A ndrew Drake has written a slim but very readable volume as an
introduction for the young about understanding family business. I
think that it is one of the most important tasks that an advisor
can have to introduce to the next generation in a balanced way, the
privileges and responsibilities that come from inherited wealth.
But how do you tell the young without appearing condescending or
alternatively didactic?I think that my brother, who was a lecturer,
was very wise when he said that the principles about teaching are
that ‘never underestimate their intelligence, never overestimate
their knowledge’.
This volume I think handles the issues with due regard to the
principle, and gives a very broad and helpful introduction both to
businesses and to some of the issues that will come up within
family businesses about families themselves. The book does not aim
to be a text book from which the reader will take a professional
exam, but it does isolate issues clearly and will give confidence
to the young person to feel that he or she has understood the
building blocks. I particularly liked the balance between the
rights and the responsibilities that go with shareholdings and
directors and with duties to consider the employees of a
business.
The book is interspersed with cartoons, which keep the tone
suitably light, but I think that truth of the observations in those
cartoons will only become apparent to the young reader after some
years of experience!
I think it is a very well worthwhile introduction and I have
enjoyed reading it to be reminded of some of those basic features
of business as they would appear to someone meeting them for the
first time.
ISBN: 978-0-9551898-6-9
Price: GBP9.95
Publisher: Institute for Family
Business