Learning Stewardship in Family Firms: For Family, by Family, Across the Life Cycle

Abstract

We argue that learning by younger family members who are to be involved as steward-like owners, board members, or managers of their firms is a process that occurs in large part via senior family members over a significant fraction of the human life cycle, beginning in early childhood and enduring until well into a career. The object of such learning is to develop in young family members attitudes and capabilities that are of singular advantage to successful family firms: long-term stewardship and the resources it cultivates. We build on a typology of learning to provide insight into the learning experiences that can foster these stewardship attitudes and capabilities at different stages and ages, as well as for different stewardship roles.