Family Business(Pratik Negi)

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  • hi you can contact me on my mail Id - pratik.negi@yahoo.com
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    I am Modester by name good day. i just went to your profile this time true this site (www.slideshare.net) and i got your detail and your explanation in fact the way you explain your self shows me that you are innocent and maturity and also understand person i decided to have a contact with you so that we can explain to our self each other because God great everyone to make a friend with each other and from that we know that we are from thism planet God great for us ok my dear please try and reach me through my email address (modester4life4@yahoo.com) so that i can send you my picture true your reply we can know each other ok have a nice day and God bless you yours Modester
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Family Business(Pratik Negi)

  1. 1. By: Pratik Negi Shalini Kaushal
  2. 2. <ul><ul><ul><li>Share capital owned by a family either </li></ul></ul></ul><ul><ul><ul><li>jointly or individually. </li></ul></ul></ul><ul><ul><ul><li>Involvement in decision-making, maintain </li></ul></ul></ul><ul><ul><ul><li>management or ownership. </li></ul></ul></ul><ul><ul><ul><li>Ownership control by direct descendants </li></ul></ul></ul>
  3. 3. <ul><ul><li>Long-term orientation and continuity </li></ul></ul><ul><ul><li>Family culture pride for family </li></ul></ul><ul><ul><li>Less bureaucratic </li></ul></ul><ul><ul><li>Greater willingness to weather the bad times by ploughing back profits. </li></ul></ul><ul><ul><li>Impart training to younger members </li></ul></ul>
  4. 4. <ul><ul><li>Role of members not clearly defined. </li></ul></ul><ul><ul><li>The style may be autocratic or patriarchal. </li></ul></ul><ul><ul><li>Members may not be worthy of their position. </li></ul></ul><ul><ul><li>Succession battle. </li></ul></ul><ul><ul><li>Selfish motives to drain the money from the company. </li></ul></ul>
  5. 5. <ul><li>Founder </li></ul><ul><li>Next Generation </li></ul><ul><li>Family members </li></ul><ul><li>Non family members </li></ul>
  6. 6. <ul><li>Head of the family </li></ul><ul><li>Determines the nature and direction of the family enterprise </li></ul><ul><li>Starting the business and Builds the organization </li></ul><ul><li>Provide guidance and direction to employees and family members </li></ul><ul><li>Planning for succession </li></ul>
  7. 7. <ul><li>Demanding and challenging than that of start-up </li></ul><ul><li>Address the faults and imperfections. </li></ul><ul><li>They will be unable to start from scratch </li></ul><ul><li>Already established systems and so difficult to justify changes and justify failures </li></ul><ul><li>Fear of failure may panic into making sub- optimal decisions. </li></ul>
  8. 8. <ul><ul><li>Ground rules regarding entry </li></ul></ul><ul><ul><li>Members be encouraged to join the family Business </li></ul></ul><ul><ul><li>Encourage the younger generation to develop skills and educations </li></ul></ul><ul><ul><li>Different family members different levels of involvement. </li></ul></ul><ul><ul><li>Develop internship program for family members to judge if they are out from family business. </li></ul></ul><ul><ul><li>consider the role and rights of those family members who are not at all involved in the family business. </li></ul></ul>
  9. 9. <ul><li>Difference in pay </li></ul><ul><li>Promotions and salary hikes </li></ul><ul><li>Maintain good chemistry with owning family </li></ul><ul><li>Senior positions easy path </li></ul><ul><li>Difficult to retain in top management </li></ul>
  10. 10. <ul><li>Discuss career paths in the company and clearly state if top positions are not open for them. </li></ul><ul><li>Offer compensation and benefits that are at par with others in the industry. </li></ul><ul><li>Involve non-family managers in top-level decision making </li></ul><ul><li>Set targets and use performance measures to build motivation. </li></ul><ul><li>Emphasize the contribution of non-family managers in company meetings. </li></ul><ul><li>Treat family members like employees at work. </li></ul><ul><li>Involve non-family managers in succession planning </li></ul>
  11. 11. <ul><li>Thank You!!! </li></ul>

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