Roger Fritz - Wars of Succession: The Blessings, Curses and Lessons That Family-Owned Firms Offer Anyone in Business
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Wars of Succession: The Blessings, Curses and Lessons That Family-Owned Firms Offer Anyone in Business
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Uses case studies to show how smart business owners make sure the right people take over.
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Wars of Succession : The Blessings, Curses and Lessons That Family-owned Firms Offer Anyone in Business
author
:
Fritz, Roger.
publisher
:
Silver Lake Publishing
isbn10 | asin
:
1563431378
print isbn13
:
9781563431371
ebook isbn13
:
9780585044163
language
:
English
subject
Family owned business enterprises, Family owned business enterprises, Industrial management.
publication date
:
1997
lcc
:
HD62.25.F74 1997eb
ddc
:
658.15
subject
:
Family owned business enterprises, Family owned business enterprises, Industrial management.
Wars of Succession
The Blessings, Curses and Lessons that Family-Owned Firms Offer Anyone in Business
Roger Fritz
Merritt Publishing Santa Monica, California
Wars of Succession The Blessings, Curses and Lessons that Family-Owned Firms Offer Anyone in Business
First Edition, 1997 Copyright 1997 by Roger Fritz
Some of the material in this book was previously published in the book The Entrepreneurial Family, copyright 1992 by Roger Fritz.
For a list of other publications or for more information from Merritt Publishing, please call (800) 638-7597.
All rights reserved. No part of this book may be reproduced, stored in a retrieval system or transcribed in any form or by any means (electronic, mechanical, photocopy, recording or otherwise) without the prior written permission of Merritt Publishing.
Library of Congress Catalog Number: 96-075089
Roger Fritz Wars of Succession The Blessings, Curses and Lessons that Family-Owned Firms Offer Anyone in Business Includes index. Pages: 330
ISBN 1-56343-137-8
Printed in the United States of America.
Page i
Table of Contents
Introduction: The Blessings and Curses of a Family-Owned Business
1
Chapter 1: Background and Basics
11
Chapter 2: The Family as a Source of Capital
35
Chapter 3: Leadership in the Family-Owned Business
55
Chapter 4: Separating Your Business and Home Life
81
Chapter 5: Treating Employees WellWhether They're Family or Not
105
Chapter 6: Using Outside Advice Effectively
131
Chapter 7: Working with a Spouse or Significant Other
149
Page ii
Chapter 8: Children in the Family Business
169
Chapter 9: Working with Siblings
193
Chapter 10: The Extended Family
203
Chapter 11: Divorce, Remarriage, Estrangement and Other Complexity
223
Chapter 12: The Dynamics of Succession
241
Chapter 13: Some Mechanics of Succession
263
Conclusion: The Greatest Asset a Family Can Have
287
Appendix
297
Index
321
Page 1
Introduction The Blessings and Curses of a Family-Owned Business
For the past 25 years, I have made my living by giving advice to business owners, executives, managers and supervisors. Among them were many people who started, owned and controlled family businesses. Their trials, tribulations and successes caused this book to be conceived, incubated and written.
A good friend of minea cynic given to quotable generalizationsargues that most people do not like to work and do so only as a matter of necessity.
He also says that most people who do work will do only as much work as necessary to keep their jobs.
Finally, he says that most people want more money, more company-paid benefits and more time offbut they aren't willing to pay for these things with more work, harder work or more personal responsibility.
If my friend and I disagree over these and a number of other business-related issues, it's because we view them from different perspectives. My friend has spent his entire career at the management level of a major international corporation. I have spent a large part of my
Page 2
career working with large corporations, too. But I've also spent a substantial amount of time working with small- and mid-size companies, many of which are family-owned and operated.
My conclusion: For better or worse, people who work for family-owned business aren't like most people.
The Nature of Families
Family-owned businesses come with unique challenges, because relationships are so intertwined and emotions run so deep. People define themselves most often by their work and by their family. Merge these together and you're bound to have potent circumstances.
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