Challenges Faced by Family Businesses in India

Leadership in family business seems to be undergoing a phenomenal change. While earlier it was autocratic, now it is gradually becoming participative. The younger generation is joining the family businesses and increasingly taking up leadership roles. The senior generation has begun to regard them as capable and well-trained professionals. Some family firms have adopted radical changes in leadership style whereas at the other extreme of this continuum there still remain some firms that are being lead in traditional ways.