How business families create lasting value...
Once I was sitting with the Chairman of a leading financial institution, who was also sharing a default of a leading soft-drink company. During our discussions, we exchanged views on the problems being encountered by the said soft -drink company. The Chairman of the financial institution pointed out that the soft -drinks company had seen three CEOs come and go within a span of just one year. The point being made was that three CEOs have changed in the past one year and by virtue of this discontinuity, it was very difficult to apportion responsibility and accountability on individual CEOs in this revolving door scenario. Both of us agreed that in such a scenario, the newer person has all the ways to get out of commitments. And that is what had exactly happened three times in a row. It is extremely difficult to visualise such a predicament being faced by a financial institution or any other stakeholder in a family-owned company. For more information on IIPM Editorial Article, please click here...,
Source: IIPM, 4Ps, B&E
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