Equal or Equitable?

Scott Carr discusses equality and equitability in the family business setting

So the great old question of equal or equitable. In a perfect world, I guess, people are equitable. It’s the great example of a baseball game where you have different sized stools and each person is a different height, at the end of the day, you just want everybody to be able to watch the baseball game. Unfortunately in life and in business, it’s not as clear cut as who can see the baseball game. Equality is something that is different to each person, which I think is what makes it so hard to determine what that equality is, or equitability, sorry, so yeah equitability changes from person to person, what they find equitable, versus equal is you’re just giving them all the same thing. I do believe equitability is the way to go, it’s about figuring out how to give equitability is the hard part and that’s really the challenge, in not only family’s but in business.