CASE STUDY ON FAMILY MANAGED BUSINESS: WHEN & WHY JOIN FAMILY BUSINESS?

Abstract [English]

Pramod, a self-made businessman is facing challenges in inducting his son Tarun in the business. Initially, the son has serious reservations about the business and does not want to join. But after failure in his own initiatives, eventually he reluctantly joins the family business. Over the years the business has doubled but profitability has declined. The relation between father and son were strained and it deteriorated further. Personally both of them are unhappy.