Preventing family wars: How to avoid conflicts in family businesses

in newspaper articles, The Economic Times

Family businesses are captivating as their values are naturally woven in the company’s culture and they create a multigenerational legacy. However, at the same time, they are at risk to Family Wars that can engulf them. War is a strong word, but feelings run high enough in families to merit it as rightly pointed out in the book 'Family Wars: Stories and Insights from Family Business Feuds' by Grant Gordon and Nigel Nicholson. We have seen tragedies where a once legendary business empire disintegrated into small units. Hinduja Family Group, one of the world’s largest conglomerates, seems to be under...

22 June

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Induction of Next Generation in Family Business

Posted by BAF Consultants

in newspaper articles, The Economic Times

-TD Chandrasekhar, Partner, BAF Consultants & Simran Senani, Senior Consultant, BAF Consultants Introduction Growth and Perpetuation of family business depends on successful transition of the business to the next generation. Unsuccessful transitions often lead to the failure of both the business and the family. This article intends to focus on one of the reasons for this failure which is the inability of family businesses to induct the next generation in the business or because of the errors made in this process. Family Businesses Owners want their children to join the family business and usually do not even discover whether they are interested in joining...

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Preventing family wars: How to avoid conflicts in family businesses

Induction of Next Generation in Family Business