Family business
A collection of our latest insights on the challenges, opportunities and solutions that matter most for family businesses.
What Issues For The Family Does Its Family Constitution Remove?
This is one of the most common questions asked by a family businesses entering their third generation in the next 3-5 years. They said we struggle to understand what precisely will get solved if we take on this vital long-term task for our family. By this question, they do not mean benefits which is an
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
What ensures that a family’s timeless wants are met?
Usually, family businesses with lasting legacies have these 3 timeless wants: For these wants to become a reality, it is considered that institutionalized approach provides greater chances of success to build a lasting legacy. If institutionalisation of family holds a tall order to deliver eternity of success, harmony, abundance and meaning, then the only hope
Your approach of constitution-making determines its success or failure
Recently, we have come across many family businesses who have a constitution and yet, they find it completely worthless as it is nothing more that a book on the table. This isn’t a new problem. In fact, many family businesses have burnt their hands by making their constitution without the understanding of what approach will
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
Developing consciousness for Institutionalisation of Family Business
Building a constitutional system is the first step Family-owned businesses have a powerhouse of family behind them. A family creates an endless legacy perpetuating prosperity, community welfare, love, and harmony. Legacy begins with the first generation. The family must begin institutionalisation to grow beyond the 3rd, 7th and 20th generation. The first step for this
Your legacy is in your hands.
Worrying about your children is what everyone does. Worrying about the unborn generations of children is only special to the family businesses. We have been privileged to witness and feel this type of worry by families running their family enterprise worldwide as – The worry of power. The worry for power deeply impacts family businesses’
Why Family Business Become Victim of the Power Struggle in Family?
Have you seen family businesses with power imbalance? Have you come across how it is to live and feel in one of such family business? Do you believe your family business is not facing any power imbalance? If it is having the power imbalance, then what kind of suppressed feelings and forces in individuals do
A family constitution on paper is less important than the process of making it. Why?
Multigenerational Indian family businesses are uniquely placed. They are different. They have enjoyed great success in their first two generations. This gives many of them a feeling that ‘what has worked thus far in managing family and business will work in the future as well, giving the same strength-to-strength in future’. They can’t be blamed.