CICU organised Session on “Growth through Sustained alignment in Family Business” at Kasauli

Ludhiana: Upkar Singh Ahuja, President, Chamber of Industrial and Commercial Undertakings (CICU) Ludhiana while welcoming all the industrialists along with their families emphasized that in India, family businesses crash after 3rd Generation whereas, worldwide stories are different. Mecrcedez Benz a 150 year old company, Sumitomo established in 1630, Kohler 1873 and all these are still Family managed. There are so many successful families in India, who are running their business generation by generation. This program is basically to explore the families understanding, development as well as for the sustainability.

Pankaj Sharma, General Secretary, CICU highlighted that in Ludhiana almost all family are running their business from 3rd Generation and becoming successful models. He said that in current scenario, it is very important role played by families to run joint business.

Simran Senani, Consultant, BAF Consultants along with Rashi K Manwani, Consultant, BAF Consultants explained through a presentation about The key to success in family business is learning to operate in three roles - owner , manager and family member separately and coherently. Individual Family Member’s Happiness , Family Togetherness and Business Growth go hand in hand, each is a precondition for other two. The needs of family business range from preservation of family togetherness, growth and professionalisation of business , building a family office ( for wills , trusts, SHA etc.) and succession planning, One to one coaching/mentoring sessions and establishing a learning platform for family members encourages togetherness. One to One cleansing sessions are also essential to bridge the gap in alignment between the concerned members, creating a Family Vision - Family Goals for health, education, relationships, business, contribution etc, Formation of Core Team and them making plans for action on the vision, Quarterly meetings of Family Council and Family Business Board.
The vote of thanks was presented by Barunpreet Singh Ahuja, a visionary businessman and Executive Director of New Swan Multitech Limited.

The program was attend by more than 20 Business Families, Tejvinder Singh of Big-Ben Group, Ikpreet Kaur of Big-Ben Group, S.B. Singh of Taaran Industries, Harsimerjit Singh Lucky Exports, J.S Bhogal, Farmparts Company, Didarjit Singh of Karam Chucks, Vipan Mittal of Kudu Knit, Pradeep Mahajan of B.R Knit Fab, Kishore Ladia of Space Fashions, Major Singh of Jaewoo Exports, Sham Gupta of Steelman Group, Lokesh Jain of T.K Steel, Gurkirat Singh of Gulzar Group of Institutes along with their families attended the program at Kasauli (H.P).