Download or read book The Transition of an Indian Family Business from Second to Third Generation written by Arun Keshav and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Jay Group is a family business that comprises five different businesses: manufacturing and sales of gutkha (a form of chewing tobacco consisting of a mixture of tobacco, betel nut, and slaked lime), aerated beverages and fruit juices, packaged snacks and namkeens (a savory snack made from gram flour that is mostly deep-fried), manufacturing of laminated rolls and pouches used for packaging purposes, and the real estate business of building and renting commercial property. The family business is still evolving and also is making a transition from its second to third generation. The family is thus grappling with challenges and complexities associated with transformations at various levels. This case provides students with an opportunity to simulate the decision-making of a member of a real-world family business as it transitions into its third generation, highlighting the challenges of the generation gap, issues related to informal decision-making process, transitional challenges such as the dilemma of professionalizing the business versus keeping it within a close family group, polarization, and emerging leaders within the family and the group.
Download or read book Harvard Business Review Family Business Handbook written by Josh Baron and published by Harvard Business Press. This book was released on 2021-01-26 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Navigate the complex decisions and critical relationships necessary to create and sustain a healthy family business—and business family. Though "family business" may sound like it refers only to mom-and-pop shops, businesses owned by families are among the most significant and numerous in the world. But surprisingly few resources exist to help navigate the unique challenges you face when you share the executive suite, financial statements, and holidays. How do you make the right decisions, critical to the long-term survival of any business, with the added challenge of having to do so within the context of a family? The HBR Family Business Handbook brings you sophisticated guidance and practical advice from family business experts Josh Baron and Rob Lachenauer. Drawing on their decades-long experience working closely with a wide range of family businesses of all sizes around the world, the authors present proven methods and approaches for communicating effectively, managing conflict, building the right governance structures, and more. In the HBR Family Business Handbook you'll find: A new perspective on what makes family businesses succeed and fail A framework to help you make good decisions together Step-by-step guidance on managing change within your business family Key questions about wealth, unique to family businesses, that you can't afford to ignore Assessments to help you determine where you are—and where you want to go Stories of real companies, from Marchesi Antinori to Radio Flyer Chapter summaries you can use to reinforce what you've learned Keep this comprehensive guide with you to help you build, grow, and position your family business to thrive across generations. HBR Handbooks provide ambitious professionals with the frameworks, advice, and tools they need to excel in their careers. With step-by-step guidance, time-honed best practices, and real-life stories, each comprehensive volume helps you to stand out from the pack—whatever your role.
Download or read book Mehta Engineering written by Hitesh Shukla and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Manilal Mehta, an 84 years old businessman, faces a dilemma of dividing or selling the family business after investing 60 years in developing it. The fate of the business in at foreign land has adversely affected the situations at the indigenous plant. He woke up early in the morning, sitting on his bed and gazing at the sky from his open window. He was thinking what should he do? Apparently, he was in a dilemma. He loved both his sons and their families equally. Whenever thought of division of business and family came to his mind he was blank. In fact, when he looked at his grandchildren playing together, studying together, and then working together, he felt proud. Today, he avoided to respond to his daughter-in-law Madhavi as she demanded for the separation of both business and family. Madhavi's demand further intensified his dilemma. Manilal was wondering what if she asked him the same questions again. How could he justify his decisions so far?
Download or read book Application of a unique model to build up succession of family business in practice written by Niklas Kürten and published by GRIN Verlag. This book was released on 2007-11-08 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2006 in the subject Business economics - Company formation, Business Plans, grade: 1,7, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: Literature generally cites the low survival rate which family businesses face. Only 30 % of the companies further survive into the second generation, even only 15 % to 16 % into the third generation. Although many researchers see the most potential reason for this within the lack of adequate planning when company-owner hand over their businesses to offsprings or external managers , there exist various further reasons. In general, academics offer within their works a wide range of reasons, internal as well as external caused factors, which strongly influence the success of the succession within family businesses. Further, they developed several models and academic approaches to build up the process of succession and the mentioned different influences within holistic approaches of succession in family businesses to enable companies a successful handing over. Still, the situation in practice has not changed significantly since the current survival rate is steadily on a further low level. This could consequently reveal the hint of too little interaction between theory and practice respectively between academics and practitioners. Other branches showed the potential and the possible win-situations for both sides. Therefore, the research objective of this paper is to work out, to what extent a unique theoretical model is able to build up all relevant factors influencing the succession as an integrated process in theory to project this onto family businesses in practice and to provide solutions for succession within these companies.
Download or read book Inheriting the Mantle written by D. Sampath and published by Sage Publications Pvt Limited. This book was released on 2001-01-01 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work highlights the dilemmas faced by family organizations owing to conflicting cultures between the founders anchored in traditional value systems and the next generation, which is primarily schooled in western theories.
Download or read book Understanding the Family Business written by Keanon Alderson and published by Business Expert Press. This book was released on 2011 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to provide readers with an introductory overview of family business, the most prevalent form of business in the world. The differences between family and nonfamily businesses are emphasized in this book. There are several key audiences: As a supplemental text for university undergraduate or graduate level courses such as small business management, introduction to business, entrepreneurship, or family studies. Members of family businesses will benefit from the book as an introduction to the unique nature of family businesses. Professional advisors to family firms such as accountants, attorneys, bankers, insurance providers, and financial services professionals may develop a better understanding of their clients. Suppliers to family businesses will gain insight to this important business customer. Much of the literature on family business is from the United States; an attempt has been made to present relevant international information, as well. Chapter one defines a family business and provides an overview of family business. Chapter two explores the many differences between a family owned business and a nonfamily owned business. Chapter three explores the major family business theories. Chapter four discusses how family firms make business decisions. Chapter five explores the significant issues prevalent in a family firm. Chapter six explores the most problematic issue in family firms: succession or the transfer of ownership to the next generation. Chapter seven explores the many differences among the generations of a family firm. Chapter eight presents information on family business strategic planning. Chapter nine focuses on effective family business governance and use of advisors and boards. Chapter ten explores key success tips for long lasting family firms. Chapter eleven discusses trends in family business. Chapter twelve contains key points for family business professionals and suppliers who target or service family firms. Chapter thirteen presents areas for future research to advance the study of family business.
Download or read book The Landscape of Family Business written by Ritch L. Sorenson and published by Edward Elgar Publishing. This book was released on 2013-09-30 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: •The editors should be commended for developing a Map of the Landscape of Family Business Outcomes. It gives future research direction to the discipline considering both short-term profitability and long-term sustainability. It considers conventional c
Download or read book From Siblings to Cousins written by C. Aronoff and published by Springer. This book was released on 2016-04-30 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here Aronoff and Ward show siblings and cousins how to work together on key issues that are critical to the future success of the business including how to attract the most capable family members into leadership roles, how to develop agreement among many owners and how to create a "cousin collaboration".
Download or read book Transgenerational Entrepreneurship written by M. Nordqvist and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introducing a new concept in family businesses Transgenerational Entrepreneurship addresses how these businesses achieve growth and longevity through entrepreneurial activities. It focuses on the resources, capabilities and mindsets that families develop and draw upon in order to be entrepreneurial across generations, and presents findings from an international research collaboration between family business researchers and practitioners. In addition to a comprehensive conceptual chapter, the editors include a unique set of empirical case-based research papers that investigates transgenerational entrepreneurship in different European contexts. They bring together and integrate frontier research on entrepreneurship and family business, as well as provide a basis for future research. Academics, teachers and students in business and management, entrepreneurship and family business will find this path-breaking book of value, as will libraries, policy makers and consultants.
Download or read book The Family Business Map written by M. Bennedsen and published by Springer. This book was released on 2014-09-29 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining the expertise of two consultants and academics from East and West, this book provides an international guide for family businesses, showing how to identify and implement the best governance strategies. Packed with case studies and interviews, this is the ultimate guide for family businesses wanting to achieve long-term success.
Download or read book The Consolidators written by Paranjoy Guja Thakurta and published by Portfolio/Penguin. This book was released on 2017 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the stories of seven second-generation entrepreneurs in India who turned around the companies inherited from their fathers.
Download or read book Family Business in India written by Raju Swamy and published by Notion Press. This book was released on 2021-07-16 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: “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
Download or read book Go Perpetuate How to Beat the 3rd Generation Curse written by Hadi Cahyadi and published by Gramedia Pustaka Utama. This book was released on 2023-10-18 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every family business owner faces a succession as their biggest challenge. If you are one of them, you most likely have to deal with a bitter fact: a third-generation curse, which is well-known worldwide. The writer, who passionate about family business perpetuation, was intrigued by why several companies made it through generations and why other companies failed. As part of his doctorate study, he researched Indonesian large family businesses to study the phenomenon. Classic grounded theory methodology is applied to sampling twenty-seven respondents from four large conglomerate groups. The findings are that the foundersÕ main concern is perpetuating their family business and maintaining family leadership into second and third generations, which they seek to achieve by Parenting to Equip, Harmonizing to Prosper, and Collaborating to Endure. He then formulates a Theory on Intergenerational Perpetuation of Large Family Businesses¨, which comprise Nine Propositions, PHC Triangle¨, and Seven Stepping Stones of Intergenerational Perpetuation and Simple Algorithm for Perpetuating¨. This book is dedicated to all family business owners worldwide to prevent the myth from becoming reality.
Download or read book Your Business Your Family Your Legacy written by George A Isaac and published by . This book was released on 2020-10-23 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether you are an experienced family business or family office executive, board member, owner, or next-generation family member, George Isaac has written the definitive handbook on the challenges of managing a multi-generational family enterprise. His 5-star "Amazon's #1 New Release" rated book* discusses best practices for all of the key issues associated with family businesses. As a professional consultant, board member, speaker, and prior third-generation CEO, Isaac has been helping families start, build, transition, and maintain their enterprises for more than forty years. Using real-world experiential examples full of case studies, best practices, suggested operating policies, and implementation checklists, Isaac introduces - Seven essential initiatives for business survival and growth - Techniques to navigate family dynamics and prevent and manage conflict - Strategies for establishing effective family and business governance - A road map to forming and executing a workable (and living) succession plan - Practical approaches to multigenerational family and business wealth management - Training on understanding and analyzing financial statements for non-financially oriented family members. - Tips for preparing the next generation for success, in or outside of the family business. Avoid the pitfalls and traps that keep most family businesses from surviving past the current generation. Build a multigenerational family business legacy that lasts with this indispensable guide. *Amazon's "#1 New Release" Ratings recognized for: - Corporate Governance - Business Conflict Resolution & Mediation - Organizational Change - Strategy & Competition
Download or read book The SAGE Handbook of Family Business written by Leif Melin and published by SAGE. This book was released on 2013-11-15 with total page 697 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SAGE Handbook of Family Business captures the conceptual map and state-of-the-art thinking on family business - an area experiencing rapid global growth in research and education since the last three decades. Edited by the leading figures in family business studies, with contributions and editorial board support from the most prominent scholars in the field, this Handbook reflects on the development and current status of family enterprise research in terms of applied theories, methods, topics investigated, and perspectives on the field′s future. The SAGE Handbook of Family Business is divided into following six sections, allowing for ease of navigation while gaining a multi-dimensional perspective and understanding of the field. Part I: Theoretical perspectives in family business studies Part II: Major issues in family business studies Part III: Entrepreneurial and managerial aspects in family business studies Part IV: Behavioral and organizational aspects in family business studies Part V: Methods in use in family business studies Part VI: The future of the field of family business studies By including critical reflections and presenting possible alternative perspectives and theories, this Handbook contributes to the framing of future research on family enterprises around the world. It is an invaluable resource for current and future scholars interested in understanding the unique dynamics of family enterprises under the rubric of entrepreneurship, strategic management, organization theory, accounting, marketing or other related areas.
Download or read book Family Business Succession written by C. Aronoff and published by Springer. This book was released on 2017-06-30 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: Helps to prepare for passing the family business on to the next generation. Leaders will learn how to create a succession plan; how to develop opportunities for succession candidates; how to build consensus with the family and leaders on succession plans and finally leaders will learn when and how to let go of their own role in the business.
Download or read book When Family Businesses are Best written by R. Carlock and published by Springer. This book was released on 2010-10-14 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors explore how effective planning and communication helps business families around the world address growth challenges as they strive to become high performing multi-generation family enterprises. This book shows family businesses working together at their best.
