Ed has a tough choice before him – one that could conceivably fracture his family and wound the family enterprise. His three adult kids, all of them executives under him in the business, are all capable and hard working. Any one of them could serve as CEO when he steps down. Now, with his retirement […]
Mom (upon leaving their attorney’s office): This estate planning is driving me crazy! I know we’re trying to reduce taxes but it’s important to me that we treat all the children fairly. How else can we do that without giving each one an equal interest in the business? Dad: But why would we do […]
Webster’s describes entitlement as “the belief that one is deserving of certain privileges.” But when it comes to family businesses, a sense of entitlement is more than feeling “owed” or “deserving,” it’s about expectation as well. Indeed, usually the problem isn’t the feeling of entitlement; it’s how family members act, and how such actions are […]
Matt’s having problems with his boss, and it’s gotten so bad he’s considering quitting his job and looking elsewhere. He’d been put in charge of a new division, but it’s foundering, and he feels that he’s getting blamed unfairly for its failure. He sees the business suffering because of high overhead, partly because his boss […]
Dad (speaking about his son and daughter): You’d think Harold would be more responsible. He has always been late and I’m really fed up with it. I swear if he does this one more time, that will be the end. Then he can go out and try to get a job somewhere else and see […]
It was a familiar, sour start to the business day: Dad calling his son and second-in-command, Richard, onto the carpet for being late to work yet again. What kind of example was he setting for the other employees? What if everyone just came in when they wanted to? Dad’s there early every morning, and Richard […]
Andrew (son): Dad, I’ve wanted to talk with you for a while about this, but, uh, it’s not that easy. I’ve been working really hard, putting in long hours, and have been here almost a year, and a lot of others in the company are earning more than I am. I think I deserve […]
It’s “déjà vu all over again, Martha thought as she listened to her younger son, Hugh, complain about how his brother Peter didn’t listen to his ideas or treat him with the respect he felt he deserved at the office. “He mocks me, Mom, in front of the employees! My work is as good as […]
Guest Post from Kellogg Insight Ask people what they would change about their organizations, and you are likely to get an earful. The company website is clunky; it’s past time to rethink that tired growth strategy; and why oh why does the sales team continue to neglect potential customers in South America? Someone should really […]
Jeffrey: Okay, Dad, so he’s your brother. But does that mean we have to put up with his inferior work and his erratic schedule that we would never tolerate from anyone else? And, for what he’s making, we could replace him with two people, both more productive.. Dad: Look, Jeffrey, Harry is my brother […]
