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Walter Vieira brings a fresh approach to a much discussed topic and uses real life examples to illustrate that business families can and do take a larger view and bring a fresh perspective.
‘The 5Gs of Family Business is a wonderfully rich overview of family businesses today and the many complex issues that they face. The book thoroughly describes the practices that business families need to embrace to achieve long-term family enterprise success and to continue to prosper for many generations’.
‘Did you know that about 70% of the top 500 companies listed on the Bombay Exchange are family controlled, and that two-thirds of India’s GDP is in family-owned companies? In this readable and anecdotal book, Walter Vieira, an internationally known Indian management consultant, sets out stories woven from the many successes and failures he has seen in this type of company. These 5G lessons are not only for an Indian environment, but these are also internationally relevant, and will give any reader ideas for business success and sustainability’.
‘Walter’s understanding of family businesses in India is both sublime and subtle, which makes his writing and assessment superb. Family business is one of the most complex topics in management, and particularly in governance. It has been a core contributor to the economic dynamo in India, as well as in many parts in Asia and China. Some have estimated that family businesses account for over 70% of the wealth, and thus the influence, in Asia. To appreciate businesses in Asia, one has to grasp the hidden drivers (including backseat drivers) behind family businesses.
‘The 5Gs of Family Business is a pleasant guidebook for family business leaders aspiring for the continued prosperity and growth of their enterprise across generations. Experienced authors and consultants Mita Dixit and Walter Vieira effectively present their keen observations of successful family businesses, revealing the importance of five factors— genesis, growth, next-gen engagement, governance and giving back—to ensure long-term family and business success. Packed with interesting and insightful stories, and the nuggets of wisdom shared by prominent family business owners, this easy-to
‘Family-run businesses constitute most businesses in India, as anywhere else. They are fascinating because of the mutual dependence of two ecosystems (family and business) that have inherently conflicting characteristics. No comprehensive picture is still clear on most aspects of a family business. As most of them enter the third and fourth generations, succession planning is one of the key issues confronting them. Walter Vieira’s lucid and simple style in anecdotal prose will make this book interesting for founders as well as inheritors of family businesses and readers at large’.
“Apart from the interesting anecdotes, the simplicity with which the book decodes practical lessons is amazing. The big takeaway is not in the narratives. Rather, the book calls for deep introspection by entrepreneurs, business owners, and successors.”