CHAPTER 8Elders
“Old Age Hath Yet Its Honor and Its Toil”
As people are living longer and healthier lives, family enterprises are more and more often multigenerational affairs. At the same time, many of our societies glorify youth, not age. This condition raises two questions:
- What is the appropriate role for the family to give the senior generation?
- How can the senior generation remain active in the family's affairs in ways that are appropriate to their seniority but allow their children a chance to grow and lead?
If you are an elder, what are the gifts you bring to your family enterprise? Each family will come up with its own answer to this question. However, we've seen some patterns, both in history and in practice, that indicate several ...
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