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Longevity and Success in Family Business

In: Entrepreneurs in Family Business Dynasties

Author

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  • Laura Hougaz

    (Study Connections)

Abstract

The aim of this chapter is to understand the extent of interest of the third-generation (G3) family members in engaging with their family firms, and explore their personal motivations for continuing their involvement in the family business, focussing on the family relationships and values that have supported effective intergenerational transmission, thus influencing the longevity of their family firms. This chapter first introduces the seven individuals who form the G3 in this study from the perspective of their profile, focussing on their identity and sense of ethnicity (‘Italianness’): this shows the ability and will of the G3 to keep alive the connection with the G1 and with their roots. The chapter then investigates their justification for their sustained commitment to the family business, as well as their attitudes and motivations. The subsequent, and main, part discusses aspects of family and business life (values) that are inherent in family firms, have shaped the behaviour of this generation, and have contributed to the continued growth and success of the family business into its G3 and beyond.

Suggested Citation

  • Laura Hougaz, 2015. "Longevity and Success in Family Business," Management for Professionals, in: Entrepreneurs in Family Business Dynasties, edition 127, chapter 10, pages 211-245, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-13918-0_10
    DOI: 10.1007/978-3-319-13918-0_10
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