Fjölskyldufylgni

Fjölskyldufylgni is an Icelandic term that translates to "family following" or "family succession." It refers to a phenomenon where family members, particularly within a business context, tend to follow in the footsteps of their predecessors. This can manifest in various ways, such as children taking over family-owned businesses, or individuals pursuing careers in fields historically dominated by their family.

The concept is rooted in cultural traditions and the strong emphasis placed on family ties in Icelandic society. It can be driven by a sense of duty and obligation, a desire to uphold family legacy, or simply the opportunities and knowledge passed down through generations. This can lead to a concentration of expertise and influence within certain families in specific sectors.

While fjölskyldufylgni can offer benefits like continuity, established networks, and deep industry knowledge, it can also present challenges. These may include a lack of diversity in leadership, potential for nepotism, and the pressure on younger generations to conform to familial expectations rather than pursuing their own aspirations. The extent to which fjölskyldufylgni is prevalent or viewed positively can vary over time and across different industries within Iceland.