Parampara Family Business Institute, a non-profit research and educational institute under 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 series ‘Essential Mantras for Family Business’. The one-hour symposium will 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 expert moderator.
As family businesses progress into the next generations, the entrepreneurial spirit and risk appetite tends to diminish. As the size of the family grows, the business needs to expand/scale up proportionately in order to provide for adequate opportunities for the growing number of members. There are great examples of some highly successful family enterprises which have got it right staying together.
The Mulliez Family from France is one such example. The Association Familiale Mulliez (AFM), founded in 1955, is the holding company of the Mulliez family represented by 800+ shareholders from the family; second to sixth generations are active in the family enterprise; it controls 28+ companies and employs 7,50,000 people in a wide range of businesses and industries.