1. Why you think there has been an increasing number of family business courses over the last 2 decades?
Earlier, people handling businesses weren't actually aware about how those businesses will get through evolution. Now, with more generations coming in and their hand-overs to the generation, it can be legitimately said that they are a part of a family owned business which used to be an individual business earlier.
2. Why have you opted for a course in family business management? Are you part of a family business? Tell us a little about it.
Yes, I'm a part of a family owned business and I have opted for a course in family business management because I want to eliminate the traditional ways of doing business that my family follows and introduce modern ways and tactics which would further add up to the growth of my business, probably internationally. I think because of the traditional methods, my family and my business are going through a phase which can also be called a 'saturation point'. There has been a very little growth or you can say probably no growth since a long time, maybe because their tactics are old enough to increase their profitability and margins in this modern world.
3. What business benefits might accrue to the business from you enrolling in this family business module?
First of all, what I look towards it as increasing my target market geographically. My business has been dealing with the same target market since 25 years and now I think it;'s high time that we certainly increase the geographical border of the areas that we are dealing in. Secondly, my family trusts in me and believes that I will bring in a change to our business, which I'm ready for but still learning because of course no amount of education is less education. I can always learn new business methods and imply them on my business.
4. How can you contribute to learning about family businesses?
I think the most I can do is imply the things I learn in real life. That's the way I can contribute the most to learning about family businesses. This way I'll be able to get the actual feedback of whether it works or not.