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Session on “Family Business”
Name of event: Session on “Family Business”
place,date : Visakhapatnam, 11.20.2016
Confederation of Indian Industry (CII) Visakhapatnam Zone organized a Session on “Family Business” at 1000 Hrs on 11th February 2016 in Hotel The Park, Visakhapatnam.
Indian Family Businesses forms the ‘backbone’ of the Indian economy and hence there is a need to extend the life span of the family businesses so that the economy can continue to derive benefit from their contribution.
•How should business families cope with the generation gap?
•How should they fulfill the aspirations of the members of the business family while achieving sustainable profits and growth?
•How can they keep the family and the business together?
Family Business contributes 60 to 70 percent of GDP of most developed & developing countries. India is no exception. Most of the Business families face unique management challenges because of the differences in the attitude & aspirations of family members. As new generations join the family business, it is an enormous challenge to keep the family & business together. Some sacrifice the business to keep the families together, while others sacrifice the family to keep the business.
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