Changes in family relationship, company success, and external factors such as the economy and industry trends may all have an impact on the values and emotions of family business members over time. Examples of how these transitions may manifest for different family members within a family business include:
Parents: With age comes the unavoidable consideration of passing on the family business to the next generation, as well as the corresponding necessity for succession planning. As a consequence, parents may devote more time to instructing and directing their children and other family members who work for the organisation. They may become more cautious and afraid, favouring security and predictability above growth and novelty.
Relationships between siblings evolve throughout time, often because each sibling assumes new responsibilities within the family business. There may be a generational divide in which the elder sibling feels forced to assume a leadership role while the younger sibling struggles to find their place in the world. Similarly, sibling rivalry may emerge over time if one or both siblings believe they were treated unfairly or did not get equal attention or admiration.
There are a variety of internal and external factors that may influence the values and feelings of family business members throughout time. Successful family companies recognise the need of responding to these changes.
Thank you for your post @Ahmad Your post meets the relevance criterion by addressing the impact of family relationships and external factors on family businesses, and it is generally clear and concise, meeting the clarity criterion.
The post is primarily descriptive, providing examples of how family relationships can change over time and how this can impact family business dynamics. However, the last paragraph introduces some analysis, suggesting that the quality and capacity of successors is crucial for successful succession planning.
In terms of synthesis, the post does not bring together the various ideas presented into a cohesive whole or provide original insights or ideas beyond the examples provided.
In terms of value-added, the post provides some useful insights into how family relationships can impact family businesses and the importance of effective succession planning. However, the post does not engage other members of the forum or encourage discussion, and it does not show receptiveness to other perspectives.
In terms of areas of concern, the post lacks specific citations to support its statements. While the post appears to be based on established knowledge and ideas in the field of family enterprise, including specific references would enhance the credibility of the post and provide readers with additional resources for further reading.