Family Business In India

"Most of my clients are well educated, run good businesses with good potential, and are serious about improving the way they manage their business. As multi-generational multiple families, they have a basic desire to stay together and therefore seek my assistance. Since they are all experienced businessmen in a competitive world, and their time is precious, they are also clear that I must deliver value. And, to me, delivering value is to create a positive family business governance structure that also simultaneously improves business performance and results." 1. "According to Raju Swamy, a capable and committed next generation that aligns and multiplies the vision of the previous generation is the most important legacy a Family Business can have. His focus is on achieving continuous profitable growth through 'professionalism' in the management of family-owned businesses. Ultimately, this developmental strategy across generations can increase the longevity of the family business." Jayanti Meghjibhai Patel, Executive Chairman, Meghmani Organics Ltd., Ahmedabad, India 2. "With Raju's help and leaning on his three-plus decades of rich, ground-level learnings in this field, our family business was able to find the balance between the older generation and the new. It is his distinctive understanding in not only absorbing unconventional challenges that exist, but in also maneuvering a way through these challenges that matter to a Family Business leader." V.K. Surendra, Chairman, VST Group, Bangalore, India

This exciting Research Agenda expertly addresses the question: What will be important within the family business field and for family businesses in practice over the next decade? Top international contributors explore farsighted theories, methods and topics, often taking a multi-disciplinary approach in order to outline the potential routes for further advancing family business research. Chapters cover the significance of new family trends, entrepreneurial legacy, board diversity, spatial-familiness, corruption, innovation and digital business transformation, challenging core assumptions surrounding the family business phenomenon and mapping the future of the discipline.

Discusses the growth over the past 100 years--particularly in the past decade--of Indian enterprise. Using a multidisciplinary approach, the author shows that Indian business methods are unique in being based on tradition and predominantly owned or controlled by families. He explains how the largely Hindu business fraternity has remained in control, and argues that the family dominated Indian business community will flourish in the global marketplace due to the universal trend of networking and relational contracting. Annotation copyrighted by Book News, Inc., Portland, OR

Micro, small and medium enterprises (MSMEs) are integral to the economic policy framework of India, and promote innovation, competition and equitable economic development. Comprehensively examining the management of family businesses among MSMEs, this book: • discusses business strategy, corporate and personal values, vision, mission, stakeholder expectations, and strategic response to external factors along with their social and environmental orientation; • includes 22 case studies drawn from varied sectors such as pharmaceuticals, food processing, engineering, and blood banking; • documents rich experiences of Indian entrepreneurs and their unique entrepreneurial approaches towards management of social enterprises, loss-making firms in the public sector, corporate social responsibility, succession planning, and innovation. The book will prove essential to students and scholars of business, entrepreneurship and management, and entrepreneurs and managers working in MSMEs, especially young entrepreneurs as well as the general reader.

Family businesses are vital to the health of a nation’s economy, but distresses such as economic downturns and the Covid-19 pandemic can put them at grave existential risk. Drawing from her dynamic experience working with her family-owned company MPIL Steel Structures Ltd, Priyanka Gupta Zielinski presents a unique manual to help family businesses thrive, even in times of crisis. Central to it is a survival toolkit – featuring a metaphorical multipurpose hat, a flashlight, a superhero cape, a Swiss Army knife and a parachute – which prepares business owners to face any challenge head on. The book also reveals how the improvisational style of family enterprises can be leveraged better for sustainability, while identifying in their close-knit structure and community-driven approach avenues for meaningful social change. Replete with anecdotes and effective strategies – with an occasional Haryanvi idiom thrown into the mix – The Ultimate Family Business Survival Guide is a must-read for family business and MSME owners everywhere.

What, according to you, is a family business? What are its benefits? Why do a majority of family businesses fail? Can a family business be turned to your advantage? Set around the backdrop of an enterprise that has been around for over a hundred years - the Baidyanath Group, these questions, and many more, are answered in this book on what makes family businesses tick specially beyond the third generation. As any business passes through generations and each generation passes through these various stages of life - Brahmacharya, Grihastha, Vanaprastha and Sanyas - the transition is not just difficult, but also painful, both financially and emotionally. The resultant losses of this generational paradigm are not only monetary, but also familial. Do family businesses suffer from elder son syndrome, or is early division seen as taboo? When to plan succession and should one part with ownership? Surprisingly, the business behaves as per the behaviour of the generation that manages it. Given an identical situation, the decision would vary as per the generation taking the call. Life is all about the choices we make, our decision, if right, becomes a 'virtue' for the family and the business. If not right, it becomes a 'sin'. The book serves as a guide to what not to do by every member and every generation of a family. Identifying thirty actions which are the biggest sins that hinder the prosperity and continuity of any family business, Ajay Sharma, a third-generation businessman, weaves his own experiences with in-depth research and knowledge on the subject of family business. He believes that this book will be helpful to everyone - not just the stakeholders of family businesses, but also the millions who work with these family businesses, people who are the real lifeforce.

“Most of my clients are well educated, run good businesses with good potential, and are serious about improving the way they manage their business. As multi-generational multiple families, they have a basic desire to stay together and therefore seek my assistance. Since they are all experienced businessmen in a competitive world, and their time is precious, they are also clear that I must deliver value. And, to me, delivering value is to create a positive family business governance structure that also simultaneously improves business performance and results.” 1. "According to Raju Swamy, a capable and committed next generation that aligns and multiplies the vision of the previous generation is the most important legacy a Family Business can have. His focus is on achieving continuous profitable growth through ‘professionalism’ in the management of family-owned businesses. Ultimately, this developmental strategy across generations can increase the longevity of the family business." Jayanti Meghjibhai Patel, Executive Chairman, Meghmani Organics Ltd., Ahmedabad, India 2. "With Raju’s help and leaning on his three-plus decades of rich, ground-level learnings in this field, our family business was able to find the balance between the older generation and the new. It is his distinctive understanding in not only absorbing unconventional challenges that exist, but in also maneuvering a way through these challenges that matter to a Family Business leader." V.K. Surendra, Chairman, VST Group, Bangalore, India