Welcome to the TES’s Centre for Family Business Research.
Our mission is to create a leading entrepreneurship school research centre which provides a stimulating entrepreneurial environment to promote high performing ventures through cutting edge entrepreneurial research, teaching and practice.
Family firms represent more than half of businesses in India. The diversity of family businesses and their behaviour make them an important field of study and one which is naturally multidisciplinary, involving sociology, economics, technology, business, culture and history. Understanding family firms requires the analysis of the complex interaction of family and firm, the forces underlying family values and the way these shape the business culture, behaviour, and capabilities of firms.
Family firms tend to be older than non-family firms and many of the longest surviving firms are family owned or controlled. It is often said that innovation is crucial to the survival of firms. These longstanding family firms provide interesting lessons for others on how to sustain innovation across generations. Intergenerational succession lies at the heart of the longstanding family firm. Succession has in it the potential for change and regeneration of the firm, based upon a bedrock of shared experience and history.
This interplay between the continuities of past experience and the need for change lie at the heart of the family business. They mean that the decisions to innovate and change, made by later generations, are every bit as entrepreneurial as the original decision to found the business.
The research in such family business will help such businesses in develop a culture of innovation and change which will in turn foster sustainable value creation.