ABSTRACT
Family business has been the pillar of economic development in most societies for a long time. They are the providers of the largest number of employment and also contribute very effectively for the socio-economic development in most countries. Therefore, they are always considered critical player in any society, especially in a developing country like Nepal which is working hard for its development. Family businesses are not only the basis for socio-economic development but also drivers of innovation and creativity. They work as a change agent for development and adoption of new technologies. Like any successful business, they adopt new approaches in order to drive change and adapt to the social, economic and technological changes that are changing rapidly in today’s interconnected world. In this context, the case studies presented here provides a glimpse of how Nepalese family businesses are driving and adopting the changes as it relates to their control and governance structure because of the impact of new technology and intergenerational transition. The story of Bajeko Sekuwa, a chain of restaurants in Nepal, provides insight into how a second-generation business is changing rapidly under the leadership of the younger generation. This includes their rapid expansion within and outside of the country under franchisee model and through adoption of modern technology. The second story of Deba Jyoti Group depicts the growth and success of a conglomerate of companies throughout four generations and how the new generation of leader is driving change in the group by adopting new approach of managing people and technology. These stories reflect how family businesses in Nepal are contributing in bringing changes in business practices, models and approaches by adopting to evolving business environment around them.
