The Family Managed Business Movement was pioneered by Dr M L Shrikant who combined Business Acumen, Management Education and Gandhian way of life. Through his life work of building one of the foremost business schools of the country, he propagated mission of “Influencing the Practice here and now”and “Value based Growth.” Linking Gita to Management he was a believer in Abyudaya (Rising together).
Today most of the Family Business discussions around us follow the western ethos which proclaims individualism, competition and consumption.
Asian Institute of Family Managed Business (AIFMB) focuses on Asian Family Managed Business values which are qualitatively different because of the emphasis on Family Values and Collaboration. Indian Family Business focus on Business Fundamentals as well as Trust, Commitment and Long Term Relationship. However they face key challenges in scale, stakes, and scope which require a altogether different approach.
Prof Parimal Merchant has been advocating this unique approach through his seminars, talks and programs in both India and abroad. Indian Family Business do not require so much of succession issues as much of working together by two generations for 20 years to build a lasting organization. They face different challenges like Induction, Professionalization, Women in Business and Environment
With each new stake the business enters new phase in life cycle and has to be prepared to answer different questions. Having shared the journey for 2 decades AIFMB team has developed unique insights into what drives and stalls Indian Family Business which constitute more than 80% of the economy. Sadly the young generation today is missing out on golden opportunity of being born in family business by thinking of not joining the Family Business.
It is the most important task before FMB Movement to instill in them the pride of joining the Family Business at an young age.