14 Strategy for Family Business

It is good to have an end to a journey forward, but it is the journey that matters in the end

—Earnest Hemingway

LEARNING OBJECTIVES
  • identify a family business (FB) from its characteristics vis-à-vis a non-family business
  • understand the importance and elements of succession planning for sustained growth of an FB
  • identify the importance of socioemotional wealth and governance structure suited to an FB
  • Assess the bundle of special resources a family business can leverage for success.
  • Appreciate the importance of control systems especially financial management systems in a family business for system performance.
IDEAS AT WORK 14.1
Strategy Show: Vicco Laboratories Business for the Family
Large section of Indian ...

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