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Raksha Bandhan 2023: Honouring sibling partnerships that shaped successful start-ups

This Raksha Bandhan, we turn the spotlight on businesses led by Indian brother-sister entrepreneurial duos ....

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Detailed text transcripts for TV channel - MSNBC - 20150516:09:55:00

Can you advise and/or recommend resources. howie, this is what happens so often in multi-generational businesses. the younger people come, they want to do something one way. the older people have institutional knowledge. unlike a business where it s not family, you know you have all of these other emotions that get caught up in this as well. how do you deal with it? right. you ve hit the nail on the head. the post world war ii crowd is either dying out or aging out. now you have many more sibling partnerships or cousin consortiums running it if they survive. their decision making generally speaking is horribly broken. you have the family over here which is emotion based, you have the business over here which theoretically is objective and dispassionate. you put the two together and think we ll have some elements of emotion and dispassion forget about it it s all emotion. the family business decision making is horribly broken in our view. it s quite a problem. it threatens the very ....

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Detailed text transcripts for TV channel - MSNBC - 20150510:11:55:00

This is exactly what happens in multigenerational businesses. the younger people come. the older people have this institutional knowledge. and unlike a business where it s not family you have all of these other emotions that get caught up in it as well. now you have many more sibling partnerships. i have to tell you their decision making generally speaking is horribly broken. you have got the family over here the business over here which is objective and dispassionate. you put the two together and you think we re going have some elements of dispassion. it s all emotion. and the family business decision making is horribly broken in our view. what do you do? do you elect an objective board? ....

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