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Introducing:
Succeeding in Business: Nurturing Value in Family Business

Succeeding BusinessWhat is common between Walmart, Reliance, Toyota, Samsung, Ikea, WIPRO? They are all Family Businesses. Many of the world's biggest businesses are owned by families, and many have thrived over decades, generating employment, and contributing immensely to their country's GDP.

What makes some family businesses grow from strength to strength? How do you ensure that value is created and not destroyed when a business passes hands from one generation to the next in the Indian context? How can old families incorporate new ideas to revitalize themselves? Is there a role for professional management in Indian family business?

This book offers answers to the vexatious issues that families face in their growth journey. The pointers provided can be used as a guide for nurturing the business and to leverage the traditional strengths that family businesses possess. The pitfalls that can derail a business are well illustrated to serve a cautionary lesson against value destruction of family wealth. The emerging role of women in family business is also highlighted. The book is replete with real examples to make the principles and practices come alive for a reader. This book will be a powerful guide to a family that intends to perpetuate its business and navigate a wise path to the future.

As a counsellor and trusted advisor, the author, K. Jayshankar, has had a ring-side view of how family businesses have functioned. The practical insights drawn from his experience of four decades has been combined with conceptual elements to become a valuable primer for a family that wishes to succeed in the competitive marketplace that is India.

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Early praises for the book:

"Jay has given family companies a gift. He explains how they work (or don't work) and provides very practical advice for growing value over generations. Keep this book open on your desk."

- John A. Davis, PhD
Faculty Director, Family Enterprise Executive Programs
MIT Sloan School of Management

"Jay has brought together the impressions and insights accumulated over many years of close interactions with several family businesses and entrepreneurs. Going beyond the conventional tools and solutions, Jay shares his perspectives on building lasting family businesses; that's also the unique contribution of the book."

- Kavil Ramachandran, PhD
Executive Director, Thomas Schmidheiny Centre for Family Enterprise,
Indian School of Business

"The leadership challenge in a Family business is unique. As a founder you devote yourself completely to the creation process and there comes a time when you need to relinquish it to others. Sadly, you sometimes find that the family legacy is destroyed because you placed your business in the wrong hands and family conflicts arise. Over the years in different capacities as a public official and as a Corporate Board member I have witnessed many such situations.

The inability of senior managers (and even Board members) to speak the unvarnished truth to the owner has destroyed long-standing companies and brought them to their knees. Likewise, when a spoilt scion gets the reins of the family business and surrounds himself with wrong advisors who flatter and pander to him, you can be sure that the death knell for the business has begun to ring.

To all business leaders and entrepreneurs, I would now recommend Jay's book, 'Succeeding in Business,' as the ideas presented go beyond family business. Given his wide international experience, in his unique way, Jay has explained in detail both the pitfalls and the preventive steps needed to design success in a business rather than let it meander its own course.

Read it, learn from it and apply it for your benefit! "

- D. Sivanandhan, IPS
Independent Director and Former Director General of Police, Maharashtra

"The book presents an inside look at the functioning of family businesses. By demystifying the reasons for the success and failures, Jay has highlighted the entrepreneurial role that family business plays in an economy. Of special interest would be the chapter on the emergence of the female protagonist as women are increasingly becoming central to a family enterprise in today's India. An easy & practical read, the book offers both conceptual ideas and real-life practices.

I would recommend this book to all those who are keen to build their business in a holistic and purposeful manner with an eye on long-term value creation."

- Rajesh Mirchandani
Chief Executive Officer,
Dun & Bradstreet South Asia Middle East

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