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Strengths and Weaknesses of Family Business

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Information about Strengths and Weaknesses of Family Business
Business & Mgmt

Published on February 16, 2014

Author: SiddhantBhatia

Source: slideshare.net

Description

This presentation provides pointers on various elements which depict the strengths and weaknesses of a family business in India.
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infrastructure informal flexible entrepreneurial indecisive boundary problems lack of management resistant to change

roles multiple roles quick decision making role confusion unqualified members nepotism

leadership creative ambitious informal authority autocratic resistant to structures avoids letting go

involvement shared values commitment/loyalty strong sense of mission family matters mixed feuds/rivalry emotional decisions sharing the DREAM!

time long-term perspective patient capital deeper ties traditional bound decisions affected by history trust vs. early disappointments

succession early training mentoring a life-long process voluntary exit traditional bound decisions affected by history trust vs. early disappointments

ownership/governance closely held high degree of control earnings are motivators sacrifice growth for control often no outside BODs high premium on privacy

complexity adaptable common language efficient communications reactive founder's role stifles innovation high risk for conflicts

culture can foster creativity rich interplay of roles/goals must be managed to avoid confusion can be a drain of resources and energy

“Careers are not made in a family business, they are born.” Thanks! Siddhant Bhatia

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