High above the shimmering waters of Lake Lucerne in the Swiss Alps, at the Presidential Suite of the Burgenstock Resort, one of the world’s wealthiest families convened in early September 2020. Mukesh Ambani, India’s richest and most powerful private citizen, retreated with his wife, three grown children, and their partners for a family retreat to brainstorm long-term succession planning. Having gone through a difficult transition when Dhirubhai passed away without leaving a will in July 2002 they wanted to plan a smooth succession.
When he owns the most high-profile residence in the country why did he need to go outside for a family retreat?
A new and unfamiliar environment can stimulate creative thinking and innovation. It encourages participants to think outside the box and approach problems or challenges from different perspectives. Being in a different location can create a conducive atmosphere for self-discovery and learning. Retreat locations are chosen for their natural beauty and peaceful surroundings. This tranquil atmosphere can help reduce stress and make difficult conversations easier.
Moving to a different location provides a change of scenery and environment, which is refreshing and stimulating. It helps participants break away from their daily routines and mindset associated with their regular workplace and home.
Ajay Shriram, Chairman of DCM Shriram group, at a CII Family Business conclave, shared that he along with his brothers who manage the group take time out for an annual family business retreat to pause, reflect and review what is working well and what needs to be tweaked. This is a practice they have been doing annually for 20 years at a Himalayan retreat.
Family businesses considering a succession planning, teambuilding, or strategic planning off-site private retreat …… connect with us. We structure the agenda and share best practices of successful diversified multi-generation business families.
Family Business Advisor