The Indian School of Business (ISB) here on Thursday announced the launch of the Thomas Schmidheiny Centre for Family Enterprise, for the exchange of insights and knowledge among diverse stakeholders in the field of family business.
Announcing its launch, ISB Dean Ajit Rangnekar said Kavil Ramachandran, Chair of Family Business at ISB, will be the first executive director of the newly established centre. “Most of the business enterprises in India are family- owned enterprises and the new centre will recruit more faculty so that the family business is understood,” Rangnekar said.
“At least half of top 50 business houses in our country are owned by families. We have found that only a third of them survive after the first generation, and only 50 per cent will survive after the third generation,” Kavil Ramachandran said, adding that many factors such as board of governance, wealth management, role of women in the family business, and philanthropy play important roles in the success of a family business.
The Centre is also organising the three-day fifth Asian Invitational Conference on Family Business from Friday at its Gachobowli campus.