Fwd: Happy Diwali and a tribute to Family Businesses

[harin sheth]

Hi friends just sharing a email from Dr Parimal Merchant,  whose the pioneer in family managed business, teachings 

---------- Forwarded message ---------
From: Parimal Merchant <merch...@gmail.com>
Date: Mon 5 Nov, 2018, 7:11 PM
Subject: Happy Diwali and a tribute to Family Businesses
To: <harin...@gmail.com>

Dear Mr. Harin Sheth

Happy Diwali

This Diwali delighted to share with you some insights from my latest article in ET online on managing family dynamics.

https://economictimes.indiatimes.com/familybusinessforum/insights/ten-critical-factors-for-effective-succession-planning/familybusinessforum_show/66474769.cms

The quick summary

1.       The Indian context : Culture and developing economy

2.       The SME context

3.       It is business, but also it is family

4.       Succession may be an event, but induction is a process

5.       Start young – groom family pride and dream

6.       Groom both genders

7.       Focus on quality of relations

8.       Learn to manage tensions

9.       Learn basics of family-life cycle, diversity

10.   Have effective family processes.

 

A joint commitment to retain family bonding and continuing family legacy will ensure enough strength to withstand eventual storms in family as well as business situations and both family as well as business will succeed in living a long life.

 

Wish you a long and happy family and business prosperity.