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.
It has been observed that:
- Just 13 percent of the Family business survive till third generation & only 4 percent go beyond third generation
- One third of business families disintegrate because of generational conflict. However, the close-knit structure of families, which fosters teamwork combined with respect to family values and family elders, has been the key to success of many family businesses.
CII-FBN India Chapter Over the Years
- International Annual Convention on Family Business with Indian & Overseas cases, conducted by Prof John Ward with other faculty from overseas/India.
- Research/survey on Family Business Issues amongst CII Membership.
- Regional Network strengthened.
- Sensitization Meets in several centers.
- Publications – Cases, Articles and now Newsletter.
- CII linking up with FBN – International as our strategic partners.