When it comes to engaging successfully with the next generation in a family business, plenty has been discussed around their priorities, changing value system, purpose drive, and involving them in the business interests. Ultimately, all of this is necessary to secure family business succession and at its core, this usually involves direct and open communication between the generations, clarity around business goals, and working towards a collective dream that can help to build alignment. However, the factors playing a role in alignment and effect engagement are constantly changing. With global interest growing in areas of sustainable development, and in particular climate change, there’s been an increase of cases that demonstrate there’s a strong disconnect between the goals and ambitions of different generations.
One recent example is the feud that took place amongst the Murdoch family
Having previously distanced himself from the family’s network for how they’d covered the role of climate change, in July 2020 James Murdoch, son of media mogul Rupert Murdoch, resigned from his role on the board of directors of News Corp. His letter of resignation stated that his decision to leave was “due to disagreements over certain editorial content published by the company’s news outlets and certain other strategic decisions.“
