FAMILY - Grant Thornton

B R I E F S
Source: "Traits of a healthy
family" by Delores Curran,
Harper and Row Clayton C
Barbeau YPO workshop, 1995.
FAMILY DYNAMICS
TRAITS OF A HEALTHY FAMIL
Healthy families:
● communicate and listen
● affirm and support one
another
● teach respect for others
● develop a sense of trust
● have a sense of humour
● share responsibility
● teach sound values
● have a strong sense of tradi-
tion
● encourage a balance of
interaction between members
● share common religious or
spiritual perspectives
● respect one another's privacy
● foster family conversation
and family time
● share leisure time
● admit to problems and seek
h e l p .
"Meet the environment's needs today in a way
that doesn't compromise the opportunity for
future generations to do so"
SIBLING DYNAMICS
By the time they've started
working in business together,
siblings know each other well
enough to know how the
other one thinks, responds to
pressure, and what it is that
motivates him or her. In addition,
they will usually have
developed some conflict-resolution
skills.
But research suggests
that birth
"Elders always
lament change - and order may have
the young cannot wait implications for the
for it" - Malcolm family enterprise,
Forbes since it could provide
for the range
of personality traits which are
needed to run a successful
family business.
Firstborn children:
● tend to be seen as special
● receive a great deal of attention
● are often trained to take on
leadership and responsibility
● tend to protect and care for
younger siblings.
Y
Sam Johnson of S C Johnson and Sons
Youngest children:
● are special because they are
last
● are usually in the company
of others, and grow up seeking
to be understood by others
● tend to focus inwards
● although competitive, know
how to give in to someone
older and more powerful.
Middle children:
● often become skilled at
negotiating for attention
● tend to look outside of the
family for recognition.
Only children:
● often seek attention from
authority figures
● grow up less experienced in
sharing resources and solving
interpersonal conflicts.
Based on these factors, the firstborn
may contribute good
leadership skills, the middle
child negotiation skills, and the
youngest may be the innovator
in a family business.
THE 12 COMMANDMENTS
FOR OWNER-MANAGERS
OF FAMILY BUSINESSES
1You shall share your
dream with your family
2You shall inform your
managers and employees,
"this company will
continue forever"
3You shall develop a
workable organisation
and make it visible on a
chart
4You shall continue to
improve your management
knowledge, that of
your managers and that of
your family
5You shall institute a professional
accounting
system, and make the data
available to your managers,
advisers and
directors
6You shall develop a
council of competent
advisers
7You shall submit yourself
to the review of a
board of competent outside
directors
8You shall choose your
successors
9You shall be responsible
for ensuring your successor
is well taught
You shall retire and
10install your successor
with your powers during
your lifetime
You shall settle your
11estate plans now
You shall apportion
12your time to see that
your commandments are
kept. ■
8 FAMILY BUSINESSBRIEF