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Wednesday, Jan 21, 2004

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Workshop on `family business' in Kochi

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KOCHI: CII-Kerala is organising a one-day workshop on `family business' here on Saturday. The objective of the workshop is to discuss some of the critical aspects of family business such as mentoring of younger generation, building of competencies to deal with issues of changes, succession planning, conflict resolution and strategies to stay together for generations.

Family businesses have been the heart and soul of Indian enterprises. The close-knit structure and respect of family values was held all the ingredients for business success. Statistics revealed that family business contribute to almost 60-70 per cent of the GDP in most advanced countries.

However, invariably they lose control over the business due to internal squabbles and lack of dynamism after the second or third generation. Statistics showed that only 4 per cent of the family businesses go beyond the third generation, a release issued here said.

The speakers of the workshop included Mr M.V. Subbiah, Executive Chairman, EID Parry India Ltd, Chennai, Mr R. Haresh, Director, Sundaram Industries Ltd, Madurai, Mr Jose Dominic, Managing Director, cgh earth, Kochi, Mr R. Parthasarathy, MD, Thirmalai Chemicals Ltd, Ranipet.

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