Family business

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Family business

  1. 1. DHIRAJ KUMAR PGDM MARKETING & HR ACCMAN INSTITUTE OF MANAGEMENT
  2. 2. A family business is a business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business’ overall well-being. Some of the world's largest family-run-businesses are Wal-Mart (United States), Samsung Group (Korea) and Tata Group (India).
  3. 3. CHARACTERISTICS OF FAMILY BUSINESS  Family business are ideal in nature as they are loyal to the principles of the founder and thus ensure uniformity in their operations.  Succession is one important decision which determines future effectiveness in terms of company operation.  family business comprises of family members in business operations ensuring effective utilization of in house talent in family.  Single minded dedication of family members ensures survival of family business through toughest times.
  4. 4. Nine out of 10 businesses in the United States are family- owned, and family businesses account for half the country’s gross national product. Family businesses are the lifeline of India’s economy. Almost 90% of Indian businesses are family-owned, which makes the rest of the business community largely dependent on them.
  5. 5. Run your family business like business Create a succession plan Don’t play favorites Separate business and family expenses Don’t guarantee employment Learn to resolve conflict
  6. 6. • Aditya Birla Group • Ford • Mittal Steel • Raymond • Tata Group • Toyota
  7. 7. Contact - dhiraj166@gmail.com

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