Case Solution & Analysis for To Mumbai with Love: Exiting the Family Firm by Vanessa M. Strike, Alykhan Alidina.
Complete Case details are given below :
Case Name : To Mumbai with Love: Exiting the Family Firm
Authors : Vanessa M. Strike, Alykhan Alidina
Source : Ivey Publishing
Case ID : 9B16M159 / W16596
Discipline : General Management
Case Length : 12 pages
Plagiarism : NO (100% Original work)
Description for case is given below :
It was the summer of 2015 when the son of a family-owned real estate business in Vancouver was struck by love and decided to follow his heart to India. However, leaving his family’s business was easier said than done. The family had no formal documents that provided members with an exit strategy or remuneration. There were no wills or financial plans, and whatever money was available to finance a move abroad was tied up in the family business, which was operating at a loss. At stake was the pending sale of a commercial property that could inject nearly $3 million into the family’s coffers. Before leaving, which short- and long-term issues needed to be addressed to ensure the business and the family estate were prepared for the future? How should the family move forward when faced with the realization that the children might not be interested in taking over the business?
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