Challenges & Opportunities of Family Business

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<ul><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 1/10</p><p>CHALLENGES &amp; OPPORTUNITIES OF</p><p>FAMILY BUSINESS-</p><p>A STUDY OF KIPPS</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 2/10</p><p>INTRODUCTION OF TOPICS</p><p> There are many misconceptions about family</p><p>business. Although many small &amp; micro business</p><p>are family owned and operated. There is</p><p>evidence that family firms are also fast growthfirms and very large successful firms.</p><p> A family business is a business in which one ormore members of one or more families have a</p><p>significant ownership interest and significantcommitments toward the business overall well-being</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 3/10</p><p>OBJECTIVES</p><p> Identifying those issues which are getting in the</p><p>way of business prosperity and family harmony</p><p>and understanding the similarities anddifferences in each family members definition ofpersonal well being.</p><p> To find the basis of expansion &amp; sustainment of</p><p>family business.</p><p> To find out the challenges &amp; opportunities offamily business.</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 4/10</p><p>SCOPE</p><p>Scope defines the work for our project. That means what is in andwhat is out of our responsibilities. In generic terms we userequirements and scope as interchangeable words.</p><p> Identifying those issues which are getting in the way of businessprosperity and family harmony, and understanding the similaritiesand differences in each family member's definition of personal well-being.</p><p> Working with the family's built-in resistance to confrontation, andteaching family members the skills and techniques of effectivecommunication, conflict resolution and problem solving.</p><p>Facilitating business meetings and family retreats at which thoseskills can be applied to addressing the questions which arise duringthe succession planning process.</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 5/10</p><p>HISTORY OF THE ORGANIZATION</p><p> Kipps was established as Shyamlal Vishambharnath sweets 125years ago at Bada Baazar.</p><p> Later on the owners ofShyamlal Vishambharnath diversified theirbusiness under 'Kipps' name &amp; they established Kipps in 1972 atfour different places and also they diversified their business indifferent sectors such as supermarkets, paint &amp; Hardware,Automobiles, Packaging.</p><p> Kipps Supermarket - 1995</p><p> Kipps Confectioner Pvt. Ltd. - 1991</p><p> Kipps Sales Pvt. Ltd. (automobiles) - 1985</p><p> Kipps Franchise in Confectionary- 1997 Modern Packers -1980</p><p> Khandelwal Corporation Ltd.</p><p> Kipps Ocean</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 6/10</p><p>RESEARCH METHODOLOGY</p><p>It is a systematic investigation into and study of</p><p>material &amp; sources in order to establish facts</p><p>and read conclusion</p><p>METHOD OF DATA COLLECTION</p><p> Direct face to face meeting with the owner.</p><p>Questionnaire.</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 7/10</p><p>ANALYSIS AND INTERPRETATION</p><p> Kipps was established in the year 1972 and the name kipps wasgiven as it is very easy to pronounce and the owner read the wordin some novel and they thought it is very catchy.</p><p>At the time when the business was just started; there was nocompetition in the market; and they were ruling over the market.</p><p> As the time passed; many competitors came into the market; themajor competitor is DEEPAK.</p><p> It was told that they maintain there quality and the customerrelationship as the strategies to compete with the competitors.</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 8/10</p><p> In order to retain there customers; the biggest</p><p>factor they prioritize is the quality.</p><p> The root cause of the success of the business</p><p>is there customers.</p><p> They were able to sustain in the market onthe parameter of the quality of sweets</p><p>prepared and services they offered</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 9/10</p><p>CONCLUSION</p></li><li><p>8/8/2019 Challenges &amp; Opportunities of Family Business</p><p> 10/10</p><p>THANKS</p></li></ul>