House of the Dragon and families fighting for power – it can happen in business too

While most agree that HBO’s hit fantasy show House of the Dragon (HotD) might be an interesting dive into the chaos of the Middle Ages, less has been said about its lessons for the contemporary business world.

Though modern laws make sibling rivalries much more civilised (siblings don’t usually kill each other, nor do they have dragons), there are still many similarities between throne-claiming and today’s family battles over business leadership – especially when multiple siblings are involved.

As a lecturer in entrepreneurship and strategy, I use the show – a prequel to Game of Thrones that sees siblings fighting to inherit their father’s throne – to illustrate the complications in family business succession.

When succession of leadership in a business becomes an issue, it is important for the family to be clear about their direction. Important, and often difficult, conversations around which legacy, as well as the methods to achieve it, need to be agreed by all family members.

The issue of succession is known to contribute to tension in famous family businesses, as seen with the Murdoch family. As one of the most prevalent forms of business worldwide, family businesses could certainly try to avoid conflict – and, in HotD’s case, a kingdom dispute – if successions were handled more carefully.

In the show, King Viserys I Targaryen, played by Paddy Considine, is not a bad ruler, but when it came to succession planning there was so much more he could have done. By the time he had announced his daughter Rhaenyra (played by Emma D'Arcy) as heir, it was perceived that this decision was taken out of desperation, due to there being no male heir.

Family business leaders typically have a stronger sense of ownership of the firm than non-family employees, which sometimes leads them to keep hold of leadership. While this is human nature, it is important for family business leaders, like kings are to their kingdoms, to remember their responsibility to the businesses’ prosperity and stability and to have a clear Plan B.

The accession of an heir in a family business often sparks wide discussions, like in the case of Alexandre Arnault of luxury goods conglomerate LVMH. He was recently appointed at just 32 years old as deputy CEO of the group’s wines and spirits business Moët Hennessy. In the case of the heir Rhaenyra in HotD, her half-brother challenged her legitimacy to the throne, with strong support from stakeholders, (that is to say, the lords in the show) who believed that a son would make a more legitimate heir.

In a family business, successors often need to legitimise their position and get the senior managers (like the lords in HotD), employees, and other stakeholders like customers (the “smallfolk” in the show), to accept the transition.

While there are different stages of succession, research has shown that it extends far beyond the business arena to affect the lives of family members, with conflict spilling into other areas.

In a family where everyone gets on, a succession can bind the next generations together – to the point where they might even quit jobs with other companies to carry on the family dream. But HotD portrays a dysfunctional family and intense sibling rivalry, as is also the case in another TV show, Succession.

In HotD, the king’s first son Aegon (played by Tom Glynn-Carney) was groomed to be fearful and even hateful of his half-sister Rhaenyra and her children. The dysfunctional family life went on to haunt the children when succession discussions arose.

The Targaryen family in HotD was divided by goals – with Viserys’ and Rheanyra’s side aiming to continue the Targaryen reign, and the king’s second wife Alicent (played by Olivia Cooke) and Aegon’s side trying to maintain primogeniture (where succession goes to the first-born child) and purity in the bloodline. Competing goals are often paradoxical and can be unsettling for stakeholders in family businesses.

The role of women

In the show, there are instances where the roles and desires of female characters are marginalised. The role of women in family businesses has also traditionally been overlooked.

But female family business members are often more important than their titles in the business suggest, where their role in the family in maintaining traditions, values and harmony are sometimes more central.

HotD demonstrates how the sometimes quieter female voices can influence the succession through the use of a variety of strong female characters. This is a helpful resource to illustrate how females might influence strategic decisions in family businesses.

Women’s influence in the family and its business can sometimes go unrecognised. This could be particularly tricky in situations where multiple siblings (and even wives) are in competition, like the Majid Al Futtaim (MAF) retail and leisure empire, where ten family members had claims on the estate.

Sibling rivalries and the challenge of female legitimacy in family business succession take centre-stage in HotD. The complex dynamics between heirs vying for power and the struggles faced by women in leadership roles echo the real-world tensions that often unfold in family-owned businesses.

Viewers may be immersed in the sweeping political dramas of Westeros, but at the same time the series offers important contemporary lessons in managing family legacies, power struggles and succession planning.

Bingbing Ge does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.