BUSINESS STUDY: The findings of a masters study has established that the ‘need for control’ is the downfall of many Asian-owned businesses.
The study conducted by Ahmed Mohammed Seedat, the director of an organisational development practice that focuses mainly on the development of family-owned business. Seedat has found that the gains made by the 1st and 2nd generation business owners are often lost by the 3rd generation.
As many as 12 of Indian businesses made it to the list of 50 most profitable family–owned businesses in Asia, excluding Japan. They include Emami, Bajaj, Godrej Consumer Products, Eicher, Symphony, HCL Technologies, Page Industries, Marico, Hero MotoCorp and TCS
In Seedat’s book entitled, “The Dynamics of Succession in Family-Owned Businesses” Seedat says that there are some successful family-owned businesses in the current uncertain economic climate that owners can learn from.