Summary

Abstract

The benefits of family education to a family and its business are virtually incalculable. Who can gauge what “closeness” is when learning together brings family members closer, enhancing friendships and building understanding and respect for one another? How do we measure the contribution that family shareholders make when they have educated themselves about their business and joined together in making good decisions on its behalf? Who can put a price on the joy and excitement that grandparents feel when the youngest generation begins to recognize, respect, and take pride in what their forebears have accomplished in building and preserving a family business? How can one calculate the satisfaction that parents experience when their adult children assume the stewardship of their family’s firm?