Overview

What is common between Walmart, Reliance, Toyota, Samsung, Ikea, WIPRO? They are all Family Businesses. Many of the world's biggest businesses are owned by families, and many have thrived over decades, generating employment, and contributing immensely to their country's GDP. What makes some family businesses grow from strength to strength? How do you ensure that value is created and not destroyed when a business passes hands from one generation to the next in the Indian context? How can old families incorporate new ideas to revitalize themselves? Is there a role for professional management in Indian family business? This book offers answers to the vexatious issues that families face in their growth journey. The pointers provided can be used as a guide for nurturing the business and to leverage the traditional strengths that family businesses possess. The pitfalls that can derail a business are well illustrated to serve a cautionary lesson against value destruction of family wealth. The emerging role of women in family business is also highlighted. The book is replete with real examples to make the principles and practices come alive for a reader. This book will be a powerful guide to a family that intends to perpetuate its business and navigate a wise path to the future. As a counsellor and trusted advisor, the author has had a ring-side view of how family businesses have functioned. The practical insights drawn from his experience of four decades has been combined with conceptual elements to become a valuable primer for a family that wishes to succeed in the competitive marketplace that is India.

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