Does this mean that family-fortunes are being dragged over the edge?

IIPM PUBLICATION
Though less than 4% of family businesses in India have witnessed heartbeats beyond the third generation, yet it cannot be denied that they contribute to more than 60% of national GDP. So has the importance of family-run businesses in India fallen in signifi cance? Certainly not! However, what has received maximum attention of late are the melodramatic splits, which are as real as the studded success stories of men like Dhirubhai Ambani, and Jamshedji Tata. Family run businesses have had to undergo and survive not merely challenges incumbent in a liberalized industrial environment but also radical re-orientations in the oldest institution of civil society – the family – and many illustrious business families have been victims of this double-edged catastrophe. The Birlas, Modis, Sarabhais, Bangurs, Dalmias, Singhanias, Mafatlals, Shrirams, Thapars and Goenkas – pick any and you’d find glory (and fame) and turbulence (and shame) together!

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Source : IIPM Editorial, 2006

Dean of IIPM :- Pofessor Arindam Chaudhuri (Renowned Management Guru and Economist)

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