Family Business: Issues that most often need to be addressed…..(Raju Swamy/ February 08, 2016)

Family Business: Issues that most often need to be addressed…..(Raju Swamy/ February 08, 2016) 

1. Stagnation, leading to Conflict
2. Absence of Accountability
3. Resistance to ‘Letting Go’ by the Older Generation
4. Absence of a Retirement Policy
5. Succession (Merit vs Seniority vs Equality vs ‘Right’ vs Nepotism)
6. Rewarding Performance
7. ‘Future’……Surprisingly, few Family Businesses genuinely, and professionally, show concern for mapping a ‘Future’
8. Absence of unambiguous Formal Workable Organization Structure
9. Listing of Values and Beliefs and Commitment to them not serious and firm
10. Understanding of ‘Stake’ in Success or Failure
11. Communication (Informal/ Incomplete/ Not Transparent)
12. Absence of Formal Business & Performance Reviews
13. Ambiguous Business Leadership
14. Ambiguous Family Leadership
15. Not understanding Branding, and the Power of Leveraging ‘Unity’.

Raju Swamy                                       
Founder
& Advisor to Family Business
PROMAG Consultancy Services

Apt. 206 Brigade Rathna
42 Ranga Rao Road
Shankarapuram
Bangalore – 560004 INDIA
Tel. +91-80-26676298/ Cell: 9845271498
Email:
rajupromag@hotmail.com
www.promagconsult.in
www.familybusinessadvice.wordpress.com   (Blogsite)
Strengthening Family Dynamics for Family Business Growth…….since 1985

 

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