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.
K. Jayshankar (Jay) is the Founder of Empowered Learning (www.empoweredindia.com).
A Certified Management Consultant (CMC), he has been a trusted advisor and coach to family businesses executing assignments across the globe, apart from all parts of India. Apart from the private sector (including mentoring women entrepreneurs), his assignments have also extended to the government sector (Police, etc.), coaching officials of the United Nations and the international NGO, Greenpeace.
He has also been a faculty member at various business schools and his articles have featured in many publications in India & overseas, including a book published by Pfeiffer.
Amongst other notable achievements, he organized and facilitated India’s first Corporate Leadership expedition, ‘Reach for the Sky’, when a group of business executives summitted Kilimanjaro on August 15, 2007.