Family Business
Resources

Who is NxGen?

Length

2 min

AppID

VIMEO-115271069

Description

Listen to Lena as she discusses the challenge in determining who the next generation is. When family members have a clear idea that the business will indeed be passed on to the next generation of family, they become increasingly motivated to contribute to the long-term success of the company.

Speaker(s)

Lena Jungell

Language

English
« Back to Catalogue

Transcript

The third generation was 8 people and the fourth was already 25, so they of course saw what was going to happen in some years. So today the fifth generation is 50 people and the sixth generation is already – I can’t even count them all now because there are quite many babies coming up all the time but they must be around 20. Then we started realizing that within the different generations – for example, in my generation, the fourth generation, I think we have an age gap of 25 years – so the discussion of who is next generation and what that means it’s a very broad definition, usually. If it’s a younger company, then next generation, it is quite clear who is the next generation, but for us, the generations have now-a-days already moved into each other. So for the moment, I see of course the next ... View More generation being my children and that is maybe the main driver why I say that it is very important and interesting all the time to be there to do as much as I can and develop our way of developing the family together.