'Family biz key to nation-building'

Hyderabad THOMAS Schmidheiny Centre for Family Enterprise at the Indian School of Business (ISB) has organised an online panel discussion on family business, where captains of Indian industry reiterated that family business in India played a significant role in socio-economic transformation of the country and will continue to play a more important role in nation-building.

Farhad Forbes, Co-Chairman, Forbes Marshall, highlighted that due to the inherent spirit of entrepreneurship, family business over the years has sustained itself very well and with new opportunities coming up, next generation is well poised to steer forward their organisation to the next level and family business will continue to be a significant force in the transformation of the country. He encouraged next generation to pursue new untapped areas which are aligned with their family business legacy.

Puneet Dalmia, Managing Director, Dalmia Bharat Group said that family business is known for being most adaptable and this principle is enabling family business withstand the pace of changes and disruptions. Stable shareholders, risk-taking ability and entrepreneurship spirit has been some of the key hallmarks of family business, he added. He underlined the need to foster innovations and treat family members as professionals and build upon the skill-sets of the members and explore new growth trajectories.

The programme was also marked by the online release of Lasting Legacies - Championing Indian Family Business Growth publication, that captures the inspiring journey of Thomas Schmidheiny Centre for Family Enterprise at ISB.