I Don't Wanna Grow Up: The 8 Challenges Facing the Next Generation in Family Business

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A significant percentage of college students majoring in business come from families that own and operate businesses. As a group, these students face greater risks, opportunities, and challenges. For many, their most significant career decision is if, when, how, and why they should be involved with the family business. Unfortunately, few universities do anything to help this group as a distinct cohort, and yet the institutions that do are more likely to focus on academic study versus practical application. The purpose of this article is to both outline the challenges these students face and suggest strategic advantages for universities willing to better serve this stakeholder group.

Keywords: Family Business, Education, Next Generation
Stream: Curriculum and Pedagogy; Student Learning, Learner Experiences, Learner Diversity
Presentation Type: Paper Presentation in English
Paper: I Don’t Wanna Grow Up

Dr. Greg McCann

Professor, Family Business, Stetson University
Deland, Florida, USA

Dr Greg McCann is a full professor at Stetson University. He is the founder and creator of the Family Enterprise Center which has not only been acknowledged with four international awards, but has created the nation's second minor and first major in family business. He is a lawyer and CPA. Beyond academic publications he writes for various family business publications with his most recent book for the next generation entitled: When Your Parents Sign the Paychecks (JIST). He is on the board of directors of the Family Firm Institute, founder of the McCann Consulting Group, and noted speaker on topics related to family business.

Jill Shipley

Senior Leader Family Learning, Private Wealth Education, GenSpring
Jupiter, Fl, USA

Jill Shipley works with many of the nation's wealthies families, with a focus on helping the next generation develop their character and sense of responsibility through managing wealth. She develops programs for this group, speaks, and writes on these and related topics.

Ref: L08P0359