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The 5Gs of Family Business Paperback – 27 Oct 2018
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‘The 5Gs of Family Business is a wonderfully rich overview of family businesses today and the many complex issues that they face. The book thoroughly describes the practices that business families need to embrace to achieve long-term family enterprise success and to continue to prosper for many generations’.
(John A. Davis, Senior Lecturer, Family Enterprise Executive Programs, MIT Sloan School of Management; Founder and Chairman, Cambridge Family Enterprise Group)
Walter Vieira brings a fresh approach to a much discussed topic and uses real life examples to illustrate that business families can and do take a larger view and bring a fresh perspective.(Jamshyd N Godrej, Chairman & Managing Director, Godrej & Boyce Mfg Co Ltd)
‘Did you know that about 70% of the top 500 companies listed on the Bombay Exchange are family controlled, and that two-thirds of India’s GDP is in family-owned companies? In this readable and anecdotal book, Walter Vieira, an internationally known Indian management consultant, sets out stories woven from the many successes and failures he has seen in this type of company. These 5G lessons are not only for an Indian environment, but these are also internationally relevant, and will give any reader ideas for business success and sustainability’. (Lynn Haight, Non-executive Director and Past President, Institute of Management Consultants of Canada)
‘Walter’s understanding of family businesses in India is both sublime and subtle, which makes his writing and assessment superb. Family business is one of the most complex topics in management, and particularly in governance. It has been a core contributor to the economic dynamo in India, as well as in many parts in Asia and China. Some have estimated that family businesses account for over 70% of the wealth, and thus the influence, in Asia. To appreciate businesses in Asia, one has to grasp the hidden drivers (including backseat drivers) behind family businesses. Family provides the first source of finance and labour, but family businesses also bring different challenges into any society, including potential nepotism, sibling rivalry, acrimonious fights for inheritance, the need for family legacy and control and, of course, the inertia for change. Family business has been a ballast for economic growth, either slowing down or propelling an economy forward with a massive undertone. This book is a valuable addition to any library and for those who truly want to understand the hidden mystery and might of India’s businesses’. (Dr Gregg Li, Member of the Advisory Board, Center for Family Business, Chinese University of Hong Kong)
‘The 5Gs of Family Business is a pleasant guidebook for family business leaders aspiring for the continued prosperity and growth of their enterprise across generations. Experienced authors and consultants Mita Dixit and Walter Vieira effectively present their keen observations of successful family businesses, revealing the importance of five factors— genesis, growth, next-gen engagement, governance and giving back—to ensure long-term family and business success. Packed with interesting and insightful stories, and the nuggets of wisdom shared by prominent family business owners, this easy-to-read book is likely to inspire not only current and future leaders of family firms but also professionals serving these enterprises’. (PramoDITA Sharma, Sanders Professor of Family Business, Grossman School of Business, University of Vermont, USA; Visiting Professor of Family Enterprise, Kellogg School of Management, USA)
‘Family-run businesses constitute most businesses in India, as anywhere else. They are fascinating because of the mutual dependence of two ecosystems (family and business) that have inherently conflicting characteristics. No comprehensive picture is still clear on most aspects of a family business. As most of them enter the third and fourth generations, succession planning is one of the key issues confronting them. Walter Vieira’s lucid and simple style in anecdotal prose will make this book interesting for founders as well as inheritors of family businesses and readers at large’. (Navdeep S. Sodhi, International Consultant (Textiles and Clothing))
About the Author
Walter Vieira (certified management consultant or CMC) was among the first to be elected a Fellow of the Institute of Management Consultants of India (FIMC); and also the first to start a marketing consulting company—MAS—in 1975, in Mumbai, India, after a 14-year successful career in the pharmaceutical industry, with Glaxo, Warner and Boots.
In a span of over 40 years, Walter has worked with many of the largest companies in India—both multinationals and Indian—which have been family-managed or corporates. MAS offers consulting in marketing strategy and selection and training of marketing personnel in India, Africa, Southeast Asia and the Middle East.
Walter has published 14 books, three of them in collaboration with C. Northcote Parkinson of Parkinson Law fame. The 5Gs of Family Business is his sixth book published by SAGE.
He has been a business journalist, having written a fortnightly column for Business World for 20 years and for the Times of India for 10 years; has published over 900 articles in the business and general press. He was on the advisory board of the Journal for Management Consultants, USA. He is the only consultant invited to address three consecutive World Management Consultants meets in Rome, Yokohama and Berlin and the World Marketing Summits in Dhaka and Tokyo.
He has been president of the Institute of Management Consultants of India, founder-chairman of Asia Pacific Conference of Management Consultants and later elected chairman of the International Council of Management Consulting Institutes, the world apex body.
Walter is listed by Speakers Academy of Europe for speaking engagements worldwide. He has been a visiting professor at the Bajaj Institute of Management, Bombay University for 20 years and he has lectured in the USA at Kellogg, Lake Forest, Rady, Drexel and Cornell and also in Bangkok, Colombo, Singapore, Spain and Beijing.
Walter now spends considerable time in NGO work and is chairman of the Consumer Education and Research Society; trustee of Money Life Foundation, IDOBRO; and has been advisor to WWF for Nature for many years Walter is also the recipient of the Lifetime Achievement Award (LAA) for Consulting by IMC India in 2005 and another LAA for Marketing by Indys India in 2009.
Dr Mita Dixit is the co-founder of Equations Advisors Pvt Ltd. She is an advisor, researcher and educator, specialized in guiding single- and multigenerational family-owned businesses.
Mita has over 24 years of experience in family business advisory and in management consulting, strategic marketing and organizational development. She facilitates owner-families to develop a unified vision, inculcate good governance, prepare for generational transitions and lead their organizations to the next level.
At Equations, Mita provides strategic direction to the team of consultants and associates. She leads the Knowledge Forum initiative and conducts customized workshops for owner-families to enhance their capabilities, skills and performance. She mentors next-gen scions for future leadership.
Having worked in her family’s business, Mita has an insider’s perspective on family dynamics. She has guided several owner-families to develop and implement family constitutions and build effective board practices.
Mita has worked in corporates at senior positions in marketing and brand management. She has also worked in the academic field as the Head of Research and Consultancy for the Centre for Family Managed Business at SPJIMR, a leading B-school in Mumbai. She is a visiting faculty at renowned management institutes offering family business programmes.
A certified management consultant (CMC), a corporate director and a certified psychometric assessor, Mita is a chemical engineer with a master’s in marketing management. She is the first Indian to do a doctoral research in ‘Conflict and Splits in Indian Family Businesses’ from BITS Pilani University.
Mita is a member of Family Enterprise Research Consortium and a member of the editorial board of the Journal of Amity Business School, India. Her family business case studies have won international prizes and are taught in family business courses abroad. Her research papers and articles are published in peer-reviewed journals and business magazines.
Mita speaks at national and international conferences and seminars on family-business-related topics. The media often takes her views on contemporary issues in family businesses.
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