Longevity and Success in Family Business

The Third Generation: The Custodians of a Legacy
  • Laura Hougaz
Part of the Management for Professionals book series (MANAGPROF)


The aim of this chapter is to understand the extent of interest of the third-generation (G3) family members in engaging with their family firms, and explore their personal motivations for continuing their involvement in the family business, focussing on the family relationships and values that have supported effective intergenerational transmission, thus influencing the longevity of their family firms.

This chapter first introduces the seven individuals who form the G3 in this study from the perspective of their profile, focussing on their identity and sense of ethnicity (‘Italianness’): this shows the ability and will of the G3 to keep alive the connection with the G1 and with their roots. The chapter then investigates their justification for their sustained commitment to the family business, as well as their attitudes and motivations. The subsequent, and main, part discusses aspects of family and business life (values) that are inherent in family firms, have shaped the behaviour of this generation, and have contributed to the continued growth and success of the family business into its G3 and beyond.


Family Firm Family Business Dual Identity Family Solidarity Postgraduate Qualification 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer International Publishing Switzerland 2015

Authors and Affiliations

  • Laura Hougaz
    • 1
  1. 1.Study ConnectionsMelbourneAustralia

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