Family business makes for compelling drama—just ask anyone tuning in to the final season of “Succession”. But these days, nepotism at work is frowned upon
These days it is frowned upon—most publicly listed companies and professional firms ban it. Still, family businesses make up more than 90% of the world’s enterprises. Many of them, quite literally, are mom-and-pop shops. Some are large-ish businesses in smallish economies, like the one in Athens where this guest Bartleby, straight out of university, was put in charge of managing relations with institutional investors.
For the corporate heir, meeting family expectations and continuing a legacy while achieving personal fulfilment can generate a mass of contradictions, as Mann splendidly illuminated. Even in companies that insist they are meritocratic, no amount of skill will convince all your colleagues that you have actually earned your job. Any pre-existing domestic frictions might make their way into the business. And vice versa: disagreements over the business can breed feuds, often between siblings.
No wonder some heirs decide to hold on to their shareholdings, perhaps a board seat, but pursue a career elsewhere. Not all Waltons work for Walmart; it is hard to find Hoffmanns among executives at Roche, the Swiss drugmaking giant founded by their forebear in 1896.
For those who nevertheless decide to take an active role in the family business, it does not have to be a poison. Some of the logic that historically made family firms de rigueur continues to stand. For example, designated heirs—like Mr Arnault’s five children, all of whom now run parts of—are groomed early on, so by the time they are ready to take over they have already acquired some industry knowledge by osmosis.
At the personal level, work is not solely about money but also about empowerment and prestige. Your name on the door may bestow a sense of purpose. Preserving the legacy of an empire can be rewarding, so long as the heir displays passion and persistence. They can probably forget being one of the gang when it comes to office gossip, but they can earn their colleagues’ and subordinates’ respect with modesty and hard work.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Fundraiser launched to help family search for Renfrew man missing in LanzaroteGary Watson Shearer has been missing for 18 days after disappearing from outside a bar on the popular holiday island of Lanzarote where he had travelled to celebrate St Patrick's Day.
Weiterlesen »
Our whole family work at Wetherspoons - here are the things we wish you knewA FAMILY who are all employed at Wetherspoons have revealed what it’s really like to work there. Martin and Alison Drury have both been loyal staff members for 25 years and have shared what t…
Weiterlesen »
Family of girl murdered by Scots killer campaign to change lawAdam Stein, from Glasgow, was convicted of the rape and murder of six-year-old Collette Gallacher in a Northamptonshire town in the 80s but has since been returned to prison twice for reoffending.
Weiterlesen »
Coroner urges hospital bosses to meet with family of woman who died after procedureA coroner has urged hospital chiefs to meet with the grieving family of a woman who died following 'life-saving' cancer treatment.
Weiterlesen »
America's most inbred family who only speak in grunts began with twin brothersThe Whittaker clan from West Virginia, US have been left with a number of heartbreaking genetic defects as a result of a long family history of inbreeding.
Weiterlesen »