Understanding generational differences.

• Position: Brief Article

The following summarizes some of the typical differences that Pulliam observed between the generations in family businesses that he has advised.

* The older generation tends to:

--Reflect the influence of the Great Depression.

--Assume that families rely on a single-wage earner.

--Be secretive, and refuse to share information about the payroll, etc.

--Be autocratic, expecting others to do as they are told.

--Stay pretty close to home.

--Be gender-sensitive, looking at sons and daughters differently.

--Be satisfied with permanent small businesses that provides a monthly income without expectations that go beyond the near term.

* The younger generation tends to:

...