New Delhi, Aug. 16 -- Tremors deepening fissures within Tata group boardrooms and its broader corporate ecosystem should be viewed in the light of a striking data-point: apparently only 3% of family businesses survive beyond the fourth generation.

The Tata group, among India's oldest conglomerates, has reached an inflection point and all engaged parties within the Tata orbit must decide where they want the group to be: the 3% club or the mortal 97% league. Crucially, outlining a succession plan will actually determine the Tata Group's future.

Rumblings in the group's governance structure came to a head after the surprise resignation letter last week from N. Chandrasekaran, chairman of the Tata Group's holding company Tata Sons.

The epi...