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Lg Investments, Llc: a Family Business in Generational Transition

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Lg Investments, Llc: a Family Business in Generational Transition
LG Investments, LLC: A Family Business in Generational Transition

Questions posed to Tom and Carol
G2 SON SEEKING VICE CHAIRMANSHIP
G2 SIS SEEKING SALARY AND BENEFITS LIKE THE WORKING SISTER FOR ALL OF THE SIBLINGS
G3 KID SEEKING JOB IN COMPANY AFTER GRADUATION
How should tom n carol respond to the three questions?
Recommendations to the Questions Asked..
G2 son seeks Vice Chairmanship:
Although it’s a family business that would be inherited by them but it does not mean leadership can also be inherited. The son has to earn the title. Tom and Carol should ask the son to work In the company for a while before taking any further decisions about chairmanship.

G2 SIS seeking same SALARY and BENEFITS like the other working sister:
It would be unfair to give the same benefits to the rest of them as they do not work here. The rest of them are only eligible for inheritance. For gaining same salary and benefits, other should have to work full time for the company and gain experience. It would be unfair on the working sister to get the same benefits as the non-working members of the generation. Tom and Carol should sit and discuss the situation and make them work for the fruits they seek rather than offering them in a plate.

G3 seeking a JOB in the COMPANY: A generation 3 seeking a job augurs well for the company. Tom and Carol should encourage the boy and chalk out a progression plan for him. It is important for him to gain business experience. Tom and carol should set goals for the kid and encourage him to succeed in the family
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