Bonding in Family Business As explained earlier, relationships between members of the family plays an important role in the field of business. And bonding goes a long way in managing and maintaining a healthy environment to work in. There are basically four types of bonding- physical, emotional, spiritual and societal. 1) Physical Bonding Families in […]
Thought of the Day “When your headlights aren’t on, the best rearview mirror available isn’t likely to improve your driving.” - Extreme Trust by Don Peppers and Marth Rogers This analogy used here can be deciphered in a way in which, a family business company, however strong their foundation is, and have a past […]
Bonding Mr. Tatwamasi Dixit in his book- “Indian Family Business Mantras” brings in Indian ethos to explain certain business themes that can be brought into play in the 21st century business sphere. There are many family businesses worldwide but Indian family businesses are distinctive and have their own governing characteristics. They inculcate a unique, embedded […]
POLL- Do you think the “three circle Model” can be used effectively to understand the dynamics of family Business? YES/NO
Tatwamasi Thursdays- Three circle Model As mentioned earlier, about the three circle model, a few examples can be given to show how this model is used to signify its importance. A concept called “hat management" is given prime weight age in the field of family business. In the three circle model, there are distinct areas […]
The Three Circle Model Explained In India, usually, the next generation family members are often expected to join the family business and commit their working lives to it, regardless of their aptitude, talent or inclination. Everyone involved in a family business falls within one (and only one) of the seven sectors created by the three […]
Thought of the day "Successful people do what unsuccessful people are not willing to do. Don't wish it were easier; wish you were better." - Jim Rohn (Entrepreneur, Author, motivational speaker. His rags to riches story played a large part in his work, which influenced others in the personal development industry)
What is the three circle model? The Three-Circle Model of the Family Business System was developed at Harvard Business School by Renato Tagiuri and John Davis in the 1970s. It soon became, and maintains to be, the central organizing structure for understanding family business systems, used by families, consultants and academicians worldwide. This framework clarifies, […]