Flagship Research Quarterly of the Indian School of Business (ISB). Find out more

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Past Issue • Apr-Jun 2015

Continuity of Family Business Across Generations

Less than 30 percent of family businesses survive into the third generation of family ownership. Family businesses can go under for many reasons, including family conflicts over money, nepotism leading to poor management, and infighting over the succession of power from one generation to the next. Executive Director of Thomas Schmidheiny Centre for Family Enterprise at ISB, Professor Kavil Ramachandran and Research Associate at the Centre, Navneet Bhatnagar, identify the keys which enable a professional management and keep the family committed to and capable of carrying on as the owner. Creating family businesses that last multiple generations has always been a challenge. Given that family controlled businesses constitute a significant part of businesses, particularly in Asian countries, the need to find mechanisms to facilitate their survival and growth is always important. Unfortunately, awareness about such mechanisms is limited, let alone the capabilities and resources required to implement any such strategies. It is in this context that we should look at the relevance and magnitude of the impact of the series of family business conferences, the Indian School of Business has been organising over the years. The Thomas Schmidheiny Centre for Family Enterprise that has organised the conference ensured that the message of the conference was shared and discussed across academic and business communities.

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