There are different stages and cycles of family business; for example, ownership stages can contain owner-manager, sibling partnership, and cousin collaboration (Chakrabarty & Bass, 2014). This aspect made me interested to learn about how business needs change as the family grows. Introduction to YouTube video ‘crazy rich asians’, offered themes like family, tradition, class and cultural difference to play a major role in family. We also taught that each stage comes with different leadership and communication challenges, where my peers led a discussion on how sons and daughters may have different experiences in business roles. My response regarding the need for a clear role and promoting gender equality supported this aspect’s solution, reflecting the role of inclusive leadership in long-term business success.
Reference:
Chakrabarty, S., & Bass, A. E. (2014). Corporate governance in microfinance institutions: Board composition and the ability to face institutional voids. Corporate Governance: An International Review, 22(5), 367-386. doi:10.1111/corg.12071