Untangling Conflict , livre ebook
117
pages
English
Ebooks
2022
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117
pages
English
Ebook
2022
Vous pourrez modifier la taille du texte de cet ouvrage
Obtenez un accès à la bibliothèque pour le consulter en ligne En savoir plus
Publié par
Date de parution
10 août 2022
Nombre de lectures
0
EAN13
9789354924309
Langue
English
Poids de l'ouvrage
2 Mo
Publié par
Date de parution
10 août 2022
Nombre de lectures
0
EAN13
9789354924309
Langue
English
Poids de l'ouvrage
2 Mo
ADVANCE PRAISE FOR THE BOOK
This book gets to the heart of challenges that eventually break apart families and their businesses. It is a wonderful addition to the resources that families in business need, to ask the right questions and develop bespoke solutions that are best suited to their unique family situations.
— N Chandrasekaran Chairman, Tata Sons Ltd.
In a family-owned business, the family, if involved in running the business, usually spends much time in managing the business. They unfortunately spend too little time managing the family and its relationship to the business. This often leads to a divergence of expectations and values that then results in conflict, splits in the family and in the business to the detriment of both. Janme Sinha and his co-authors have done a fine job at articulating the “hard” and “soft” issues that arise and must be dealt with in a family business. They also provide thoughtful answers and tools that can help resolve some of these issues and prevent conflicts from arising. The book should be read by anyone associated with a family business or family office, whether in direct operations management, on the board, or even as part of a business owning family.
— Farhad Forbes, Co-Chairman Forbes Marshall, and Chair Family Business Network International (FBN)
UNTANGLING CONFLICT brings the struggles of families in business alive in an innovative way. Instead of focusing on salacious family feuds, a fictional family is used to highlight areas where conflicts may arise and ways to manage them. The book is easy and fun to read and yet makes you introspect as you read it.
— Jamshyd Godrej Chairman, Godrej & Boyce
As a member of a family business, I have been fortunate to have experienced the benefits of early adoption of certain value-based principles in preventing and resolving conflicts in a business family. It is a subject that is complex and needs a mixture of written charters, values, beliefs, leadership and most importantly, some Lakshman rekhas that are foundational and can never be breached. You need to create a system that spans generations in an evolving world. For a successful formula, it is not enough to have guidelines alone. Managing emotions, ego, and traditions is equally vital. This book brings precise and profound insights from the experience gathered over generations of families, some which were conflict ridden and some which have enjoyed a harmonious relationship. Janmejaya has had the unique opportunity to observe many of these from a vantage point and he has put together the most constructive set of approaches that can prove to be invaluable in the family business context. ‘Prevention is better than cure’ could not be more overstated when it comes to family business conflicts. And this brilliant book has all the essential prescriptions.
— Harsh Goenka, Chairman, RPG Enterprises
An exceptional un-put-down-able primer which analyzes underlying family conflict using four broad quadrants: emotional baggage, material baggage, structural baggage, and external relationships baggage. The case study around which the book is woven makes it read like a storybook, which just cannot be put down. The well-researched book comes with to-do lists and questions for reflection which is enormously useful for families that are facing conflict issues. Leaves nothing out. Well done.
— KV Kamath, Chairman, National Bank for Infrastructure Development
Conflicts in family businesses are inevitable and resolving them requires a dispassionate approach. The book delves deeper into how to decode the root cause of a conflict, prepare the response mechanism to manage transitions and chart out growth. The authors have captured various facets of conflict resolution for family businesses with clinical precision. One of many interesting parts of the book is the diagnosis of the key reasons of such conflicts. A must read for all family-business leaders.
— Nimesh Kampani Chairman, JM Financial Group
Janmejaya’s book on families in business and issues of conflict strikes a chord with me. I was born and brought up in a joint family which was together at home and in business. The western model of markets and now regulation, at times, sits uncomfortably with the ethos of a family system.
He is absolutely right in using the phrase “untangling conflict”. The book goes into issues arising out of emotion and misalignment of expectations, as drivers of conflict, and into how to address those. India is seeing the steady reduction of the family system in markets, which though continues to be the dominant model in the non-listed space. The concept of governance in India also needs a more nuanced approach which does not blindly ape the west, but respects the Gandhian principles of trusteeship.
— Uday Kotak, Managing Director & CEO, Kotak Bank
When I set out to build an investment banking franchise in India, it meant dealing with multiple family businesses. My brother and I decided to focus on our individual ambitions–industry and finance–and took separate paths amicably, without disturbing our family ties and extending support to each other, when required. Thereafter, selling my investment banking business and building an asset management business allowed me to make independent decisions for my business and my family. I believe family- owned offices should take early business decisions or have a plan for business succession, as the case may be, to avoid future conflicts. A family culture and reputation are very important in building a reputable business. A book like this is overdue and will help all families deal with the family side of their business. I recommend it strongly.
— Hemendra Kothari Chairman, DSP Investment Managers
This book gets to the heart of problems that break apart families and their businesses. It is a wonderful addition to the resources families in business need to ask the right questions and develop bespoke solutions that are best- suited to their unique family situations.
— Aloke Lohia, Vice Chairman and Group CEO, Indorama Ventures
Untangling Conflict goes beyond Family and Business Governance. It provides valuable insights to manage softer issues, real or perceived, of understanding both Family and Business through personal reflection and introspection, which are often ignored in the quest for resolution. The authors bring out the need for sound values, trust and transparency within the Family and Business in order to build enduring institutions. This is particularly important in a rapidly changing world where new opportunities emerge every day, often through disruptions of time-tested business models.
However, fundamentals of governance still remain strong and steadfast if these opportunities are to be harnessed and enhanced. In this manner, there will be greater joy amongst family when individual aspirations are met, and the family legacy and contribution to business and society continues with respect and responsibility. The authors provide a universal perspective to issues of addressing conflict, thus making the book a must- read guide for business families across countries and cultures.
—MM Murugappan Chairman, Carborundum Universal, Ltd., Chairman, Cholamandalam MS General Insurance
I have closely studied family-owned business as a subject and in my opinion, the values of a business eventually resemble the values of the owner family. So when family members spar, it becomes impossible to ringfence the business.
As the authors have rightly pointed out in this timely book, “exit” from the family is virtually impossible unlike professional relationships, hence the fervent need for prevention over a cure. When soaring ambitions, frayed egos and generational changes are thrown into the mix, however, the simmering pot of conflict often boils over.
This book examines the fertile environment for conflict, including soft and hard aspects from ground zero. It uses data insights, learnings, and experiences from around the world to develop an interesting narrative that is both refreshing and eye-opening. The authors straddle the emotional and rational worlds of family and business with great skill while offering pathways both sensible and feasible. An important piece of work in an era of great upheaval.
—Sunil Kant Munjal
Chairman, Hero Enterprise
This book is arguably amongst the most thought-provoking narratives ever on conflicts in family-owned businesses. Deftly woven together by four of BCG’s finest resources, the book stands out for its deep understanding that a one-size-fits-all approach does not work. Instead, the authors in a lucid style, capture the trials and tribulations of family-owned businesses through their deep associations and seek to provide guideposts to ask the right questions and arrive at optimum solutions through introspection and self-realization. This is a clear departure from forced, prescriptive methods endeavored by many whilst advising on conflicts in family businesses. A must-read for anyone curious to learn how to be empowered with the right tools to untangle conflict.
— Deepak Parekh, Chairman, Housing
Development Finance Corporation Limited
Globally, much academic work has been done on family businesses, and many biographies written chronicling the trajectories that have shaped not just families but their impact on economies. This book stands out because it is a guide and not a prescription or a manual. Families are complex and so is business, and when you juxtapose them, it has a multiplier effect. Navigating such a scenario is an art, a science, but most importantly unique in each case. It gives comfort to the reader that seemingly intractable difficulties can be addressed as long as there is commitment of family members to find an amicable solution. It is a must read for families and professionals alike, as the scenarios painted are those we can relate to and learn from.
As a sixth-generation family entrepreneur and with
