Family. The Compact Among Generations. Bloomberg

  • ID: 2239541
  • Book
  • 352 Pages
  • John Wiley and Sons Ltd
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It′s an unfortunate but common pattern: A family achieves wealth and stability but can′t sustain its success beyond the second generation. An enterprise fails, a dynasty is lost, and pain and suffering prevail. In Family: The Compact Among Generations, James Hughes presents the reasons and the remedies for this phenomenon.

The book is a journey of discovery. Drawing on evidence from ancient history, political science, psychology, physics, organizational science, and a myriad of other disciplines and spiritual traditions, Hughes makes seemingly discordant pieces fit to form a whole that is both instructive and inspiring. Distilled through this seasoned observer of families, the wisdom and insights of some of the finest minds in history make sense in a new way a way that can truly help families overcome their most formidable challenges. Bringing to bear decades of experience working with and studying families, he maps the mistakes that lead to decline and the approaches to family governance and personal development that can prevent it.

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Preface ix

Acknowledgments xiii

Introduction xvii

Part One Families of Affinity: Their Nature and Practices

1 A Family of Affinity 3

2 Defying a Proverb 13

3 Obstacles to Affinity: The Seven Paradoxes 21

4 The Physics of Affinity 31

Part Two Defining the Journey

5 Essentials for Success 47

6 Happiness: Finding the Spiritual Path 61

7 Self–Actualization: Lessons from Psychology 81

8 The Evolution of Family 91

9 From Family to Tribe: The Emergence of Governance 101

Part Three Principles of Family Governance

10 A System for Joint Decision Making 117

11 Participation and Commitment 129

12 Function and Structure 13713 Change and Accommodation 147

Part Four Family Leadership

14 Family as an Organization 157

15 Ensuring Dynamic Ownership 169

16 The Second Generation: Leadership s Critical Stage 189

17 Women and Ownership 203

Part Five Tools and Pathfinders

18 The Essentials for Learning 211

19 Educational Assessment Tools 221

20 The Personne de Confiance: Service Redefined 233

21 Roles and Characteristics of a Personne de Confiance 247

22 A Father s Wisdom 265

Epilogue 283

Appendix: Recommended Reading 287

Index 309

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JAMES E. HUGHES JR. is a sixth–generation counselor–at–law, now retired, and author of many influential articles on family governance and wealth preservation. He is renowned for facilitating multigenerational family meetings, with an emphasis on governance issues. Hughes is frequently called on to address international and domestic symposia on helping families to avoid the fate of the shirtsleeves–to–shirtsleeves proverb and to instead flourish through the growth of their human, intellectual, and financial capital. He also addresses these and other issues on his Web site at

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Note: Product cover images may vary from those shown