How often do you hold Board Meetings , Operational Meetings? Board meetings happen every month or it also depends on the requirements of the emergency . How are the meetings organised and who attends? The meeting are attended by the shareholders the board member which consists of 4 members Are the roles of Chairman and Chief Executive differentiated? Yes , it is differentiated How are the roles of Directors defined? There are 2 directors first is the operational director and second are the silent directors . Do Directors have limited terms of office? No How are family Directors roles defined? There are 2 family directors in the business first in my brother and the second is my sister so they have different roles one deal in sales and other look after the accountants of the company

Succession In my family business there is no succession plan yet, so it would be hard to me to properly answer.

1. How would you describe the financial or other performance of your family business? Looking at the financial performance of my family business is good now , but in covid it was not that great as there was no demand of the dairy items there was a little financial tiff but now it is getting better day by day . 2. In what ways are your family’s economic needs in conflict with the family business’s financing and investment needs? Probably at the stage of more investment my father wants to invest in other things but my uncle want to invest in different so there is conflict between them and then there is financial problems 3.What transition do you envisage for your family business’s financial investment and management needs in the next decade? Probably the company is going to expand, there are already some investments for making the factory bigger, and this should bring us to a bigger ,market share because we will be able to produce and sell more.

1. How would you describe the culture of your family’s business? In my family business, we are working nationally. The core business is located in India so all the employees have to trained in a manner so that they can never forget there culture . As India is a country of most of festivals and values so my company take care of all the benefits of the employees, as in India Diwali is the biggest festival so we make sure that all the employees get off for 2 days so that they can have there family time and we also give then sweets and bonuses 2. In what ways are your family’s purpose and values reflected in this business culture? 1.Respect- as my father thinks that just give respect so everyone all the employees and treat them nicely 2. Hardworking- hard work will always be paid off as my father tell me that just give your best and never think of the return and be hardworking 3. Honesty-having a transparent relationship with everyone will solve many problems. 3. How does this stage of your family business’ lifecycle contribute, affect or erode the business and ownership dimensions of your business? The company has been founded by my father and his brother 35 years ago and therfore he has grwon with the business. The structure now gives him a lot of power, as it is only my father and his brother making decisions. They do not have to talk to the board when making decisions and are therefore free to make ny decisions they want.

What stage of the family business Lifecycle is your family business in? My family business is a partnership business in which my father and this bother are in equal partnership My father has 50% of shares and my uncle has the other 50% of shares 2. In what way does this stage reflect a ‘problematique’ and challenging stage? It can be an issue when the co-owner attend the board meetings and have a different vision from each other so there can a conflict between the other party and my father and this brother also 3.How does this stage of your family business’ lifecycle contribute, affect or erode the business and ownership dimensions of your business? Sometimes it can be hard to work with partners which do not share your same ideas and this can erode the business and it can also get differences between them and there families 4.What transition do you envisage for your family business’s lifecycle stage in the coming 10 years? I think my father and his brother will want there children’s to get in there family business so the they can diversify there business and have more factories and more manpower so that they can i better market value

As per the three circle we’ll be discussing the people involved in the business: interdependent and overlapping groups: family, ownership and business. An individual in a family business system occupies one of the seven sectors that are formed by these overlapping circles. An owner (partner or shareholder) will sit within the top circle. Family members will occupy the left-hand circle, and employees of the family company the right-hand circle. If you fill two roles, you will be in an overlapping sector, sitting within two circles at one time. 1. Family members not involved in the business, but who are descendants or spouses/partners of owners. 2. Family owners not employed in the business. 3. Non-family owners who do not work in the business. 4. Non-family owners who work in the business. 5. Non-family employees. 6. Family members who work in the business but are not owners. 7. Family owners who work in the business. Yes the three circle is applied in my family business my mother do not grt involved in my family business the hole sole is in the hands of my father and this brother they only look after the family business . But as my father’s bothers son works in the family business he is not the partner in the business but he is working in the business .

Why have you classified it as a family business? In the the literature, some authors define family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family. Family-owned businesses may be the oldest form of business organization. Similarly my family business was founded by my father and his brothers and now is highly influenced at all levels in the market . why was it brought into existence? India is ranked 1st in milk production contributing 23 per cent of global milk production . It required low labour cost and gave more benefits because of the the business was started . My father and his brothers wanted to have a business in which there is less labour cost and more profits . What advantages and disadvantages does it present today to the family business? Dairy industry is most profitable and growing business sector of India. There are various business opportunities available to start in this sector. There will always be a need for such an industry and even more due to the large population of my country. However there are more competition in this industry but still we are in this industry because all depends on the quality and the quality of the product .