Family Wars: The Real Stories behind the Most Famous Family Business Feuds
The authors, a family business executive and an academic, present case studies of famous family companies, including Koch Industries, Mondavi, IBM, Bata Shoe, The Dart Group, the Redstones, Guinnesses, Pritzkers, and Guccis. The authors provide lessons for understanding the warning signs of family conflicts and contend that the winners are those who recognize the problems early and find a fair resolution. They note that the root cause of family wars usually is the founder, who, while a great builder, can also be a great destroyer. Gordon and Nicholson conclude that the objective in dealing with family wars is to come out of the battle wiser, stronger, and with more discipline. Advice includes the ability to embrace change by recognizing that today’s assumptions may not hold for tomorrow, understanding the impact of the evolving values of the surrounding culture, and achieving flexibility through open communication based on strong values and principles. Lessons from this excellent book apply primarily to family companies, although there is thoughtful leadership insight for other managers. --Mary Whaley