ISB report links legacy to biz success
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A new report by the Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business (ISB) sheds light on the power of legacy in driving family business performance. The report, titled “Unlocking Legacy: The Path to Superior Growth in Family Businesses,” reveals a strong correlation between a family business’s commitment to its heritage and its long-term success.
The research, conducted in collaboration with KPMG Private Enterprise and the STEP Project Global Consortium, surveyed over 2,683 family business leaders across 80 countries, including India. Key findings highlight the importance of a “future-centric” view of legacy, where tradition and innovation go hand-in-hand.
The report finds that Indian family businesses place a high value on legacy, scoring 78 per cent on its importance – matching the global average. This reflects the deep-rooted cultural identity often associated with Indian family-owned enterprises.
