The current global pandemic induced by Covid-19 has brought disruptions of unparallel magnitude in recent times. As the world reels through these unprecedented times, family businesses around the world are evolving rapidly to cater the new realities and are developing new ways to deal with the economic downturn. To address the issues of recent [...]
Family Businesses are the most prevalent form of business around the world & as well as the most complex system of organisation management. The three sub-systems namely family, business & owners make management of family business a multifarious task with internal pressures, external pulls, and friction at interfaces. This leads to members wearing multiple hats [...]
Family businesses are the most prevalent form of business around the world. Various studies conducted in the last few years indicate that family enterprises are more successful than their non-family counterparts. For instance, research in large, publicly-traded, family-controlled firms revealed that their long-term financial performance was higher across the board. Similarly, research by Credit Suisse [...]
Being born into any family, whether business or non-business one, is purely by accident. None of us has a choice in it. We cannot choose where we are born but we can always choose what path we take in our life. Here are few lessons for those born into a business family from Mr T [...]
During a workshop organised by the Special Interest Group (SIG) of MFAB, Indian School of Business (ISB), in Kolkata, a prominent family business owner was invited to speak on how he grew his business from 100 crores to 1000 crores. Siddhartha Churiwal, MFAB (Founding Batch Co’2014), and Director Churiwal Technopack Pvt Ltd, also sat in [...]
When Sirisha rejoined her family business, fresh with an MBA under her belt, she was mildly taken aback at the recruitment process. The inadequacies in it reflected in the premature departures of the recruits that failed to fit in the family ethos. The opportunity for improvement made her study the roles and their requirements closely. [...]
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