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MARIAL CENTER COLLOQUIUM Joe Paul (Director Emeritus and Fellow of the Family Firm Institute (FFI) The Bundle of Sticks and the Tie that Binds Them: Narrative Dissonance in Families in Business Wednesday, January 24, 4:00 p.m.-6:00 p.m Aesop once told the following story: Once there was a father who summoned his three children to his bed as he neared death. He wanted to give them a final gift to help them in life. He reached under his pillow and pulled out a bundle of three sticks tied together with a cord. He then gave the bundle to each of his children and asked each of them to break the bundle. As you may remember, they could not break the bundle. The father then took the bundle, untied the cord, and gave one stick to each of his children and asked them to try to break the stick they were now holding. They tried and each of them did break the individual stick. "Children," he said, "this is to show you that together you are stronger than you are separately." In an elegantly simple way this fable speaks to us about the wisdom of holding family assets together across generations. But sometimes, in spite of inspired planning, being part of a family in business or a family that shares collective wealth does not make individuals feel stronger. In other families the cord is broken or comes unraveled because the pressure to separate is stronger than the cord that binds the family together. And sometimes the problem lies in what the cord is made of. Families in businesses come in many sizes-- from the small family farm to multinational, multi-billion-dollar portfolios of companies that are owned by a single family. They populate all industries. They exist in all cultures, political systems, and religions. They form the foundation for most economies. Regardless of their size and sophistication, one of the most common threats to their tangible assets is an intangible liability--"narrative dissonance"-- a condition in the family where the stories that individuals carry about their family and their business don't match up. Since 1978, Mr. Paul has helped families communicate, plan for their future, and grow their tangible and intangible assets. Much of his work focuses on three of the recurring challenges that face families in businesses. +Development and transfer of leadership. +Resolution of family issues that interfere with decision-making and the development of assets. +Management and transfer of the intangible assets that are the core of a company's competitive advantage. Mr. Paul's work has been featured in national and international media. He consults, trains and lectures around the world on family business issues to trade groups and professional associations. He is a director emeritus of the Family Firm Institute (FFI), an international professional association for family business consultants and advisors. He was honored by FFI with the status of fellow because of his contributions to the field. He is the co-author and author of several family business assessment devices including The Aspen Family Business Inventory , and The Family Wealth Management Inventory , and The Aspen Family Foundation Inventory . He has a B.S. in psychology from Southern Oregon State College, and a M.S. in clinical psychology from the University of Idaho.
DIRECTIONS TO THE MARIAL CENTER The MARIAL Center is located on the 4th floor of the main building of Emory's Briarcliff Campus,
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