Books and MonographsRamachandran, Kavil. "Institution Building: Experiences, Learnings and Challenges", SAGE, 2016Read Description >Close >The paper explores the factors that are essential for building long-lasting institutions. Based on the characteristics of several acclaimed institutions in business and social development sectors, the paper finds that a clear sense of purpose, shared value, custodianship, adaptability, dynamic resource building and visionary leadership are the key factors that help transform organisations into long-lasting institutions. The paper also identifies the challenges to institutional building and the ways to overcome those challenges.
Books and MonographsRamachandran, Kavil.,Bhatnagar, Navneet.,Joshi, Shefali. "Emerging Paradigms of Corporate Governance and Managerial Professionalization in Family Firms", 2016Read Description >Close >Most businesses, particularly in Asia, are family controlled and managed, contributing immensely to the development of the economies. A majority of family firms start with small to mid-sized business operations. During the early stages of the firm's life cycle, managerial functions are mostly performed by members of the controlling family (Dyer & Handler, 1994). Research shows that family firms benefit due to involvement of family members, as they bring unique capabilities and resources - termed 'familiness' (Habbershon & Williams, 1999), that contribute to the firm's competitive advantage (Aronoff & Ward, 1995;Sirmon & Hitt, 2003). However, as the firm grows overtime, business operations become increasingly complex and specialized. Systems and processes are required to be established for effective management of a growing business (Chandler, 1990; Casson, 2000; Walsh, 2010). Formulation of a clear strategy, grooming of a professionalized organization and having leadership that practices high quality governance are important mechanisms to preserve family businesses.
However, most family businesses do not survive beyond three or four generations, due to their lack of understanding and capabilities to manage challenges which are unique to family businesses. Besides their uniqueness arising out of the overlap of conflicting priorities of the key stakeholders in terms of ownership, management and family responsibilities, family businesses are also on a discovery driven journey on the organization life cycle. The complex situation created by the interplay of multiple forces makes both professionalization and corporate governance quite challenging. This chapter discusses the difficulties of developing and managing corporate governance and professionalization in family controlled businesses.
Books and MonographsRamachandran, Kavil. "The 10 Commandments for Family Business", 2015Read Description >Close >The purpose of the book is to discuss all the critical challenges family businesses face and understand the phenomenon of family business better. It also analyses the reasons for the complex situation they are in, and approaches to addressing them that will enable them to create wealth, material and emotional, for themselves and the society at large. The 10 Commandments discussed in the book are :
• Commandment One – To Communicate and Build Trust
• Commandment Two - To Professionalize your Business or Perish
• Commandment Three – To Preserve and Practice Values
• Commandment Four - To Manage Ownership Challenges
• Commandment Five – To Redefine Role but Never Retire!
• Commandment Six – To Successfully Manage Succession in Business
• Commandment Seven – To Build Businesses Entrepreneurially
• Commandment Eight - To Develop Long Term Business Strategy
• Commandment Nine – To Give Back – Family Philanthropy
• Commandment Ten - To Understand ‘Togetherness’ – Role of Consultative and Compassionate Leadership
Books and MonographsRamachandran, Kavil.,Bhatnagar, Navneet. "Challenges of Collective Leadership", 2015Read Description >Close >The paper presents a model for 'Collective Leadership' i.e. sharing the highest leadership position in the family business, as a viable succession alternative in family businesses that have multiple competent next generation members. The model evolved from the findings from the case of an Indian diversified group, whose founder was faced with the dilemma of anointing a single successor or paving the road for
a successful collective leadership mechanism. The paper suggests that the process of arriving at a collective leadership structure can be facilitated by four factors. First, a high degree of cohesion among family members reinforced by support mechanisms for joint decision-making. Second, an active founder who promotes collective functioning from early in the business’ history. Third, a capacity to anticipate areas of potential conflict among family members and evolving effective forums to prevent them. Fourth, a collectivist culture instated in the family based on the strong interpersonal bonds among members of the leadership team.
Books and MonographsRamachandran, Kavil., Bhatnagar, Navneet. "Professionalisation Efforts at Aurobindo Pharma", 2014Read Description >Close >This book chapter describes the professionalization challenges faced and overcome by Aurobindo Pharma, an Indian family-controlled pharmaceutical firm. Aurobindo grew from a mid-sized company to a global multinational in a span of twenty-five years. The firm implemented two distinct phases of professionalization — the first improved its operations and the second enhanced its corporate governance.