Women breaking barriers in family businesses
Survey suggest that the role of women in family business has been evolving over the last few decades
Hyderabad: Women have been relegated to invisible roles in the family businesses in administrative duties or as informal advisors or to exclusively managing the household. However, the role of women in family business has been evolving over the last few decades, said a survey.
The STEP Project Global Consortium and KPMG Private Enterprise surveyed over 1,800 family businesses from 33 countries across the globe to reflect upon the role of women in family businesses. The Thomas Schmidheiny Centre for Family Enterprise of Indian School of Business (ISB), conducted the survey in India with responses from 53 companies across both manufacturing and services sectors.
The report said women in family businesses are breaking the stereotype and engendering greater diversity at the workplace. Women are equipping themselves to balance the obligations at work and at home.
“Both men and women contribute to gender stereotyping and hence they need to work together and clearly define the roles, responsibilities and communicate to all stakeholders”, said Dr Nupur Pavan Bang from ISB.
“Organisational practices and policies are required that promote fairness and minimise bias”, she said.
Women in family businesses are breaking down the barriers and many are successfully managing their family businesses including in segments like steel and scrap-metal processing, cement manufacturing and the production of hardware products. They are able to balance the need at the workplace and at home. Family firms’ decision on succession are increasingly being driven on merit and capability instead of gender, the survey said adding that in India, the amendment to the Hindu Succession Act in 2005 conferred property rights to daughters (married or unmarried) and granted them equal rights as the sons, a release said.
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