The next generation is our future. Answering the most pressing thirty-five questions of Next Generation members in a short and concise, yet competent way -- leading academics, practitioners, and enterprising families come together to empower Next Generation legacies. Masterfully detangling the intricate dynamics of the family, ownership, business, and wealth, the authors share best practices, real-life examples, and critical questions for reflection. Part 1: Family: Defining family; Managing family dynamics; Dealing with conflicts; Family communication; Preparing generational transitions; Keeping the family united. Part 2: Ownership: Responsibilities and rights; Preparation of future owners; Dealing with non-active owners; Ownership transfers; Board expectations and roles; Owner networks. Part 3: Business: Preparing business entry; Working with nonfamily executives; Hiring family members; Promoting family members; Letting go of family members; Engaging family business consultants. Part 4: Wealth: Dealing with wealth; Pursuing a vocation outside of the family enterprise; Leaving the family enterprise; Selling the family business; Starting a family office; Pursuing philanthropy and impact investing. This is a powerful guide for Next Generation members and their families to ask better questions, make better decisions, live better lives, and build stronger legacies.
Peter Jaskiewicz was born into a business family. He is a full professor in family business at the Telfer School of Management in Ottawa, Canada, where he holds a University Research Chair in Enduring Entrepreneurship. At Telfer, he conducts cutting-edge research on family business, teaches family business in regular and executive education programs, and leads the school’s family enterprise initiative. To share new best practices and research insights, Peter is also a frequent keynote speaker at both academic and practitioner conferences. Moreover, he trains family business professionals on succession planning and, in his advising practice, provides support for the development of responsible Next Gen owners and effective Next Gen teams. He lives with his wife and their two children in Ottawa.
Sabine B. Rau is a renowned expert on moderating succession processes and co-creating family constitutions in Germany and abroad, and a visiting professor at Telfer School of Management in Ottawa. Born into a family with a family business, she was inspired to study management but realized that family businesses, and their specific questions, were not part of the curriculum. With the aim to teach and share best practices on family businesses, Sabine built and led family business centers at three leading business schools. She advises business families and serves on several boards as an independent director. Moreover, she teaches at Luxembourg University and is a frequent speaker at practitioner conferences. Sabine is a mother of three and a grandmother of two.
