Strengths and weaknesses of family business: Indian context

Abstract

The paper examines the location and status of family businesses in the industrial context of India. Indian Family businesses shifted from trading and distribution to manufacturing. The shift demanded changes in leadership role, mindsets of people and the interfaces around leadership style. Indian family businesses are characterised by the following significant processes: The entrepreneur is the hero idealised, glorified and respected by his people. The employees are treated as family members and extended family. The collective interest of the system and the group in upheld rather than the individual. Competent and capable leadership manages the workforce through social structures and role processes.