1Director - Global FMB Program S. P. Jain School of Global Management
Change is the only constant in life... The more things change, the more they remain the same... Things are changing very fast... These are all clichés we’ve heard umpteen times over, and so they seem meaningless to us. But we disregard change at our own peril, especially in the case of family businesses. Because most family businesses are small scale and operate within a limited environment, change often passes them by. We do see some small obvious changes, like the telephone instruments that were used for communication in the 90’s for example are hardly used now, and lay around like relics in shops and offices. We have family businessmen who have started to use computers to keep accounts and smartphones to communicate. But do these things only mean that they have adapted to the changing times? The answer is no.