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. 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.
5.
6. 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.
7. 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
8. • Aditya Birla Group
• Ford
• Mittal Steel
• Raymond
• Tata Group
• Toyota
