These are the biggest, most successful multi-generational family businesses in the country.

Ambani, Hinduja,  Godrej, Kirloskar, Muruggapa, Munjal, Wadia, Bajaj, Baba Kalyani, Finolex, Apolo Tyres, Cyril Shroff & Shardul Shroff, Singh brothers of Ranbaxy,  Singhania.

But what is also common to all of these? 

Internal family feuds have landed all of them in pitched battles with other family members in court. 

With 90% of listed companies in India being Family Businesses the disruption and value destruction arising out of internal family conflict is immense. 

So are conflicts in multi-generational family businesses inevitable?

No, they are not.

These conflicts did not develop overnight. There was simmering discontent below the surface for years if not decades and the root causes of conflict were not addressed in time resulting in the breakdown of relationships. Hairline cracks gradually developed into fractures which caused a breakdown in communication and ultimately a feud in court.

Proactively addressing family unity right from the time the second generation joins the family businesses is the only way of building a strong foundation of a multi-generational family business which goes on and on.

Based on my 12 years of experience with hundreds of family businesses, here are the 5 ground rules to building long-term unity – the soft rules & the hard rules:

1.Build a culture of Trust & Transparency
2.Align Values & Vision
3.Family Charter
4.Family Council Meetings
5.Off-Site Annual Family Retreats

More about how to create Family Charters & conduct off-site family retreats:

Family Business Program

Harsh Chopra 

Family Business Advisor
www.partners4growth.in