Inheriting the mantle: management of succession and transition in Indian family business
Family businesses in India face an uphill task in adapting to the new business climate ushered in by the opening up of the economy. Using three longitudinal case studies spanning fifteen years, Professor Sampath provides a comprehensive discussion of the problems and dynamics of family businesses in transition. Drawing upon his direct consulting experience with family organizations, he analyses their growth through different phases of being managed by the progenitors (founders) and their successors. He highlights the dilemmas faced by family organizations owing to conflicting cultures between the founders anchored in traditional value systems and the next generation, which is primarily schooled in western theories. The book discusses the ways and means these differences can be resolved and develops a unique entrepreneurial growth model for running a successful family enterprise taking into account the cultural dynamics.
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Governance Perspectives in Family Business Transitions N Balasubramanian
THE INDIAN BUSINESS FAMILY
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action Ambani ambivalence Arjun Ashok Azim Premji Bajaj Bajaj Auto became behaviour business families cognitive commodity mills conflicts consultant created culture decisions Diwakar emergence emotional entrepreneurs ethos family forum family members father feelings finance fragmentation function Goenka governance Hindu joint family identity India individual industry instant food institutions interface interventions involved issues joint family system K.V.K. Raju Kishan and Dinesh Kulwant Kumar Kumar Mangalam Birla leadership Licence Raj look Madan manufacturing marketing Marwaris membership Murli Murthy needs organization organizational orientation Pandavas Patharpur performance person perspective processes products business professional profit progenitor Rahul Rahul Bajaj Raspur Ratan Tata relatedness responsibility result role secondary family sense of belonging sentience shareholding situation social solvent edible oil Somnath sons started structure struggle succession successor tandem team Tarapur task forum task system Tata tion traditional transition Tripathi understanding Vishnu well-being Wipro