Managing Family Business for Growth
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Over 70% of all firms worldwide are family owned or family managed firms. Owners and professionals associated to these firms face a unique challenge of continuing the business growth along with handling the decision making environment in the interface of family and business. This task requires a balance of professional acumen, functional knowledge and acceptable governance. This programme is customized for family business owners, managers, successors, next generations, family members, and key non-family managers, employees, and advisors. The objective of this programme is to build knowledge and understanding of general management, governance, entrepreneurship, ownership, functional expertise and family business. Through management principles, this program will also attempt to address contemporary issues, opportunities and challenges unique to family business through their growth and evolutionary phases.
- Familiarising participants with the nuances of Indian family business, entrepreneurship and identifying contemporary issues and challenges.
- Providing general management principles and relevant functional expertise with a specific focus on family business and entrepreneurship.
- Preparing organizations for setting up effective governance system, succession planning, and handling complex organizational dynamics involving senior management professionals, shareholders and family members.
- Strategic management in building and growing successful ventures and businesses with changing macroeconomic environment
- Organization structure and dynamics suitable for family owned businesses and entrepreneurs
- Management of creativity, innovation and identification of business opportunity
- Feasibility analysis and development of business plans with funding requirements
- Effective communication strategy for customer relationship, retention and stakeholder engagement
- Managing human resources including hiring, motivating, evaluating performances
- Managing cost and accounting information for managerial decision making
- Effective marketing, branding and distribution strategies for existing and new products
- Evaluating financial and non-financial organizational performances and stakeholder communication
- Leveraging legal and taxation polices for the benefit of existing and new businesses
- Understanding organisational and legal aspects of succession planning
- Developing supply chain strategies and operational decision-making framework suitable for changing business requirements.
Who should attend
Entrepreneurs and Family business owners (of multiple generations) and senior professionals working in family businesses aspiring to trigger next growth phase for the business. Also professionals who actively engage with family businesses for their services and solution, may also find the programme useful in familiarising themselves with the family business or entrepreneurial venture dynamics.