I was invited to be a speaker on family business for the family business owners at Cebu last weekend. My topic was legacies in family business and what families need to do, to ensure that they can sustain their legacies.
While the talk was well received, I was fascinated at the cultural similarities in the ways families behave. I found remarkable parallels that one could derive between Indian families and those in the South East Asia region. It was an honour to be speaking in the same forum as Her Excellency Leni Robredo, The Vice President of the Philippines and Joni Aboitiz, a fifth generation family member.
Was touched by the warm reception and the fascinating experience of addressing a packed hall of entrepreneurs from all over South East Asia!
Ok I must confess that this piece in BusinessLine was somewhat not quite recent, but highly overdue.
This took some time to get the research, but I consider this as a fascinating story of how one family patriarch, Y Hamied of Cipla has shown vision in ensuring the longevity of his firm.
This is not new, and the Japanese have been doing this already for centuries, resulting in perhaps some of the oldest firms in the world still being Japanese. But the fact that this has been done in India within the purview of the law, to secure the single largest shareholder is a first.
Apologies for the late response, was terribly tied up with a lot of stuff, and lots to write about, so let’s get started!
I maintain that the Tata sons-Cyrus Mistry matter is a family issue and my opinions in the Economic Times. I have given my reasons why this matter is all about values in this article.
I have co-authored a case on this matter, which I have used jointly in the 2 year MBA program with fascinating results. The students were expected to understand the viewpoints and pressures of all the stakeholders! Very valuable learnings and a whole lot of fun…. especially when the Students representing the community decided to move away from the script, and staged a walkout from class…. We had to go running after them to continue the rest of the class!
Going further on this, my other article in Forbes Online (in the thought leadership Section) talks about the learnings from this, for family businesses. After all, if this can happen in the most reputed family firm in the country, amongst probably the most qualified and competent people around, what have you done to prevent this from happening in your family firm?