Chapter
The Pros and Cons of Running a Family Business
19:14 - 23:55 (04:41)
Running a family business has its advantages in terms of retaining ideas, but it can also lead to disappointment and perceived hypocrisy. Conflicts are also common in both family and non-family firms, but getting fired happens more often in non-family firms.
Clips
Referring to your workplace as a family may create unrealistic expectations for employees and lead to disappointment in their job.
19:14 - 21:35 (02:20)
Workplace
Summary
Referring to your workplace as a family may create unrealistic expectations for employees and lead to disappointment in their job. It also implies a level of love and loyalty that may not actually exist.
ChapterThe Pros and Cons of Running a Family Business
Episode“Narcissist, Taker, or A**hole” (with Adam Grant)
PodcastHBO's Succession Podcast
Family firms retain ideas better, but also spend more time mediating conflicts.
21:35 - 23:55 (02:20)
Family Firms
Summary
Family firms retain ideas better, but also spend more time mediating conflicts. Sometimes a family member cares deeply about the legacy and can continue it with integrity. During a crisis, there isn't one single thing to do.