Here, Lalaji, the business owner, calls the shots. Here, every day is an event; every commitment may not really be a commitment; every promotion may not be a career ascent and every salary hike mean more money in your bank account. Lalaji's strategies are not may not based on the size of his business, its market share or the competition but often on the whims and guidance of sycophants, advisors and friends. For a 'good' employee, working in a Lala company is akin to swimming in crocodile-infested waters-tread cautiously or become the next casualty. Drawing on his intimate study of several large and small family businesses, Rajiv Gupta provides a hilarious, no-holds- barred account of how things work in Indian family businesses. Here's a survival guide to help you navigate the tricky terrain of Lala Land.
Rajiv Gupta was born in a business family and is an alumnus of BITS Pilani, FMS Delhi, and Harvard Business School. In a career spanning thirty years, he has worked with both family- owned businesses and global multinational corporations. In his role as national head of sales, marketing and channel management across diverse industries, he appointed and worked closely with hundreds of dealers, each of which was a family run enterprise. The conversations at home, within his extended family, and with dealer- owners, exposed him to the world of family business intimately. He is passionate about the unfolding of human potential
If YOU ASK people interested in business and business studies for a list of companies that have, according to them, grown to be regarded as institutions in India-characterized by longevity, scrupulous ethics, public admiration, and resilient business practices-then that list might mostly include professionally managed companies. Those, too, will be few such as TCS, HDFC, Kotak Mahindra Bank, Marico, and Biocon. Why do family-managed businesses not come to mind? It is a question worth pondering about. The truth is that India Inc. lacks serious players who are widely regarded as business institutions, i.e. the Lal Qila or Taj Mahal of corporate India! This is paradoxical because India Inc. comprises largely of family-managed enterprises.
A family business, like any other, aspires to grow. The founders wish that the future generations will protect the family legacy, honour and wealth, multiply it manifold, and build a formidable reputation in society.
If one looks at a large sample of family businesses, there will be many expected winners who had a head start. There will also be those who, despite such inherent advantages, did not reach their potential. On the other hand, there will be some underdogs who were once ignored at social gatherings due to their modest status, but later rose to build phenomenal business empires. One might discover that beliefs, values and conduct of owners and their core team has an important correlation with business outcomes. The business outcomes can be growth in top-line, bottom-line, and reputation.
While this book is targeted at employees, it can serve as a mirror to business owners and their coterie to help them see how their behaviour is seen by others. This might help them answer the question they often ask, 'Why can't we become like Tatas, Unilever, Godrej, M&M or Marico?' Or 'Why can't we attract top talent when we are willing to pay higher salaries than them?'
An unsuspecting employee does not know what to expect when he is signing up to join the type of family business described in this book. The ones working at such set-ups are unable to process what's going on. They wonder if whatever is happening to them, is an exception or a rule in such companies. Most importantly, they cannot decode the compulsions, motives, and insecurities of owners and their henchmen behind such conduct.
Through anecdotes and caricatures, which may appear irreverent, the message of the book is loud and clear for both employees as well as owners.
**Contents and Sample Pages**
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