Srinagar, Sept. 3 -- In many parts of the world, family businesses are more than just economic engines; they are symbols of legacy, trust, and continuity. These enterprises, often passed down through generations, stand as a testament to resilience and shared identity. Yet, as the 21st century reshapes economies and societies, family businesses face an undeniable truth: survival depends on balancing tradition with innovation.

The Push and Pull of Generations

One of the most pressing challenges within family enterprises is the friction between generations. Senior members often value long-standing practices, time-tested methods, and cautious growth strategies. They believe the business should preserve its founding principles-whether it's t...