Three interdependent and overlapping groups make up the Three-Circle Model of Family Business: family, ownership, and business.
The Model identifies the locations of key individuals in the system
Each of the seven groups identified by the Model has its viewpoint, goals, concerns, and dynamics. The Model reminds us that views from all sectors should be respected and taken into account
Regardless of the superiority of one viewpoint over another, it is important to take into account the diverse viewpoints when determining’s the family business system. For family business systems to succeed, each of these groups must function and support one another.
In my family business there are some significant imbalances at the Family side, e.g., the eldest generation (first generation) is sceptical about whether being able to keep their lives in balance whereas the younger (second-gen) generation is doubtful about being able to achieve their career goals, whether or not they will be able to fulfil their aspirations and ambitions if they will get equal shares in the company.