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Fredo a family member who is a serious hindrance to the firm (Cause…
Fredo
a family member who is a serious hindrance to the firm
Caracteristics
Consequences
Impede the business
Cause
Importance of the person and not his competences
Parental altruism
Guilt for past parental behavior
Differing norms of the family domain vs business domain
Solutions
Prevention
Human resources prcatices
Separate family goals from business goals
Invites to regular family council to discuss about family and business issues
Same standards as non-family employees
Monitored to the same extent as non-family employees
Held accountable for their actions
Links
https://www.forbes.com/sites/stevenberglas/2012/04/23/the-fredo-factor-what-business-founders-can-learn-from-the-slow-corleone-son/
https://www.linkedin.com/pulse/fredo-effect-family-owned-companies-gabriela-vogel-pmp/
