Continuity of Family Business Across Generations

Other
Bhatnagar, Navneet., Ramachandran, Kavil. "Continuity of Family Business Across Generations", Hyderabad, India, ISB insight, 2015
Abstract:
Maintaining continuity across generations has been a prime objective of family businesses. This article identifies and explains five key factors that contribute towards achieving the continuity objective. Overcoming leadership challenges, building teams and 'letting go' of control, managing owners' expectations and growth, planning for succession and grooming the next generation members, and sustaining familiness constituted the essential elements for family business continuity. The paper concludes that responsible ownership is key to long term sustenance of family businesses.