Defining What’s Right for Your Generation

 

Each generation of family business owners must decide what business systems and principles are right for them, what traditions to continue and pass forward to their successors, and what outdated practices should be left behind.

 
 
 
 
 
 

“That’s Not Fair”: Creating Compensation and Employment Policies

 

At home, parents often give money more liberally to the children who need it the most, but applying that same standard in the family business can lead to disagreements between siblings and financial trouble for the company.

 
 
 

Constructing a Quality Family Business

 

Utah-based Layton Construction, founded in 1953, has grown into a national corporation with projects in 26 states, but still adheres to its founders’ basic principles. Its company culture empowers employees to make decisions based on the values of hard work, thrift, honesty and fairness.

 
 
 
 
 
 
   
 
 
 
 
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