Building a Legacy: Managing a Family Business for Future Generations
Family businesses are the backbone of India\'s economy from iconic names like Tata and Reliance to local retail stores. But surviving across generations isn\'t guaranteed. With only 30% making it to the second generation, succession planning becomes critical. This blog dives deep into the importance of family business succession planning in India, highlighting the cultural challenges, practical steps, and real-life case studies (like Godrej and Tata) that show how to do it right. It also explores how performance management systems ensure stability and growth during transitions. Originally posted on Medium.com