http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/190 Fri, 15 May 2026 14:55:54 GMT 2026-05-15T14:55:54Z http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/73 Governance Practices in Family Enterprises: A Study of Selected Indian Family Enterprises Maiti, Sajalkumar; Majumder, Amit; Bera, Rampada The word (good) governance is a current buzzword not only in management literature but also in every walk of life. It implies how an organisation is directed and controlled under a set of mission, values, and philosophy (Cadbury, 1992). But unfortunately, over time, the common investors all over the globe have suffered a lot in the hands of the greedy managers and scams like Enron, Adelphia, Tyco, Worldcom, Xerox, Paramalt, and Satyam have shattered the trust in the very mechanism of corporate management and governance. However, despite a lot of initiatives had been taken around the world in the form of codes/laws for ensuring good governance for corporate sector, the issue of governance practices of family enterprises operating in India had not been discussed in detail. But, in view of the contribution of the family enterprises to Indian Economy over the years, a renewed interest on their governance mechanism is the need of the hour. Family businesses have many things going for them - they tend to be flexible,reliable, and proud, they can think long-term, have a strong culture and their people are committed. But they can also carry a daunting set of disadvantages - they can be rigid, inward-looking, and unresponsive to change and sometimes swamped by emotional issues. It’s a fascinating and complex mixture of advantages and disadvantages, costs and benefits, strengths and weaknesses. The larger a business-owning family becomes the more complex and diverse it becomes; and developing the skills required to forge a common agenda and resolve differences among family shareholders involves great challenges. Creating effective and transparent governance enables discussion and resolution of the complicated and often emotional family, ownership and business issues that confront mature family companies. Family members, therefore, need to devise strategies that help them to approach the business in a unified way, and they need to learn to communicate and share their thinking about the critical issues the family must face up to. Starting from Tata to Birla, Ambani, Goenka, Ruia, Mittal etc. Corporate India had a long heritage of domination of family governed firms. They contribute significantly towards economic growth of the country, employment generation, boosting up Gross Domestic Production as well as accumulation of foreign reserve through growth in export and also engaged into cross border Merger and Amalgamations. However, time and again the issues of governance and succession policy had perturbed the smooth sailings of these family dominated firms in India. Recent examples like clash between Ambani brothers, inheritance issues in Birla clan proved that case. In this backdrop the present study is a humble attempt to enquire the state of affairs of corporate governance in major family dominated firms in India. Family Enterprises Wed, 18 Feb 2015 00:00:00 GMT http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/73 2015-02-18T00:00:00Z http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/72 Generational Differences in Family Enterprises: A Need for Reverse Mentoring Sharma, Manoj K; Nagi, Muskan Family enterprises are defined as a special type of enterprises. The involvement of a family in the enterprise is what makes these enterprises unique. This paper reviews the literature on changing dimensions in family enterprises from independence to recent times. There is paradigm shift in Indian Business environment. Indian business environment till 1980’s was planned, regulated and controlled. Whenever a paradigm shift occur a new analytic framework changes the way a system operates. The policies of liberalization, privatization and globalization gave paradigm shift to Indian liberal business environment and this lead to new breed of entrepreneur who were well trained, qualified and much more educated. Many businesses in India could not flourish due to adamant strong beliefs of the old breed of entrepreneurship which were not in tune with new budding entrepreneur emerged out of a new business environment. This created the need for mentoring, coaching, guiding for the sustainable development of Indian family businesses because old generation did not have much to offer in the new business environment.This paper focuses on the paradigm shifts how the business operates in terms of the family system, political systems, information technology, human resource management, marketing needs and management education or professional degrees acquired by new entrants to family businesses. These are discussed along with their implications on family enterprises. The sustainability of the family businesses rests with the adoption and proper understanding of the changed business environment. Moreover young family members need to adopt and mentor their parents as per new environment. This raises the need for reverse mentoring as a tool for the sustainability and growth of family businesses, which has been elaborated in the paper with aid two case studies of family run enterprises. Family Enterprises Wed, 18 Feb 2015 00:00:00 GMT http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/72 2015-02-18T00:00:00Z http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/71 Development of Family Business Management: Cases of Japan and Uzbekistan Jasurbek, Turaev; Sanobar, Ismailova Today we cannot imagine development of world countries economies without family business. The family business has already become one of the most dominant and enduring forms of business organizations in the world. The objective of this article is to disclose the sense of the family business itself and the contemporary situation with it in Japan and Uzbekistan, in order to make clear picture of them and develop recommendations and suggestions for its further development focusing on how to manage the small family companies. At present, social-economic interrelationship between Japan and Uzbekistan is being developed in various sectors of countries’ economies. In near future this cooperation will lead to exchange the family business management experiences among them. Family Enterprises Wed, 18 Feb 2015 00:00:00 GMT http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/71 2015-02-18T00:00:00Z http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/70 Conflicts, its Mitigation and Resolution in a Family Business Joshi, Manoj; Shukla, Balvinder; Srivastava, Apoorva; Poddar, Meenal Family is emotions and business is about economics, both being in separable. It has to be the best combination of values, ethics, dedication and discrete potential offered by each family member. The case becomes challenging when the business transfers from generation to generation.Family businesses being fragile, the failure to adequately control conflict may contribute to the high mortality rate of family owned firms while it is said that roughly two-thirds of family-owned and family-controlled businesses do not survive the founder’s generation (Beckhard and Dyer, 1983; Dyer, 1986), with only 10 to 15 percent surviving to a third generation (Applegate 1994). The research is based on literature review on family business, conflict management, organisational issues, within family businesses. Content analysis on cases was carried on select family businesses.The results indicated that there was a mixed composition of “familiness”, the emotional and “business”, the economic component by most incumbent family businesses. The conflicts started from ownership, to power positions in organizational setup. Forces entries of sibling in the business with no competence besides the patriarchs’ distribution of business were of major concern.Hence, there is a dire need to professionalise. The study used an in depth analysis of published cases on the family business along with a detailed set of interviews to ascertain the management of conflict. Hence, future research may be expanded to multiple industry verticals and different geographies.Some Family businesses are not so successful as compared to others that are successful. Effective conflict management is the clear outcome of this imbroglio, which is explored and discussed in this research paper. Thereby clearly indicating, how conflict management integrated within the operational framework of the closely held family business is a must towards its growth.This paper has been built upon previous contributions on family businesses and conflict types and extended to focus on what are these conflicts and how are they being managed? Family Enterprises Wed, 18 Feb 2015 00:00:00 GMT http://dspace.ediindia.ac.in:8181/xmlui//handle/123456789/70 2015-02-18T00:00:00Z