When the grandson arrives and grows, the grandfather has retired. He has a lot of time to spend with the grandson and partly due to the guilt of not taking care of his son well, he showers the third generation member with all the goodies. In short, the grandson grows up as a spoilt child. Imagine, a bunch of such people-the cousins consortium- coming over to take up the leadership as the third generation. This leads to the classic third generation syndrome. Unlike siblings, who are brought up by the same parents, cousins come from different value systems. All these begin to affect the family and then the business. On the other hand, if the family is aware of the value system, it will consciously teach the next generation those values which in turn keeps the family united.
http://www.thefreelibrary.com/"Family elders must step down ...

Considering these variables in the context of a business family
with living members in the third, fourth and fifth generations
prompted us to ask the following two questions.
• Is it possible for fourth-generation cousins who have little or
no personal relationship to create and maintain a cousins’
consortium that will enhance the preservation of that
extended family’s human,social,intellectual and financial
capital for the next hundred years?

When a generation of cousins considers the possibility of
organising itself into a “cousins’consortium,” they need to match
organising tasks to the stakeholders’interests and experience.
http://www.transitiondynamicsinc.com/docs/EmotionalBarometer...