In a harmonious blend of ancient wisdom and contemporary insights, a recent partnership between Rishihood University and city book leaders offered a platform for a thought-provoking discussion on family-managed businesses. The event served as an opportunity to delve into the challenges faced by such enterprises and explore solutions rooted in fundamental wisdom. The collaboration emphasized the significance of Rishihood University in fostering discussions on family business management.

Acknowledging the importance of managing the generational dimension, the discussion highlighted the four stages of a generational life cycle: training, transaction, transition, and turn-in. Special emphasis was placed on the transition stage as a crucial phase for ensuring successful family business management. The speakers delved into the critical topic of exit strategies, discussing the 30 actions that can be considered sins in family businesses. Sin 1, known as “eldest son syndrome,” and Sin 30, related to relinquished ownership, were explored. Drawing inspiration from the Mahabharata, the speakers discussed the impact of Abhima’s death on family turmoil.

The speakers highlighted the significance of curiosity, learning, and unlearning as vital elements in navigating the complexities of such enterprises. The video shed light on the substantial contribution of family-managed businesses to the global economy, constituting 70% of global GDP and providing 80% of employment. The book “Sons and Sins” was discussed, particularly its exploration of sanskar (values) in early childhood and their lasting impact on family-managed businesses.

The video concluded with expressions of gratitude, tokens of appreciation, and warm wishes. The collaborative event between Rishihood University and city book leaders provided a rich tapestry of insights, blending ancient wisdom with contemporary perspectives.