Indian Family Businesses forms the ‘backbone’ of the Indian economy and hence there is a need to extend the life span of the family businesses so that the economy can continue to derive benefit from their contribution.
- How should business families cope with the generation gap?
- How should they fulfill the aspirations of the members of the business family while achieving sustainable profits and growth?
- How can they keep the family and the business together?
The answer is Family Business Network.
CII along with FBN International has formed CII-FBN India Chapter with an aim of creating a nationally representative body of members of families owning & managing family owned business in India.
Family Business contributes 60 to 70 percent of GDP of most developed & developing countries. India is no exception. Most of the Business families face unique management challenges because of the differences in the attitude & aspirations of family members.
As new generations join the family business, it is an enormous challenge to keep the family & business together. Some sacrifice the business to keep the families together, while others sacrifice the family to keep the business.
It has been observed that:
- Just 13 percent of the Family business survive till third generation & only 4 percent go beyond third generation
- One third of business families disintegrate because of generational conflict. However, the close-knit structure of families, which fosters teamwork combined with respect to family values and family elders, has been the key to success of many family businesses.
CII-FBN India Chapter Over the Years
- International Annual Convention on Family Business with Indian & Overseas cases, conducted by Prof John Ward with other faculty from overseas/India.
- Research/survey on Family Business Issues amongst CII Membership.
- Regional Network strengthened.
- Sensitization Meets in several centers.
- Publications – Cases, Articles and now Newsletter.
- CII linking up with FBN – International as our strategic partners.
Objectives of the CII-FBN India Chapter
- To help & support families in business to be successful, motivate to maintain the sustainability of the business.
- To stimulate communication between owners, families, and organisations involved with family business systems.
- To help business families meet challenges on a regional, national and international level.
- To share best practices, Increase knowledge and understanding of unique family businesses issues.
- To access meaningful information about family business though associations, meetings, conferences and peer networks.
- To establish/maintain contacts with other information providers, including academics and advisors.
The CII-FBN India Chapter's Vision
- Keeping the Indian Business Families together.
- Non Solicitation - CII is not a place to sell products or services to other members. CII is a forum to learn from the exchange of ideas, experiences and information.
CII Stepping in...
- Families in business need a shared vision, a collective purpose, and a spirit of collaboration and cooperation, where keeping the Family together, and preserving the continuity of the Business, takes precedence over individual benefit.
- Therefore, CII’s objective was to create awareness and disseminate information on issues concerning Family Businesses amongst CII membership.
- The formation of the FBN chapter in India is with the aim of creating a nationally representative body, which will carry out the mission of FBN in India on behalf of family companies who join as members.
Deputy Director General CII & Executive Director CII FBN India Chapter
Confederation of Indian Industry
- India Habitat Centre - The Mantosh Sondi Centre 23, Institutional Area Lodi Road
New Delhi - 110003
- Email : firstname.lastname@example.org