Beyond Three Generations: An entrepreneur's guide to sustained success of family business

The book was launched recently at a press conference in Kolkata.

For the first time, two entrepreneurs- Navas and Firoz Meeran- have teamed up with a family business consultant, MSA Kumar, and senior journalist George Skaria – all experts in their fields – to understand why only some businesses survive beyond the third generation and how other businesses can follow the same blueprint for longevity.

With a special focus on micro, small and medium enterprises, Beyond Three Generations studies 12 family-run enterprises across industries.

While not traditionally large businesses, all of these are well recognized within their sectors, mostly with turnovers of more than Rs. 1,000 crores.

The authors document how these companies started small, built solid foundations, set up systems and processes, and established a culture that would last.

They use their keen insight and expertise to reveal not only the critical drivers that help create lasting organizations but also how one can balance the two key dimensions to building any family business - family and business.

Speaking during the event, M.S.A.Kumar said, "We have explored the methodology and the strategies that have worked for these established family businesses.

"Further, my forty years of managerial experience along with a decade of consulting family business houses gave much insight to this book. New generations face unique challenges as they enter the business."

"We have covered this as well as a host of other crucial topics that are essential to building long-lasting companies."

Feroz and Meeran said, "An issue that is majorly faced by the family business while introducing professionalism, establishing governance structures, or planning for succession.

"This book creates a scope for discussion on these among family Business owners, experienced CEOs and CXOs of these kinds of businesses, and other relevant stakeholders."

(Images by Avishek Mitra/IBNS)