Family

Why do some families thrive for generations? What accounts for the sad deterioration that others experience? This book takes families and the professionals who serve them beyond the now widely accepted practices offered in Family Wealth and offers a view of Hughes's panoramic insights into what makes families flourish and fail. It lays out the basis for the vision of family governance the author has been developing through his work and research. His advice addresses not only what to do but how to think about the complex issues of family governance, growth, and stability and the ongoing challenge of nurturing the happiness of each family member.

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 137 13 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