Why have you opted for a course in family business management? Are you part of a family business? Tell us a little about it.
While I aim to start an entrepreneurship career independently, I know that I can rely on my family’s expertise in their sect. Given that I want to focus on sustainability, there is inout that is valuable from such a wide range of markets and industries that really gives a fundamental role to anyone who might be interested in contributing. Given my “weak” initial start position, I believe it is essential to know what truly lies within your collaborators’ hearts. By starting a family business, I know that my success is the focal point not just for myself, but for the people I work with as well, with no other interests clouding any judgement or effort.
2. What business benefits might accrue to the business from you enrolling in this family business module?
While my idea sounds good and is positive when it is all said and done, I believe that it is imperative to put in the work before any kind of operation is commenced. It would be highly presumptuous of me to believe I could simply start a family business without any training or study period beforehand, hence the choice to enrol into this module.
3. How can you contribute to learning about family businesses?
I find that my motives behind starting a family business rather than just joining an already successful one stand apart from the majority of drivers pointing prospects towards their own professional career or interest - what I mean to say is that I would perhaps rather work with my family than with strangers, no matter what their qualifications may be
4. Why you think there has been an increasing number of family business courses over the last 2 decades?
It is possible that this i due to the fact that these can thrive even when economies are put under greater pressure. These can very positively contribute to an economy - if we look at Italy, what should be a collapsing economy is kept alive in many ways by behemoths such as Ferrero.
My greatest doubt when dealing with family businesses is where to effectively draw the line between what is acceptable from an emotional standpoint and what instead must be driven by the economic performance of the firm. Is there any way of choosing priorities according to you?
Being from India, I can say that family business is a tradition that has existed over the centuries, and we like to participate in it because we grew up in that environment, thus that business is known to us like any other daily activity. But there is a need to understand family dynamics, need for knowledge, and management skills required to contribute to its growth. Hence, these courses are gaining popularity as they help the young generation to understand the values, knowledge, and skills required to join the family business.