Family Business Report on Rajesh Exports
Examine sustainability and growth of a family owned business in light of COVID-19 crisis.
In your report you should aim to cover the following 2 parts
PART A (1000 words)
(i) Introduce your family
– (Prepare and present your family genogram)
(ii) Introduce your business including history of the firm
(iii) How does your family contribute to the business it owns?
In answering this question, you should look at the following:
What is the unique contribution of your family to the firm?
To what extent is this contribution transferable to future generations?
Evaluate the family assets listed below and discuss to what extent is current (and future firm strategy) founded on these family assets .
Family Assets can be regarded as following:
Family Values
Family Heritage
Family Reputation
Family Identity
Family Network
Family Ownership Structure
What does the ownership structure–among family members or between family and other owners looks like?
Does the current ownership structure preserve the family assets? Does the current ownership structure mitigate the cost of roadblocks?
Family Governance: Examine the current family and firm governance in place? What is the scope for improvement?
Examine the Succession and Next Generation planning:
Examine the process family has put in place to education next generation of business owners.
Which succession model should the family choose to support the future of the family firm beyond their lifetime
PART B (1000 words)
(iv) Recap about how the family perceived the threat from COVID-19
For this part you will need to interview at least 1-2 members from your family business
How did the family interpret the first threats from the Covid? Please explain what happened in the first couple of weeks. What decisions did the family make initially?
How did the interpretation of the threat change after the first wave? You will need to provide clear timeline?
What specific decision did your family business make as a result? Focus on different functions like people, supply chain, financing, investment management?
How do you expect the operating environment to change in the next 12 months? What decisions do you think you may have to take in this time frame?
(v) Recommendations: Given the current and future set of family assets and obstacles, outline recommendation to sustain the long-term sustainability of family firm.
You may use any of the tool/s from the textbook and/or in the article: ‘Analyzing Family Business Cases: Tools and Techniques’ by Sharma, Blunden, Labaki, Michael-Tsabari, Algarin.
