· Difficulty in the managing a family business occurs when there is clash between family values (harmony, emotional, inward, continuity) and business values (profits, rational, outward, adapt, change)
· Managing transformation is not easy...
Power and politics in a business
It is important
to evaluate and understand the structure of the family business and how was it
developed. How is the relationship shared between various owners, what is the
history of the business, how it evolved over period. It is critical to
understand...
Importance of constitution in a family business setting
The importance of family governance in today's age is extremely critical. I myself have seen families
drifting apart because of business conflict resulting due to poor set-up of
constitutional rules. I have seen families fighting over compensation,
ownership,...
Are you thinking to join your family business?
Traditionally in a small scale or a medium scale family business, the
family heir is expected to join the business soon after he sharpens his business acumen. He is often not expected to pursue any higher education as the 'on-ground' experience is...
Story of hope and optimism
Today I will share one of my favorite stories of hope and optimism. I am sure there are not many who have heard the name of Chris Gardener. What if I say he is same Chris Gardener of "Pursuit of Happiness" which was played by Will Smith. Now if you...
Start of a new life
In India your career starts with your decision on what subject you are taking after completing your secondary education. The decision is a tough nut as your whole career path is dependent upon one crucial decision. In most of the cases, the choice...
Building our business #together
This is a story that dates back to the good old college times. The times when I made some friends for life. The times when the whole life revolved around them. Our source of happiness was nothing but the feeling of togetherness generated during the...