4 ms·
Millions of family businesses think otherwise.
by handzhiev 13y ago
Millions of family businesses think otherwise.
- delluminatus 13y agoThe difference is, in these cases the business hierarchy usually follows the family hierarchy. In other words, parents hire kids. This is an established paradigm. Sometimes siblings hire each other as well, and that can be OK more often than not. But, that's not to say kids should hire parents. In that case, the business dynamic and family dynamic are very different. From a historical/statistical perspective this is an extremely unorthodox arrangement, for a good reason imho.
- Heliosmaster 13y agoMaybe at first. But after the children take over, it will be the other way around.
- PakG1 13y agoIf the children take over, this usually means the parents are retired.
- mercer 13y agoInteresting. Is this also the case for siblings or other family relationships that are not parent-child? In my own experience I've seen quite a few businesses run by, say, the youngest son who essentially hired his older brother. I have no idea about the statistics on this; I'm just wondering.