Not sure if this is corporate idiocy, or just
how life is, but there is a tried and tested phenomenon, which has even been distilled into a snappy phrase, that ruins good businesses.

The problem is genetics. There are many examples, I have worked for two of them in my time.

Generation 1 builds the business.

Generation 2 enjoy the results

Generation 3 haven't got a fucking clue and ruin it.

Rags to riches to rags.

'Course, one of the logical factors that create more problems is multiplication - One smart Grandpa builds a big business, which is passed to 4 kids, who pass it to 13 of their offspring. The trough gets a bit crowded.

It's all very noble to want to pass down a family business equally, but if you don't look for the right one of your kids to pass control to (or if none of them are capable), there's no guarantee the business will survive.

I worked for a company that was founded by a man revered in our industry, his son, who was my boss was a charming but hopeless businessman. His kids were obnoxious spoilt brats who we all loathed.

I left in 1999, they stopped trading in 2005.
(username failed moderation, Tue 28 Feb 2012, 12:05, 4 replies)

Was that ERF?
They built the finest HGVs money could buy, but the kids fucked up the business to the point the last ERF was a badge on a German wagon. Timescale seems about right.
(all my scars face forward possesses 2.5% of a hyperalloy combat chassis, Tue 28 Feb 2012, 12:10, closed)

No, it was a Brazilian
trading company.

It's a pretty common story.

Where I work now is generation 2. The 3rd lot are still too young, but I'm pretty sure it's coming.
(username failed moderation, Tue 28 Feb 2012, 12:55, closed)

Isn't that the exact opposite of genetics?

(Falstaff's Spiritual Successor, Tue 28 Feb 2012, 17:44, closed)

This is worrying familiar.... Place I work for, Grandad was a great engineer but also a good businessman. Built the place up to the point where our products had a good name. Son also a good engineer but not a good manager. Can't see the point in changing a product that works. Still, past success carried us on until fairly recently when it has become obvious that the competition have been changing products that worked and now have things cheaper and better than us.

Grandkids, well, your description of Generation 3 covers it nicely. One refurbised his house on the company and once invoiced us for giving his opinion on something - the opinion was 'I don't know'. Daughter has no idea how to manage people - the carrot doesn't get a look in - and seems to base decisions on how much it will annoy the workforce rather than how well it will get the job done...

Once Gen2 goes half the company will be closed no matter how much money it makes and the other half run in to the ground within a few years. The only hope is that Gen3 will bankrupt themselves as well as putting innocent people out of a job, but I suspect even that bit of justice will be avoided...
(Slave to Percy, Tue 28 Feb 2012, 22:56, closed)