• Dr.Roopadarshini.S
• LAKSHMINARAYANA.K

Economic liberalization and rapid expansion after 1990 leads to an industrial base in recent years have not only created growth opportunities for many but also have tested their resource capabilities to respond to them; some have chosen to follow the role of a custodian of their existing wealth and followed the preservation route, while some others have followed more of an entrepreneurial route of exploiting opportunities with or without relevant resources, with mixed results. One of the key resources for all of them is their family, and their prime concern is wealth and welfare of their family. A family business is a business in which majority of business is controlled and managed by family members. India is having rich and glorious history of family business. Tata, Birla, Murugappa, Dabur, reliance, etc. family businesses are successfully surviving more than three generations. But still family businesses are facing major challenges like succession planning, sibling rivalry, imbalance between family and business issues. If new generation respects old generation and considers their experience and at the same time old generation should consider creativity of new generation, then family businesses will have more opportunities in Indian economy. Long term commitment , family bonding, loyalty towards customers and employees, social identity, hands on training experience, risk taking capacity, fast decision making , respect for generations and family culture are some peculiar features of family businesses in India.

"FAMILY BUSINESS IN INDIAN CONTEXT: ISSUES AND CHALLENGES", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 12, page no.244-255, December-2018, Available :http://www.jetir.org/papers/JETIR1812235.pdf

"FAMILY BUSINESS IN INDIAN CONTEXT: ISSUES AND CHALLENGES", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 12, page no. pp244-255, December-2018, Available at : http://www.jetir.org/papers/JETIR1812235.pdf