- nonbusiness entities, 14f
- organization/policies, 267–268
- pitfalls, 108–109
- research. See Long-term family enterprises.
- process, explanation, 10–12
- stewarding, 235
- success, 6
- timeline, 110–111
- time line/journey, 111
- transparency, responsibility, 185–186
- visits, 332
- Family enterprise action, 33, 109, 197–198
- Family Enterprise Assessment Tool (FEAT), 357–359
- action, sample, 359f
- Family governance, 31, 181, 199, 215
- building blocks, 222–226
- business governance
- business pillar, 105–106
- elements, 225f
- embedding, 221–222
- entities, overview, 228–229
- formalization, 210–211
- ownership governance, linking, 227–228
- participation, 286
- policies/procedures, design, 266
- purpose, 216–218
- shared family governance, igniting, 219–221
- structure, 228f
- triggers, 220f
- values, 218–219
- Family legacy, 276
- Family members
- business entry, discouraging, 327
- business involvement, 257
- cash out, 93
- conflict, 136–137
- elders, 208–210
- employment, policies, 268
- functions, 261
- harmony/unity (promotion), Code of Behavior (design), 274–275
- human capital, development, 249
- initiator/driver, emergence, 311
- owner role, 76
- personal relationships, 76
- placement, employees (impact), 138–139
- preference, 124
- purpose, 275
- reliance, 302
- responsibilities, 97
- shares, sale, 88
- time/work, 97
- togetherness, 239
- voice, 252
- young family member
- Family of affinity, 23, 125, 224
- Family Sustainability Team, 320
- Family values, 206, 263, 267, 276
- FEAT. See Family Enterprise Assessment Tool
- Fifth generation (G5)
- business entry, 327–328
- choice, 83
- company, two-board structure, 190–191
- employee/community, commitment, 127
- European conglomerate, impact, 101
- generative family, impact, 247
- heir, office management/supervision, 221
- involvement, 229
- member benefits, 116
- members, filming, 172
- mentoring, 136
- shareholder reduction, example, 99
- succession process, 139
- US business, ownership, 331
- values, remembering, 158
- working consensus, 322
- Fifth-generation family
- Filial lines, 141
- Finances, tracking, 39
- Financial briefings, 310, 315–318
- Financial capital, 28
- Financial-Education Capital, components, 360
- Financial literacy (successor value), 295
- Financiers, family fortunes (accumulating/sustaining), 35, 40–44
- Fink, Larry, 153
- First generation (G1)
- business families, positioning, 12
- business founder, improvisational leader (presence), 128
- business growth, occurrence, 32
- conflicts, 72–73
- constitution, elements, 265
- entrepreneur, achievement, 32
- family
- leaders, hands-on business owner/operators, 178
- matriarch, legacy work, 217–218
- mega-philanthropists, generative families (difference), 338
- members, composition, 61
- members, foundation, 109
- perspectives/histories, divergence, 63
- success, 23
- wealth creators, description, 63
- Ford, Edsel, 48–49
- Ford, Henry, 48
- Ford II, Henry, 48–49
- Formal governance process, 315
- Formal mentoring, 320
- For-profit ventures, boundary, 162
- Foundation, 191. See also Families
- Founding generation, values, 295
- Fourth generation (G4), 6, 14
- age, attainment, 319
- branch identity, importance (decline), 192
- business
- children, knowledge, 312
- co-leaders, presence, 143
- daughter, observations, 134
- deals, business entry, 229–230
- emergence, 116
- entry, 74–75
- European family, lesson, 22
- experience, 76
- foundation, 169
- governance involvement, 157
- innovations, 115
- issues, 101
- leaders
- members
- opportunities, creation, 319
- ownership transfers, 277
- patriarch, passing, 147
- relationships, 76–77
- building, 210
- shared wealth, 31
- transition, 78
- vocal members, challenge, 53
- wealth, 84
- wisdom, generation, 106
- Fourth-generation family
- ambassadors, 314
- business leadership class creation, 316
- conglomerate, gaps (occurrence), 135
- constitution, creation, 272–273
- dual family councils, account, 242
- elder, impact, 211
- enterprises, size, 244
- growth committee, creation, 145
- heirs, lifestyle supplement, 289
- impact, 247
- investment group, creation, 144–145
- leader, perspective, 322
- leadership, transition, 128
- members
- mission, 275
- ownership continuation, 74
- size, 250
- Friedman, Milton, 152
- Friendships, development, 317
- Frugality (successor value), 295
- Future, global context, 351–352
- G
- G4 members, identity (redefinition), 95–96
- Gains, treatment, 38
- Gates, Bill, 337
- Generational aging/transition, impact, 290
- Generational transitions
- Generations
- Generative alliance, 113, 118–121
- Generative alliance, definition, 16
- Generative families
- business/wealth creation, 305
- continual cross-generational value creation, 7–10
- definition, 16
- development arc, 114–116
- direction, 233
- evolution, 61
- experience, 32
- family talent development, 90
- financial resources, 19
- first-generation mega-philanthropists, difference, 338
- first/second generation members foundation, 109
- future, 353–354
- governing document, 259
- impact, 287
- membership offering, 324
- multigenerational endeavor, 62
- nonfamily CEOs, presence, 328
- parents, impact, 305
- percentage, 103f
- policies/activities, creation, 183–184
- qualities, 26f
- recurrence, 339
- resilience, 114
- stock, classes, 192
- struggles, 163
- success, 333–334
- transformations, 91–92
- path, 91
- values
- wisdom, 1
- Generative family enterprise
- Generative governance, 31
- Generativity, 301
- achievement, practices, 353
- Generosity (successor value), 295
- Gilded Age (New World), 46–48
- Gilded ghetto, 298
- Giving circles, 340–342
- Giving Pledge, 346
- Global commerce, family enterprise (impact), 3
- Global company, example, 318–319
- Global giving, place-based giving (contrast), 337–338
- Global instability, family enterprise refuge, 352–353
- Globalization, 55
- competition, 92
- Global Philanthropists Circle (GPC), 341
- Goals
- God, honoring, 272
- Golden goose, production (cessation), 291
- Golden Rule, 276
- Goldseker, Sharna, 153–154
- Goods, moving (cost reduction), 55
- Goto, 37–38
- Governance, 198, 215. See also Family governance
- boards, creation, 191
- centers, 103–109
- committees, service, 328
- creation, absence, 263
- definition, 16
- development, 215–216
- formal governance process, 315
- fourth generation, involvement, 157
- initiation, 67–68
- involvement, 330–331
- knowledge/skills requirement, 345
- participation, 322
- platform, 30–31
- policies/structures, impact, 26
- practices, prevalence (increase), 226–227
- process, 217
- reference, 67
- structures, 190–191
- time/energy, commitment, 97
- usage, 344
- Governing document, 259
- Grameen Foundation, 164
- Grandparents
- Gratitude, benefits, 335
- Great family
- Green buildings, focus, 170
- Grounding, 103–109, 110
- generative family transformation path, 91
- Growald, Eileen Rockefeller, 53–54
- Growth committee, creation, 145
- Grubman, James, 63, 287
- Guide, finding, 306
- H
- Harmony culture, 41
- Harvesting, 110
- Haymarket Foundation, 340
- Heirs
- Henokiens Association, 43–44
- Hero's journey, 299
- Hidden champions, 35, 50–52
- Histories, activities, 212
- Holding company, usage, 5
- Honor culture, 41
- Households
- House of Rothschilds, 41–42
- Human capital, 28, 331
- Humility, impact, 276
- Hybrid family/business social system, 23–24
- I
- Idea bin, 327
- Identifying generations, definition, 17
- Identity, development, 297–300
- Inclusiveness (family quality/value), 218
- Independence ethic, family development, 81
- Independent board directors, prevalence, 188f
- Individual identity (search), philanthropy (usage), 340–342
- Individual, potential/capability, 287
- Individual support, 356
- Informal mentoring, 320
- Inheritance conversation, 256
- Inheritor, qualities, 285–286
- Innovation, 117
- In Praise of Nepotism (Bellow), 37
- Integrity (family value), 272
- Intention, reality (gap), 135
- Interconnected paths, generative alliance, 118–121
- Intergenerational activities, features, 311
- “Intergenerational Dialogue,” 54
- K
- Kongō Gumi, 39
- L
- Leaders, 291–292
- Leadership
- Learning organizations, 108
- Le Breton-Miller, Danny/Isabelle, 51
- Legacy, 276. See also Family legacy
- alliance, 118
- capital, 28
- companies, 81–84
- craftsmen/opportunists, relationship, 120t
- elements, 121–127
- factory, usage, 159–160
- families, business/family boundary/separation, 331
- family, definition, 16
- identity, sustaining, 204–205
- letter/statement, usage, 267
- letters/videos, 280
- letters, writing, 272
- values, 114
- Legacy business, 12
- Legacy Capital, components, 360
- Legal documents
- Lescent-Giles, Isabelle, 333
- Liang, Jenna, 341
- Life
- Lifestyle supplement, 289
- Liquidity
- Listening, usage, 39
- Living generation, inspiration, 334–335
- Local mayor, office (accountability), 348
- Long-term business resiliency/growth/development, 26
- Long-term commitment, 121–124
- Long-term decisions, 123
- Long-term family enterprises
- Long-term horizon, 123
- Long-term investments, income, 97
- Lorenz, Katherine, 346
- Losses, treatment, 38
- Luxury, avoidance, 38
- M
- Management
- Managerial capitalism, 35, 48–50
- Managers, attraction process, 128
- Managing directors, impact, 192–193
- Mann, Thomas, 41
- Manufacturing, digital platforms/technology (ris), 55
- Marcus, George, 47
- Materialism, challenge, 292–293
- Matriarchs, description, 210
- Maxwell, Robert, 45–46
- Medici family, example, 40–41
- Membership, impact, 331
- Mentor, finding, 306
- Mentoring, 310, 319–322, 332
- informal/formal mentoring, 320
- Merlin, Leroy, 165
- Messages, passage, 291
- Mission. See Family councils
- Mitchell, George/Cynthia, 346
- Modern corporation, rise, 48–50
- Money, 288
- Moody, Michael, 153–154
- Moral agreements, 261–263
- Moral goals, 338–340
- Mulliez, André, 165
- Multigenerational family business, culture, 113
- Multigenerational family enterprise
- Multigenerational giving, 345
- N
- New family leaders, professionalization, 138–141
- New generation
- New philanthropy, old philanthropy (contrast), 337–338
- New wealth, consideration (absence), 69
- New World (Gilded Age), 46–48
- Next generation. See Rising generation
- NEXUS, 340–341
- Noblesse oblige, 333
- Nonfamily
- Nonfamily CEO, 221
- Nonfamily leader, 293
- Nonmaterialism (family value), 272
- Nonowning family members, definition, 17
- Nonprofit organization, family (comparison), 329–330
- Nuclear households, composition, 20
- Numbering generations, definition, 17
- O
- Obscene words, avoidance, 39
- Older generations, role, 208–211
- Old philanthropy, new philanthropy (contrast), 337–338
- Operating business, 191
- Operating entities, defining, 261
- Opportunistic innovation, 114
- release, 146
- Opportunists, 91, 137
- Organizations
- Organized family voice, provision, 249
- Owners
- Ownership
- P
- Parental engagement, problem, 299–300
- Parents, vision/values (discussion), 304
- Partnership, paternalism (contrast), 70f
- Passive asset management, 334–335
- Paternalism
- Paternalistic industrialization, 35, 44
- Patient capital, 122
- Perceptions, 234
- Perry, Commodore, 39
- Personal Development Plan, development, 305–306
- Personal expenses, control, 39
- Personal values
- Personnel decisions, privacy/professionalism, 141
- Philanthropic endeavor, family foundation, 5
- Philanthropic resources, division, 345
- Philanthropy, 52–54, 177
- boundary, 162
- commitment, financing, 219
- committee, 82
- family constitution, 268
- generative family engagement, 343
- moral imperative, 335–337
- multigenerational giving, 345
- old philanthropy, new philanthropy (contrast), 337–338
- power, 339
- shared family activity, 342–349
- strategies, 340
- usage, 339, 340–342
- Picture books, activities, 212
- Place-based giving, global giving (contrast), 337–338
- Plant tours, 312
- Policies, explicit values, 75
- Political background, 329–330
- Polly Peck, collapse, 45–46
- Portals, corporate maintenance, 265
- Portfolio
- Prepare/anticipate (resilience cycle), 107
- Pride (successor value), 295
- Private achievements, 23
- Privately held companies, 5
- Private trust company, creation, 106
- Problem-solving session, 257
- Product
- Professional business, tribal family (contrast), 223f
- Professional education (family value), 272
- Professionalization, 116–117
- Professional management, pathways, 135–137
- Professional nonfamily leaders/advisors/executives, stakeholder group, 119
- Profits
- Pruning, 110
- Public achievements, 23
- Public businesses, culture, 113
- Public companies
- R
- Redefine/renew (resilience cycle), 107
- Refamiliazation, 35, 54–56
- Reinvention, 89–91
- Related households, community, 68–73
- Relationship
- Relationship Capital, reference, 360
- Renewal task force, 79–80
- Reputational goals, 338–340
- Réseau Entreprendre, 165
- Resilience
- Resiliency, 111
- Respect
- Responsibility, rising generation education, 26–27
- Rising generation (next generation), 283
- calls, 325
- capability (development), active plans (usage), 71
- choice, 325
- competence/capability, development, 253
- criteria, 356
- definition, 16
- desired capabilities, 305
- development, 309–310
- generative families, impact, 287
- dialogue, 212
- education, 26–27, 309–310
- educational programs, 301–303
- engagement, 338–340
- family enterprise employment pathway, 329
- family members, stakeholder group, 119
- family service, 324–332
- governance involvement, 330–331
- guidance, need, 327
- human capital, 331
- cultivation, 235
- impact, increase, 342
- inheritor, qualities, 285–286
- members
- participation, 345
- personal bonds, 334
- potential, release, 285
- programs, origination, 311
- skills, 300–302
- value, 318
- Robber barons, profit pursuit, 46
- Rockefeller Family Fund, creation, 54
- Rockefeller family, philanthropy/values-based enterprise, 52–54
- Rockefeller, John D., 52–53
- Rockefeller, Jr., John D., 52
- Roles, impact, 277–278
- Rothschild, Mayer Amschel, 41–42
- S
- S-curve, addition, 90f
- Second generation (G2), 4
- aging, 188
- business
- challenges, 61
- charter/mission statement creation, 271
- conflict, 72–73
- constitution, elements, 265
- cultural shift, 183
- decline/stagnation, 32
- elder
- entrepreneur example, 41
- estate control, 312
- evolution, example, 269–270
- expansion, 219
- funding, necessity (absence), 245–246
- growth, 223
- involvement, 135
- leaders, 293
- hands-on business owner/operators, 178
- member legacy, 64–65
- members, foundation, 109
- movement, social upheaval (impact), 157
- pattern, 119
- perspectives/histories, divergence, 63
- representatives, selection, 247–248
- second family constitution, signing, 270
- siblings
- successors, 64
- reactions, 63
- trust, 244–245
- Second-generation family
- Self-esteem (successor value), 295
- Seventh generation (G7) family
- Shared activities/practices, family infrastructure, 288
- Shared core purpose, 25
- Shared family
- Shared goals, 222
- Shared mission statement, creation, 270
- Shared purpose, affirmation, 66
- Shared purpose/values, sustenance/renewal, 24–25
- Shared service
- Shared values, 25
- Shareholders
- Short-term profits, forgoing, 97
- Siblings
- Single entrepreneur, achievement, 32
- Single legacy family business, 30
- Sixth generation, involvement, 313
- Skills, assessment, 306
- Small- and medium-sized enterprises (SMEs), 50–51
- Small business
- Social bonds/relationships, 37
- Social capital, 29, 217
- interest, expansion, 334–335
- Social Capital, reference, 360
- Social change, competition, 92
- Social events, planning, 172
- Social gathering, 206
- Social goals, 226
- Social impact travel, 350
- Social innovation, 334
- Social mission, family constitution, 268
- Social responsibility, 151, 173
- Social systems
- Social upheaval, impact, 147
- Social values/ventures, 268
- Societies, rituals, 313
- Stakeholder groups
- Stakeholders
- Steering committee, 254–255
- Steward
- Stewardship, 21, 276, 290–291
- Stock, classes, 192
- Stories, activities, 211
- Strategic Family Roadmap, 234
- Success
- Succession process (fifth generation), 139
- Successors, 327
- Sustainability, 151, 156, 334
- importance, 237
- Sweet spots, creation, 159
- Systems, history (understanding), 341–342
- T
- Talent
- Task, attention, 39
- Task forces
- Technology
- Teenagers
- Third generation (G3), 177
- adulthood, approach, 203
- aging, support, 116
- branch identity, importance (decline), 192
- business
- challenges, 42
- change, 134
- clarity, absence, 177
- constitution, emergence, 260
- control, passage, 10
- cousins, 145
- cultural shift, 183
- education, 135
- enterprise, elements, 16
- father, work value development, 302
- generative families
- governance, development, 233
- issues, 101
- leader, 293
- path, loss, 109
- leadership, 143–144
- independent directors, presence, 188
- legacy business, family member distance, 151
- maturation, 69
- members
- nonfamily leader, recruitment, 137
- owners, 211
- ownership transfers, 277
- pattern, 119
- representatives, selection, 247–248
- rules/structures, addition, 188
- second family constitution, signing, 270
- shared identity/ownership, discontinuation, 204
- shared wealth, 31
- siblings
- single legacy family business, 30
- size/complexity, 329
- successors, 64
- survival, 219
- transition, 78
- trust/respect, 277
- wealth (Rockefeller family), example, 52–53
- Third-generation family
- branches, 21
- business, presence, 129
- council, 245
- elder, education, 263–264
- enterprise, culture (change), 70
- enterprise, policies/practices, 70
- governance, need, 216
- investment group, creation, 144–145
- involvement, 139
- leaders, 239–240, 295
- legacy business continuation, 138
- lines, 190
- members, role, 62
- office, usage, 103
- opportunity, initiation, 309
- owners, comfort, 178
- ownership, example, 165
- preparation, 20
- relationships, cultivation/strengthening, 78
- successors, emergence, 301
- Thousand-year family enterprises, Asian origins, 35, 37–40
- Three-box tool, 296–2979
- Three-generation family foundation, example, 346–347
- Threshold Foundation, 340
- Time, commitment, 97
- Time line, activities, 211
- Traders, family fortunes (accumulating/sustaining), 35, 40–44
- Traeger-Muney, Jamie, 333
- Transitions, trouble, 137
- Transparency
- “Tribal” family/community, 75
- V
- Values. See Family councils; Family values
- action, 270–271
- conversation, 256
- defining, 272
- embracing, 318
- focus, 295
- instilling, 294
- legacy values, 114
- maintenance, 94
- parental discussion, 304
- rising generation education, 26–27
- role, emphasis, 271
- statements, examples, 272
- transmission, 292
- values-based culture, building/sustaining, 113
- values-based enterprise, 52–54
- values-based entities, family actions, 25
- Vanguard Public Foundation, 340
- Ventures
- Village tradition, 98
- Vision
- Volunteers, service, 328
- W
- War occupation, survival, 88
- Wealth
- character, parenting/developing, 290–296
- children, identity (development), 297–300
- conversations, 256
- creation
- creator, 256
- dimensions, 29t
- family wealth, promise (fulfillment), 27–29
- fourth generation, 84
- inheriting, 288–290
- management skills, assessment, 307
- messages, 306
- purpose, 288–290
- responsibility (successor value), 295
- Rockefeller family, example, 52–53
- sources, 93
- trappings, 297
- Welfare State, creation, 45
- Work
- Working group
- World war, survival, 88
- Y
- Younger family members
- Younger generations
- Youngers, 210–211
- Young family member
- Young people
..................Content has been hidden....................
You can't read the all page of ebook, please click here login for view all page.