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All is Fair in Love and War… But What About Family Business?

Tulane Family Business Forum
Tulane University, New Orleans , LA
To Be Presented on May 16, 2019

A feeling of fairness is a critical ingredient in family businesses. Without it, a sense of dissatisfaction grows and trust is compromised. David Gage has written about how challenging it can be to maintain a strong sense of fairness when mixing love, money, jobs and family members’ identities in one business. He was invited to share his thoughts with about 60 members of Tulane’s Family Business Forum, the home of many multigenerational family businesses with deep ties to New Orleans and Louisiana.

Even when fairness is being managed, if there are continued perceptions of preferential treatment, privileged attitudes, or compensation disparities, the future growth and sustainability of the family business becomes fragile.