Family Dynamics

Family Dynamics Globalization of the Indian economy has all pervasive impact on market dynamics and socio-cultural aspects. Family businesses are inundated by the forces of change influencing not only their business dynamics but also the family dynamics. At Equations, we recognize the power of family dynamics - the patterns and subtle systems influencing family’s relationships, behaviours, attitudes, and well-being.

The Changing Dynamics

Family dynamics are based on relationships, emotions, loyalty and conflict as against business dynamics of competitiveness, task-focus, result orientation, and flexibility. With changing environment and family sizes, family dynamics usually change because of:
  • Two generations’ interface and differences arising at the entry stage of younger generation in the business
  • Diverse aspirations, personalities and leadership styles; incongruent Vision for the family and the business
  • Changes in family size; business ownership structures; succession decisions

Balancing Equations

Balanced family dynamics are vital for the success and longevity of family businesses. From small to large families, founder to cousins’ generations, our mission is to provide practical guidance to intangible and emotional concerns of the family with discretion and impartial approach. Our involvement helps to:
  • Address differences in personality styles, individual values and ambitions
  • Create a collective Vision and formulate members’ roles in sync with business goals
  • Design Conflict management protocols and Code of Conduct
  • Groom next-generation members on entrepreneurial and leadership roles
  • Develop Family Governance mechanism for family’s harmony, wellness and wealth management
  • Prepare the family for change – with changing family structure and business environment

Family Governance

To sustain across generations, successful family businesses adapt family governance - a culture of fairness, transparency, and collective welfare of the family. When the businesses and families grow in size, family governance helps in creating a platform for family’s structured involvement in the business, addressing family issues prudently, and preparing for business transformation. We help client family businesses to develop:
  • Board of Advisors, Family Board, and Family Council
  • Family Meetings, family retreats
  • Professionalized approach of family’s participation in the business
  • Inducting non-family professionals in senior positions
  • Coaching family members on interpersonal communication, conflict management, and business skills

Transition to Transformation

  • Synchronize family aspirations, values, roles
  • Enrich next-gen leadership, professionalization
  • Inculcate family governance for best practices
  • Balance family, ownership, control dynamics

arrow     Family Business Consulting

arrow     Leadership Development

arrow     Succession Planning

arrow     Business Transformation

arrow     SME Growth Consulting