Tilling the Soil—And Wait and See How the Next Generation Develops
Stefan Prigge () and
Peter Klein ()
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Stefan Prigge: Institute for Mittelstand and Family Firms, HSBA Hamburg School of Business Administration
Peter Klein: Institute for Mittelstand and Family Firms, HSBA Hamburg School of Business Administration
Chapter 7 in Family Entrepreneurship, 2021, pp 85-95 from Springer
Abstract How does the family, as a system, establish, develop, promote, support, and teach entrepreneurship as a behavior, belief, or value across generations? The following can be derived from our discussions and experiences with entrepreneurial families as a basic recommendation to the parent generation for the treatment of the next generation: “Tilling the Soil—and Wait and See how the Next Generation Develops”, where wait and see means, that no explicit or implicit compulsion or pressure of expectation is created toward the next generation. The parent generation can already cultivate the field in the direction of pro-entrepreneurship, but rather through information, example, and nudges, without coercion. This basic recommendation will be explained and justified in three sections: 1. How to cultivate the field in a way that promotes entrepreneurial mindsets of the next generation without putting pressure on them. 2. Why it is so important that no coercion whatsoever be exercised. What can happen when it is exercised? 3. How diversified can the harvest result be from the cultivated field, that is, how varied can the degree of entrepreneurial mindsets and the connection to the family business be over the decades in the adult life of the following generation?
Keywords: Entrepreneurial mindset; Hereditary traits; Identification with the family firm; Psychological ownership; Succession; Transgenerational entrepreneurship (search for similar items in EconPapers)
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