Governance Practices in Family Enterprises: A Study of Selected Indian Family Enterprises
By: Maiti, Sajal Kr
Contributor(s): Majumder, Amit | Bera, Rampada
Material type:
ArticlePublisher: 2015Description: 601 - 626Subject(s): Family Governance | Family Business | Family Enterprises | Entrepreneurship | Eleventh Biennial Conference On Entrepre | Biennial Conference PapersOnline resources: Click here to access online
In:
Eleventh Biennial Conference on Entrepreneurship/ Edited by Sasi Misra, Dinesh Awasthi, Ganapathi BatthiniSummary: The word (good) governance is a current buzzword not only in management literature but also in every walk of life. It implies how an organisation is directed and controlled under a set of mission, values, and philosophy (Cadbury, 1992). But unfortunately, over time, the common investors all over the globe have suffered a lot in the hands of the greedy managers and scams like Enron, Adelphia, Tyco, Worldcom, Xerox, Paramalt, and Satyam have shattered the trust in the very mechanism of corporate management and governance. However, despite a lot of initiatives had been taken around the world in the form of codes/laws for ensuring good governance for corporate sector, the issue of governance practices of family enterprises operating in India had not been discussed in detail. But, in view of the contribution of the family enterprises to Indian Economy over the years, a renewed interest on their governance mechanism is the need of the hour. Family businesses have many things going for them - they tend to be flexible, reliable, and proud, they can think long-term, have a strong culture and their people are committed. But they can also carry a daunting set of disadvantages - they can be...
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The word (good) governance is a current buzzword not only in management literature but also in every walk of life. It implies how an organisation is directed and controlled under a set of mission, values, and philosophy (Cadbury, 1992). But unfortunately, over time, the common investors all over the globe have suffered a lot in the hands of the greedy managers and scams like Enron, Adelphia, Tyco, Worldcom, Xerox, Paramalt, and Satyam have shattered the trust in the very mechanism of corporate management and governance. However, despite a lot of initiatives had been taken around the world in the form of codes/laws for ensuring good governance for corporate sector, the issue of governance practices of family enterprises operating in India had not been discussed in detail. But, in view of the contribution of the family enterprises to Indian Economy over the years, a renewed interest on their governance mechanism is the need of the hour. Family businesses have many things going for them - they tend to be flexible, reliable, and proud, they can think long-term, have a strong culture and their people are committed. But they can also carry a daunting set of disadvantages - they can be...
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