BEYOND THREE GENERATIONS

Various global studies over the decades have shown that only a handful of family businesses survive beyond the third generation, while more than 90 percent flounder. Why? What is the secret sauce that keeps these organizations going strong from one generation to the next? Can their models be successfully replicated by other family businesses? For the first time, two entrepreneurs, a family business consultant and a senior journalist-all experts in their fields-have teamed up to understand why only some family businesses survive beyond the third generation and how other businesses can follow the same blueprint for longevity.With a special focus on micro, small and medium enterprises, Beyond Three Generations studies twelve family-run enterprises across industries. While not traditionally large businesses, all of these-Aravind Eye Care System, Bhima Jewellers, Dodla Dairy, Eastern Condiments, ELICO Ltd, Evolve Back, Gera Developments, House of Anita Dongre, IBS Software, OmniActive Health Technologies, Popular Automobiles and Sandu Pharmaceuticals-are well recognized within their sectors, mostly with turnovers of more than ?1,000 crore. The authors document how these companies started small, built solid foundations, set up systems and processes, and established a culture that would last. They use their keen insight and expertise to reveal not only the critical drivers that help create lasting organizations, but also how one can balance the two key dimensions to building any family business-family and business.