Every family business in India is an extension of the family itself – its members, its dynamics, its relationships, its strengths and its conflicts. As a family, made up of this complex ecosystem, works to create and develop a business, one often finds that the structures of the family itself underpin the organisation. Both culture and values, as well as the conflicts manifest themselves in different ways into the running of the business.

Successful relationships are the bedrock of a successful business. It is, therefore, important for every family business to invest in its relationships. The family needs to set up forums for communication, opportunities to bond, and ways through which every member can learn from each other. Every family member also needs to make a commitment to the family and to building these relationships and must understand intrinsically that investing in these relationships is as important as investing in the business.