The 10 Commandments for Family Business

Books and Monographs
Ramachandran, Kavil. "The 10 Commandments for Family Business", Hyderabad, India, Sage Publications, 2015
Abstract:
The purpose of the book is to discuss all the critical challenges family businesses face and understand the phenomenon of family business better. It also analyses the reasons for the complex situation they are in, and approaches to addressing them that will enable them to create wealth, material and emotional, for themselves and the society at large. The 10 Commandments discussed in the book are : • Commandment One – To Communicate and Build Trust • Commandment Two - To Professionalize your Business or Perish • Commandment Three – To Preserve and Practice Values • Commandment Four - To Manage Ownership Challenges • Commandment Five – To Redefine Role but Never Retire! • Commandment Six – To Successfully Manage Succession in Business • Commandment Seven – To Build Businesses Entrepreneurially • Commandment Eight - To Develop Long Term Business Strategy • Commandment Nine – To Give Back – Family Philanthropy • Commandment Ten - To Understand ‘Togetherness’ – Role of Consultative and Compassionate Leadership