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Managing Conflicts In A Family Business


wealthymattersFor most people, conflict is uncomfortable. That can be especially true in families who’ve watched family conflict tear successful businesses to pieces:.What’s less often recognized is that too little conflict in a family business can have an equally destructive impact. The impact of both too much and too little conflict on both the family and their enterprise are almost identical. In both cases, the business can suffer from limited growth, poor decision-making, a loss of competitive advantage, and, in severe cases, the sale or split of the company. Similarly, families tend to break up into factions and suffer poor relationships. The mechanisms are different, but the results are the same.

Conflict is a “Goldilocks problem.”In the sense the earth is in what astronomers refer to as a Goldilocks Zone.Much closer to the sun and it would be too hot to sustain life, much further and it would be too cold to sustain life. Though the reasons differ, both extremes make life uninhabitable. Both ends of the spectrum are ultimately unsustainable–so the best place is in the middle. Read more of this post

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Managing Careers In A Family Business


wealthymattersIn family businesses, hiring and staffing decisions are based on relationship and obligation as much as on competence and experience. After all, one purpose of family businesses is to provide employment for the family members ! But that doesn’t mean all family members perform effectively,all the time. People may slack off or stop collaborating, and sometimes they get a pass for their mistakes or behaviors. At times, they may even be disruptive to the smooth running of the business.

So what can be done in such circumstances? Read more of this post

Passing It Down The Family


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A Father’s Wish For His Son


wealthymatters“I hope your first deal is a loser, otherwise you will think you’re a lot smarter than you are.” – the very words with which Fred Koch inducted his son Charles Koch into the family business,

Gurunath Meiyappan


weathymattersEver since IPL match fixing made it to the news,many googlers have reached my blog by searching for Gurunath Meiyappan and/or Rupa Gurunath. So here is some background information about them for the curious:

42-year-old Gurunath Meiyappan comes from the AVM family, which manages AVM Studios-one of the oldest surviving studios in the country. His father, AVM Balasubramanian, is an honorary consul for Paraguay and an ex-president of the Southern India Chamber of Commerce and Industry.His mother, Lalitha, is an avid golfer and has represented India in the sport in international events.  Gurunath Meiyappan’s grandfather was AV Meiyappan, the founder of AVM Productions. Gurunath has a bachelors degree in commerce from Chennai’s Loyola College.He is the managing director AVM Productions and Entertainment.He is also the team principal of the IPL team Chennai Super Kings and son-in-law of BCCI president N Srinivasan,V.C. of India Cements. Gurunath is an introvert who is known to talk to only those with whom he is comfortable with.  Read more of this post

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