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For the leaders of the family managed businesses, home is the b-school. They learn life
lessons at home. They also have role models at home.Usually fathers are the 'talent
managers', due to obvious reasons, while mothers focus on developing the emotional
intelligence. Grand fathers are revered as role models while the grandmothers generate
human bonds & develop social skills. For many business scions father and uncles are the
'go-to men' for domain knowledge & for crisis management, mother is a soft-skill trainer
and the grandparents are teachers who nurture ethics and family values.
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Sibling Rivalry Siblings & cousins not only provide benchmarks for performance Try Premium Free
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measurement but also put peer pressure by raising performance standards through their
Prof Dr Ajit Patil
achievements. Mumbai,
Higher theIndia Following
sibling rivalry higher is the performance. They introduce healthy
Management Practitioner, Consultant, Professor 2,371
competition
& Writer & teach how to compete while you cooperate with each other.81Business
167
scions
89 articles
develop lobbying skills while outfoxing others in the sibling rivalry.
Safety Net The extended family lays the support net which helps while getting into new
businesses and ventures. They provide psychological support & also support in trade
relationships.
In Birla family, fathers spent a lot of time with their children, educated them well, provided
them with the required exposure at right time. They ensured that their next generation would
go through the rigour, labour & pains of development. Mr. Aditya Birla didMessaging
it by making his
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son, Kumarmangalam pursue a professional degree, CA, along side his under-graduation Try Premium Free
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degree, B Com. Kumarmangalam admits today, that this decision was the best decision
Prof Dr Ajit
imposed upon Patil
himMumbai,
by hisIndia Following
father. The academic pressure crushed him hard but he came out as
Management Practitioner, Consultant, Professor 2,371 81 167
a &winner
Writer with enhanced stamina & persistence. It increased his tenacity and ability to
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perform under huge pressure & expectations. Such upbringing is Kumarmangangalm Birla's
real wealth & his challenge is how does he take this legacy forward as a father.
01:25
Great leaders take out the time for their kids rather than giving any excuse. It is their
investment in the future of their company and securing the future of their mission. Such
investment pays off. Great leaders shoulder their social responsibility of bringing up socially
responsible kids & emerging leaders. They treat fatherhood as a societal responsibility and
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create roles models for the society by raising the bar for other fathers. Ajay Piramal had to Try Premium Free
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join the family business immediately after his MBA (MMS) from Jamnalal Bajaj (JBIMS) in
Prof Dr Ajit
Mumbai. The Patil Mumbai,&India
untimely Following
sad demise of his beloved elder brother, Ashok, passed on the
Management Practitioner, Consultant, Professor 2,371 81 167
leadership
& Writer baton at very young age. The upbringing at home helped Ajay Piramal to become
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what he is today.
Leaders of the family managed businesses are measured against huge benchmarks. They
have to fight against the law of averages which predicts against their performance because
they are the sons of the successful fathers & grandfathers. Ambanis, Singhanias, Piramals,
Birlas & other family managed businesses have to maintain this tradition if India has to
become a superpower. Outliers in their family can put their business empire in danger.
This explains the mega success of the industry leaders from family managed businesses like
Mukesh Ambani, Kumar Mangalam Birla & his father, Rahul Bajaj, Robson Walton etc. The
deficit on this account can put the person in difficulty. The tenure of the leadership depends
on their ability to keep themselves up-to-date and relevant by adding value. The official
position becomes redundant for such leaders.
Cursing own profession at the dinning table Some parents seek my advice to convince
their children to get into their professions but kids don't want to do that. Parents feel they are
fools. I educate parents & tell them that the are the source. They keep cursing their
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profession on the dinning table or in the drawing hall discussions. Kids listen to it carefullyTry Premium Free
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& form their opinions against that profession.
Prof Dr Ajit Patil Mumbai, India Following
Management Practitioner, Consultant, Professor 2,371 81 167
& Writer
89 articles Business families teach their kids the world is
same everywhere, seeking opportunities is
important than just complaining.
Our Story Our only daughter Supriya always makes us very proud parents. She secured
Maharahtra Governments high school scholarship, secured 96% in SSC (10th grade board)
exams), & 90% in 12th grade exam in Commerce. In 2016, she secured the Gold Medal
from Mr. Mukesh Ambani, during convocation for securing the first rank in the University
of Mumbai undergraduate degree, Bachelor of Commerce, B Com in 2016. She was selected
for internship in very tough selection process, by the Swiss Bank & did her internship at
Credit Suisse Asia Pacific office in Hong Kong, China. It was proud moment to see her
sitting on the 99th floor of the 107 storied tallest building in Hong Kong which is the
commercial capital of Asia. Now she works with the Tata Group company, Tata Capital &
recently identified as the 'Emerging Leader' at just 23 years of age. Recently she scored 730
marks in her GMAT score which can take her to Harvard or Wharton business school for
sure. Her strong bond with socially commited Tata group will make her come back even
after her MBA in America after a couple of years.
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completely. We were so much happy to see our daughter being loved equally at her school,
college, friend circle & now in the Tata group where she works. Arti & I always inspired her
to do more & match her potential. We made her realise how she was a gifted child & how
we choose only one child so that we can concentrate our parental efforts on her in spite of
our busy corporate & academic careers. Arti & I always knew that the God gifted us world
class talent & we have to take her where she belongs. We always knew that the God chose
us as the parents of the corporate leader, India will be proud of. Now it is matter of her
efforts, our guidance & family's sacrifice supported by Ganapati Bappa's blessings.
About the Author: Prof Dr Ajit Patil was awarded 'Top Voice on LinkedIn - 2017'. He is
a Management Writer; Marketing, Business Development & Retailing Consultant.
He conducts Management Development Programmes; trains & coaches Sales &
Marketing teams. He has been teaching MBA students in India & overseas for over
18 years. He can be reached at ajitpatilmumbai@yahoo.co.in
Supriya, with her precious gift after securing a Gold Medal in the Mumbai University.
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ManagementNice photo but it rare
Practitioner, to see Papa
Consultant, lion having so much patience with his little one.
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