For a long time, it was commonly believed that business family values were handed down from one generation to the next. Values were set in stone. They were to be carefully preserved by successive generations. They were not to be changed. New research tells a different story.
The Journal of Family Business Strategy set out to learn how multigenerational business families pass down values between generations. The journal studied eight multigenerational business families. Across 23 interviews—with participants ranging between 18 and 83 years old—the journal came away with an unexpected conclusion: in long-lasting business families, values are not fixed.
How do values change in multigenerational business families? And what does that mean for your business family? Find the answers in this article.
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