We can see in the case story that Nicole is more of an emotional owner. Her attachment to the business is related to her family legacy, and carrying on the work of the previous generation. Next generation owners have varying levels of EO. Click on the circle to discover the four groups of Next Generation Emotional Ownership.
Engaging the Next Generation Fostering Emotional Ownership
Did you know that...
The degree of EMOTIONAL OWNERSHIP has a major impact on family business succession?
Weak EO
Emotional Ownership
Strong EO
What happens to the FB matters to me
I feel close to the FB
The FB is an important part of who I am
I identify with the FB
I care about the FB
I feel as if I belong to the FB
The Neutral
The Contrarians
The Unsure
The Supporter
Next Gen Emotional Ownership can be fostered!
- Allow us to set our own path
- Foster next generation autonomy
- Make it a choice, not an obligation
- Empower the next generation
- Do not force the issue
- Listen to us and what we want
Source: Björnberg & Nicholson, 2008; Emotional Ownership, FBN; Family Business Challenges, Engaging the Next generation, IFB
