Family possessed organizations contribute 70% to 80% of the worldwide Gross Domestic Product (GDP). In India, around 85% of organizations are family-run organizations. India has a long drawn history of privately-owned companies, Tata, Birla, Reliance and Mahindra are the best models in this field.  What are family-run organizations? This is essentially characterized as the business wherein at least two relatives are included and the responsibility for lies with the family. 

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