The July-August 2014 issue of The Smart Manager focuses on family business. Despite just about 13 of family businesses surviving to the third generation and only 4 surviving to the fourth, the prospect of being a part of, or leading a family business continues to be more attractive than other career prospects that offer defined growth and assured returns. The issue explores the facets of succession planning, ownership control, and wealth management that constitute the core of a family-owned entity. Further it also tries to understand how easy or difficult it was for the younger lot to step into the older generation’s shoes. Nadia Chauhan, Punit Lalbhai, and Lara Balsara share their experiences. This issue also features an interview with Harvard Business School’s J Bruce Harreld and Stephen P Bradley on the need to cross borders diligently, and Christian Bason’s article on co-creation in governance.