Srinath Sridharan, a corporate advisor and author of 'Family and Dhanda', joins Falguni Shah, Partner at PwC, specializing in family business dynamics. They discuss the pressing need for formal succession planning in Indian family businesses as generational transitions approach. Insights into emotional dynamics and legal challenges are shared, along with the significance of family constitutions. They explore the evolving landscape influenced by private equity and changing cultural attitudes, highlighting the importance of governance structures and gender inclusion in leadership roles.
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question_answer ANECDOTE
Forced Succession Sparks Change
Venkateswaran Dorey Sami was forced into the family textile business after his father's sudden death.
He and his brother now run their own company with formal succession rules and a family constitution.
insights INSIGHT
Formal Succession Gains Ground
Small family businesses across India are increasingly formalizing succession planning and governance.
This shift is driven by investor demands, growth complexities, and the need to avoid disputes.
volunteer_activism ADVICE
Prioritize Succession for Investors
Families must establish clear roles, responsibilities, and governance before inviting external investors.
Succession plans ensure transparency and business continuity required by private equity and public markets.
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Succession planning, intergenerational transition and governance
Srinath Sridharan
Family and Dhanda focuses on the critical aspects of succession planning, intergenerational transitions, and effective governance within family-owned businesses. The book examines how families navigate leadership changes, manage conflicts, and establish structures that support long-term stability and growth. It likely addresses the unique challenges and opportunities faced by family businesses, offering insights and strategies to ensure smooth transitions between generations. The author probably highlights the importance of communication, clear roles, and robust governance frameworks in maintaining family harmony and business success. Furthermore, it serves as a practical guide for families seeking to preserve their legacy while adapting to modern business demands.
For decades, Indian family businesses have operated on trust, tradition, and unwritten rules. But as generational transitions approach, and as businesses scale or seek external capital, these legacy structures are coming under pressure. Succession in Indian family businesses is no longer a backroom conversation, it's becoming a strategic imperative. And as new voices emerge in old rooms, the question is no longer if the change will come, but how prepared families are to manage it. Host Dia Rekhi talks to Falguni Shah, Partner at PwC and Srinath Sridharan, corporate advisor and author of Family and Dhanda about this shift. Why are more families writing constitutions? What role do generational gaps, investor pressure, and changing cultural attitudes play? And are these isolated cases or the early signs of a broader transformation? Tune in.
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