Over the years I have observed in different situations, how people in similar roles develop contrasting values and emotions towards a family firm. For example, I have noticed in a closely-related family, how the sons reacted to their late father's loss-making cinema complex. Initially, it was a huge success and became a household name in the town. But after the introduction of the multiplex, it began to incur losses and only remained a landmark property. After the death of the owner, there was the inevitable question of what to do with it. While one son wished to sell it off, the other wanted to keep it in the family for its emotional value. They wanted to revive it and be able to continue the legacy. Similarly, the firm had two managers in an identical situation. One was a loyal employee, concerned about the best interests of the business. The other had taken too close to the project and the family, and wished to see it in the hands of the original owners and maintain its heritage. These changes can lead to conflicts and tension within the family.
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Family Business Labs
"The Successor's Paradox"
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