Various global studies over the decades have shown that only a handful of family businesses survive beyond the third generation, while more than 90 percent flounder. Why? What is the secret sauce that keeps these organizations going strong from one generation to the next? Can their models be successfully replicated by other family businesses? For the first time, two entrepreneurs, a family business consultant and a senior journalist-all experts in their fields-have teamed up to understand why only some family 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 twelve family-run enterprises across industries. While not traditionally large businesses, all of these-Aravind Eye Care System, Bhima Jewellers, Dodla Dairy, Eastern Condiments, ELICO Ltd, Evolve Back, Gera Developments, House of Anita Dongre, IBS Software, OmniActive Health Technologies, Popular Automobiles and Sandu Pharmaceuticals-are well recognized within their sectors, mostly with turnovers of more than ?1,000 crore. 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.
Navas Meeran is the chairman at Group Meeran, ME Meeran Foundation, president of the Kerala Football Association and former chairman of the Confederation of Indian Industry (CII), Southern Region.
M.S.A. Kumar is family business advisor and CEO coach bringing his expertise of managing family dynamics when scaling up. An alumnus of IIM, Ahmedabad, he has worked for over four decades in senior positions in multinationals, such as Sandoz and Bayer, and family-managed businesses, such as the AV Thomas group.
Firoz Meeran is the vice chairman of Group Meeran, ME Meeran Foundation. He heads the family office of Group Meeran and is also the managing director of Scoreline Sports.
George Skaria is a senior journalist, communications specialist and author. He has been an editor with Businessworld, Business Today, Financial Express and Business Standard, where he edited two management magazines, Indian Management and Asian Management Review. He has written for more than twenty publications in India and overseas. This is his fourth book. He lives in New Delhi.
