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The five challenges of wealth inheritors

October 8, 2021

Children of wealth must overcome five key challenges to generate a sense of life purpose and a positive and facilitative emotional connection to their money.

Children of wealth must overcome five key challenges to generate a sense of life purpose and a positive and facilitative emotional connection to their money.

Each challenge describes an important aspect of the psychological relationship to the saving, spending, and sharing of wealth. To develop a positive wealth identity, children must resolve conflicts and overcome their vulnerabilities in each area.

Challenge 1: Financial awareness

Priyanka Gupta Zielinski on next generation succession and women in family business

September 13, 2021

Reassuring women that their place in the family business is permanent is “absolutely essential” to empower women to become successors, next-gen family business leader and author Priyanka Gupta Zielinski says.

How to manage conflict in the family business

April 28, 2010

What is conflict? One definition states it is “an expressed struggle between at least two interdependent parties who perceive incompatible goals, scarce resources and interference from others in achieving their goals,” writes Walid Chiniara

What is conflict? According to just one of many definitions, it is "an expressed struggle between at least two interdependent parties who perceive incompatible goals, scarce resources and interference from others in achieving their goals," writes Walid Chiniara.

Leadership in family business – the what, who and how

November 1, 2004

The leader of a family business can define the identity of the business. Nigel Nicholson guides any potential or actual leaders with the what, who and how of smart leadership

Nigel Nicholson is Professor of Organisational Behaviour at London Business School.

The leader of a family business can define the identity of the business. Nigel Nicholson guides any potential or actual leaders with the what, who and how of smart leadership

Familiness – fatal flaw or inimitable advantage?

March 1, 2004

Many a family firm has crashed and burned amid recrimination, but many remain the world’s most respected enterprises. So just what is the role of leadership and family culture in the chemistry of success and failure?

Nigel Nicholson is Professor of Organisational Behaviour at London Business School. Åsa Björnberg is Research Assistant at London Business School on the LIFBRI (Leadership in Family Business Research Initiative).
(This work is supported under ESRC grant – RES-051-27-0086. For a more detailed report of the survey findings or further information contact the London Business School. www.london.edu/family_business/)