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How to Build Long Lasting Family Businesses Presentation to the Indian Heritage Hotels Association Professor K Ramachandran Thomas Schmidheiny Chair Professor of Family Business & Wealth Management Indian School of Business, Hyderabad
Flow Chart to solve Family/Company Problems THINGS ARE WORKING WELL? NO YES DON’T TOUCH IT HAVE TOUCHED IT? YES IDIOT NO SOMEONE KNOWS? IS IT GOING TO EXPLODE IN YOUR HANDS? YOU ARE LOST YES YES CAN YOU BLAME SOMEBODY ELSE ? NO NO NO PRETEND YOU HAVEN”T SEEN IT HIDE IT YES SO, THERE IS NO PROBLEM
Road to Hell Dilemmas Deviation Disputes Destruction
Family Business Transformation: Cushioning model Ownership Corporate governance (Board of Directors) Family governance (Family Council) Management Family Management systems and processes Mentor Pool