Insights on Family Business
A collection of our latest insights on the challenges, opportunities and solutions that matter most for family businesses.
THE ONLY PIVOTAL REASON IS TO CREATE A SHARED CONSCIOUSNESS
The institutionalisation of the family is a major step of the century. This step will impact further centuries. This depends on the ideas, assumptions, and the motive it has been designed for. Many family businesses remain fixed on a point. When they speak to even the niche of the family advisors and experts, they alluded
How family-owned businesses continue to thrive for over 300 years?
Everybody knows and everybody feels that the world is turbulent. If you don’t feel that today, you haven’t been paying enough attention. You know that today’s environment isn’t what it was 10 years ago or, for that matter, even 5 years ago. The pace of life is accelerating and world has become foggy in addition
How does the constitution restrict freedom or unleashes it?
A typical question that reveals one major hesitation among multigenerational family businesses is their freedom. Some feel that having a family constitution restricts their lifestyle and access to wealth. Some feel that it may even affect their share of ownership, and uncertainty about it makes them freeze in their minds. Others feel that if a
A powerful enabler to the success of your business and your family
Eight years ago in mid-year 2014, the largest family business conference was held by Harvard Business School, Cambridge, Boston, in Asia. Most of our neighbouring countries’ biggest families and more than 85% of top Indian businesses gathered for a five-day family governance summit. The finest practitioners and lead authorities had come to deliver what they
Family Business Succession Challenge – Part 4
Thank you for all your pouring in trust and the valuable time you took to write your succession challenges and related silent killers. You have broadened our perspective, allowed us to serve our purpose, and given us pride in fulfilling our ode to our profession (Ode to our profession). We never thought we would receive several multigenerational
Family Business Succession Challenge – Part 3
We recommend that you read Part 1 & Part 2 of this article first, if it skipped your attention. To access the article, Family Business Succession Challenge (Part 1) Have you wondered what it takes to create a dream? Did you see any family business that lasts 16 generations and are having diverse individuals sitting
Ownership thinks in money and leadership thinks in time
Its rather funny and even grave when you notice that leading family businesses haven’t yet formally decided (and if decided then acted) on timely succession. Why so? Why family-owned businesses’ stewards or the current generation legal ownership and operating command do not begin formal succession until they reach age tipping point or ailments or a combination
So, what if it’s the epic opportune time for Indian family businesses?
Do we remain what we are or question what we are and make the necessary uncomfortable changes? There are talks about the Indian economy reaching a GDP of USD 30 trillion by 2050. There have been reports published in the public domain back in 2012 by Knight Frank and Citi Financial about the World Wealth by 2050.
A well planned and methodically created succession plan serves decades of happiness, growth and love in the family
Planning of succession writes a prophecy about the family’s fortunes and business. Planning for succession isn’t about a successor at all. Planning for succession is about the success definition first & foremost that the family believes they deserve and want to create for the coming generations. It is about the identity of the family they