challenges & opportunities of family business

8/8/2019 Challenges & Opportunities of Family Business

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CHALLENGES & OPPORTUNITIES OF

FAMILY BUSINESS-

A STUDY OF KIPPS


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INTRODUCTION OF TOPICS

There are many misconceptions about family

business. Although many small & micro business

are family owned and operated. There is

evidence that family firms are also fast growthfirms and very large successful firms.

A family business is a business in which one ormore members of one or more families have a

significant ownership interest and significantcommitments toward the business overall well-being


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OBJECTIVES

Identifying those issues which are getting in the

way of business prosperity and family harmony

and understanding the similarities anddifferences in each family members definition ofpersonal well being.

To find the basis of expansion & sustainment of

family business.

To find out the challenges & opportunities offamily business.


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SCOPE

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.

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.

Working with the family's built-in resistance to confrontation, andteaching family members the skills and techniques of effectivecommunication, conflict resolution and problem solving.

Facilitating business meetings and family retreats at which thoseskills can be applied to addressing the questions which arise duringthe succession planning process.


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HISTORY OF THE ORGANIZATION

Kipps was established as Shyamlal Vishambharnath sweets 125years ago at Bada Baazar.

Later on the owners ofShyamlal Vishambharnath diversified theirbusiness under 'Kipps' name & they established Kipps in 1972 atfour different places and also they diversified their business indifferent sectors such as supermarkets, paint & Hardware,Automobiles, Packaging.

Kipps Supermarket - 1995

Kipps Confectioner Pvt. Ltd. - 1991

Kipps Sales Pvt. Ltd. (automobiles) - 1985

Kipps Franchise in Confectionary- 1997 Modern Packers -1980

Khandelwal Corporation Ltd.

Kipps Ocean


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RESEARCH METHODOLOGY

It is a systematic investigation into and study of

material & sources in order to establish facts

and read conclusion

METHOD OF DATA COLLECTION

Direct face to face meeting with the owner.

Questionnaire.


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ANALYSIS AND INTERPRETATION

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.

At the time when the business was just started; there was nocompetition in the market; and they were ruling over the market.

As the time passed; many competitors came into the market; themajor competitor is DEEPAK.

It was told that they maintain there quality and the customerrelationship as the strategies to compete with the competitors.


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In order to retain there customers; the biggest

factor they prioritize is the quality.

The root cause of the success of the business

is there customers.

They were able to sustain in the market onthe parameter of the quality of sweets

prepared and services they offered


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CONCLUSION


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THANKS

challenges & opportunities of family business

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