Business Family Posts

What makes a CXO succeed in a family-run firm?

A newly hired CXO came to me (I was Group CHRO in a family-run firm then) quite confused, frustrated, and upset because he couldn’t understand what was expected of him! Does it remind you of someone? My experience in hiring and onboarding professionals at the CXO level has been quite extensive. Many of these professionals […]

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Family Governance Influences People Practices in a Family Business

According to statistics from the Family Firm Institute, family companies generate 70% of annual global GDP and create 50–80 % of jobs in the majority of countries worldwide. It is futile to strive for platinum standard human resource management with silver standard family governance. Mahatma Gandhi had aptly said, “Be the change that you wish […]

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Six fundamentals for a business family to succeed

In my previous post, I shared with you the six fundamentals for small businesses to survive and scale up their business. Many of these small businesses are or aspire to be family enterprises. Let us now look at the family dimension. Forbes says ‘70 % of the family-owned businesses fail or are sold before they […]

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