Parampara Family Business Institute, a non-profit analysis and academic institute beneath GMR Varalakshmi Foundation, the CSR arm of GMR Group, will host an online symposium — ‘Togetherness in a Large, Multi-generation Family Firm: Is it impossible to stay together in the long run?’ — on October 17 between 5 pm and 6pm.
This is the fifth symposium of its sequence ‘Essential Mantras for Family Business’. The one-hour symposium could have Antoine Mayaud, Chairman of CreAdev and Board Member of Association Familiale Mulliez, as speaker, and Peter Leach, Founder and Chairman of Peter Leach Associates, as professional moderator.
As household companies progress into the following generations, the entrepreneurial spirit and danger urge for food tends to diminish. As the scale of the household grows, the enterprise wants to develop/scale up proportionately so as to present for ample alternatives for the rising quantity of members. There are nice examples of some extremely profitable household enterprises which have gotten it proper staying collectively.
The Mulliez Family from France is one such instance. The Association Familiale Mulliez (AFM), based in 1955, is the holding firm of the Mulliez household represented by 800+ shareholders from the household; second to sixth generations are energetic within the household enterprise; it controls 28+ corporations and employs 7,50,000 individuals in a variety of companies and industries.