The issue of possible generational differences among family businesses, and this study of that issue, are important because family business owner-managers and both those who
research and those who assist family firms need to know whether it is of value and
perhaps necessary to differentiate between generational categories within the total
population of such firms. Are there significant differences which should be studied more
fully, and would these differences in turn mean that different forms of management and
of assistance would be most effective for first-generation versus subsequent-generation
family firms?
Clearly, much of the existing literature regarding possible generational differences among family firms is not supported by this current research study. In most respects, 1GFFs,2GFFs and 3GFFs share the same management activities, styles and characteristics. Most prior studies’ examinations of generational issues were only a small or tangential part of a larger focus on other or broader family business issues. Thus, the hypotheses formulated for this study were based on limited research conclusions. Even though this current study provides a stronger testing of these issues than earlier studies, these current findings still indicate a need for more focused and more extensive analysis of generational similarities and differences among family firms.
The issue of possible generational differences among family businesses, and this study of that issue, are important because family business owner-managers and both those who
research and those who assist family firms need to know whether it is of value and
perhaps necessary to differentiate between generational categories within the total
population of such firms. Are there significant differences which should be studied more
fully, and would these differences in turn mean that different forms of management and
of assistance would be most effective for first-generation versus subsequent-generation
family firms?
Clearly, much of the existing literature regarding possible generational differences among family firms is not supported by this current research study. In most respects, 1GFFs,2GFFs and 3GFFs share the same management activities, styles and characteristics. Most prior studies’ examinations of generational issues were only a small or tangential part of a larger focus on other or broader family business issues. Thus, the hypotheses formulated for this study were based on limited research conclusions. Even though this current study provides a stronger testing of these issues than earlier studies, these current findings still indicate a need for more focused and more extensive analysis of generational similarities and differences among family firms.
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