The current global pandemic induced by Covid-19 has brought disruptions of unparallel magnitude in recent times. As the world reels through these unprecedented times, family businesses around the world are evolving rapidly to cater the new realities and are developing new ways to deal with the economic downturn. To address the issues of recent extraordinary times and what resilience levers Family Businesses have to cope with it, former PGP MFAB students & current ISB Alumni joined the “The Family Business Saga” discussion.  Here is the summarised version of the session. Pandemi ..read more

Family Businesses are the most prevalent form of business around the world & as well as the most complex system of organisation management. The three sub-systems namely family, business & owners make management of family business a multifarious task with internal pressures, external pulls, and friction at interfaces. This leads to members wearing multiple hats at various times, which makes the decision-making a challenge. With a constantly changing business environment & growth, family businesses are a convoluted entity to manage. To achieve long-term sustenance & success, fami ..read more

Family businesses are the most prevalent form of business around the world. Various studies conducted in the last few years indicate that family enterprises are more successful than their non-family counterparts. For instance, research in large, publicly-traded, family-controlled firms revealed that their long-term financial performance was higher across the board. Similarly, research by Credit Suisse into data of 280 family companies worldwide showed that family businesses outstripped public companies in revenue growth a year – this during the global recession of 2011-12. In a discussion over ..read more

During a workshop organised by the Special Interest Group (SIG) of MFAB, Indian School of Business (ISB), in Kolkata, a prominent family business owner was invited to speak on how he grew his business from 100 crores to 1000 crores. Siddhartha Churiwal, MFAB (Founding Batch Co’2014), and Director Churiwal Technopack Pvt Ltd, also sat in the audience. At one point, the speaker talked about the reasons for his success, one of them being decision making. He referred to his dependence on his father for decision making even in the smallest of matters. Such dependence posed a challenge for him who s ..read more

When Sirisha rejoined her family business, fresh with an MBA under her belt, she was mildly taken aback at the recruitment process. The inadequacies in it reflected in the premature departures of the recruits that failed to fit in the family ethos. The opportunity for improvement made her study the roles and their requirements closely. After going through several podcasts and literature, she came up with parameter ratings and a process. What emerged was objective, scientific and more professional. ‘The way I have been hiring people has improved and I can say I have got some excellent candidate ..read more