Mysore/Mysuru: The inaugural edition of the Family Business Conclave 2023, organised by CII Karnataka and Mysuru Zone, took place recently in city. Themed ‘Managing Change and Expectations – The Way Forward,’ the event was a significant gathering of family business leaders and experts who explored the intricate dynamics of family-owned enterprises.

Dr. R. Nandini, Deputy Chairperson of CII Southern Region, kicked off the event with insights into how the culture and traditions of Indian family businesses contribute to sustainable economic growth. She emphasised the importance of maintaining core values while embracing innovation.

The conclave delved into various aspects of family businesses, spotlighting challenges, opportunities, governance, succession planning, leadership transitions, growth strategies, and more. Discussions underlined the significance of mutual respect, trust, values, education, and adaptability in navigating the evolving landscape of today’s dynamic business environment.

Farhad Forbes, Chairman of FBN International, shed light on managing the delicate balance between business and family, providing international perspectives on the matter. Meher Pudumjee, Chairperson of Thermax Limited, shared her insights on leadership development and the art of selecting the right individuals for key roles.

Arjun Ranga, Immediate Past Chairman of CII Karnataka State Council, underlined the importance of putting family first in all industries, irrespective of size while Vijaykrishnan Venkatesan, Chairman of CII Karnataka State Council, underscored CII’s role as an effective networking platform for industry collaborations and applauded the conclave’s initiative in fostering the growth of family businesses.

Venu Nuguri, Vice-Chairman of CII Karnataka State Council, highlighted the diverse participation of experienced leaders from different generations, enriching the discussions on family business dynamics.

Sam Cherian, Chairman of CII Mysuru Zone, positioned family businesses as the backbone of the economy and an integral part of India’s global success.

The event continued with a fireside chat on intergenerational families, featuring esteemed leaders from Ace Micromatic Group, discussing strategies for harmony, wealth preservation, and business continuity.

The conclave attracted over 60 representatives from diverse family businesses, fostering discussions on intl. perspectives and growth insights. Kaushik Raju, COO of Atria Group, and Pavan Ranga, Past Chairman of CII Mysuru, contributed their expertise on generational family business diversification. The conclave culminated with a call to build strong family business cultures, embrace innovation, and pave the way for successful growth in an ever-changing business landscape.