Indian CEOs must behave as if they hold their companies in trust
Most people assume that ‘professionals’ cannot include members of the controlling family. So, by definition, the Tatas, Ambanis, Singhanias, Wadias, Goenkas, and others belonging to the families of the founders of the business are not counted as professionals. This is a false argument. Family inheritors many times are as bright as outsiders. They can afford to take time and spend money to earn the best qualifications. They might even gain experience for some years in the best consultancy firms or other companies. Many second or third-generation inheritors today are highly educated, experienced and capable.
Many outsider recruits to family businesses are not satisfied with high-sounding designations and compensation packages. They want to run the whole company. So they leave when they find that the top slots are reserved for the family. Even the few family-run companies that place outsiders in top positions have a control mechanism. They do not for long tolerate performance slippages. All enterprises, whether businesses or non-governmental social organisations (even the business of politics!), are started by individuals. Each of them has a dream, a vision, and a passion
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