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. "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. "The 10 Commandments for Family Business", Sage Publications, 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. "Professionalization 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.

Books and MonographsSharma, Pramodita.,Sieger, Philipp.,Nason, Robert S.,Gonzalez, Ana Cristina., Ramachandran, Kavil. "Exploring Transgenerational Entrepreneurship: The Role of Resources and Capabilities", Edward Elgar Publishing Ltd, 2013Read Description >Close >Transgenerational entrepreneurship, as a discipline, examines the processes, resources and capabilities that allow family enterprises to create social and economic value over time in order to succeed beyond the first generation of business owners. While tangible resources such as financial and physical capital are certainly important factors in the long-term success of a family-run business, this book focuses specifically on the role of intangible resources and capabilities, which are less easily quantifiable but equally vital. Drawing insights from in-depth longitudinal studies of twenty-six family firms in twelve countries, the contributors discuss the critical role of intangible assets such as values, virtues, tacit knowledge and learning, professionalization, internal and external social networks, and reputation. Each chapter includes both a case study that serves as a practical illustration of a particular topic as well as a discussion of the theoretical perspectives and broader implications. Featuring both contributors and case studies from across the world, this volume provides a truly global approach to the study of transgenerational entrepreneurship. Professors and students of business and management, entrepreneurship and family business studies will find this book a fascinating addition to their libraries, as will family business owners, consultants and researchers.

Books and MonographsRamachandran, Kavil. "Entrepreneurial Case Analysis - Vimta Labs - Book chapter in, Entrepreneurship: a South Asian Perspective, (Editors - Kuratko DF and Rao TV )", Cengage Learning India Pvt Ltd, 2012
Books and MonographsAu, Kevin.,Craig, Justin B., Ramachandran, Kavil. "Family Enterprise in the Asia Pacific: Exploring Transgenerational Entrepreneurship in Family Firms", Edward Elgar Publishing, 2011Read Description >Close >This book analyzes the findings reported in the first Asia Pacific summit of the Successful Transgenerational Entrepreneurship Practices (STEP) project. Researchers in Australia, China, and India discussed eleven in-depth case studies to shed light on the challenges that business families and family businesses faced in continuing and extending their entrepreneurial capabilities across multiple generations. Based on a common research framework from STEP, each chapter introduces key findings and challenges existing theory, offering answers to two broad questions in the Asia Pacific context: How do business families and family businesses generate and sustain entrepreneurial performance across generations and how does entrepreneurial performance relate to the continuity, growth and transgenerational entrepreneurship of business families and family businesses? In doing so, the authors look at key issues faced by family business including dealing with communication issues across generations, resolving conflict between siblings, preparing and luring younger generations back to family business, and professionalization of business. The chapters go beyond the succession and governance challenges and explore the processes and outcomes of entrepreneurship in the Austral–Asian family context.

Books and MonographsRamachandran, Kavil. "The Shakti Group: Keeping the Entrepreneurial Spirit alive in the Second Generation", Edward Elgar Publishing, 2011Read Description >Close >This chapter chronicles the entrepreneurial journey and growth challenges of the Hyderabad based Shakti group. Managing business diversification and entry of the second generation in a mid-sized family business are some crucial aspects that this chapter highlights. The case aptly captures how family conflicts and differences can be hazardous for business growth. Suggestions provided for developing family governance mechanisms serve as a template for other family businesses.

Books and MonographsRamachandran, Kavil., Rachna, Ward, John.,Waiker, Sachin. "GMR Group - A case of Serial Entreprenuership", Edwar Ed Elgar Publishing, 2011Read Description >Close >This chapter details the growth of the Bangalore based GMR group that is a major infrastructure business in South India. The chapter describes the deep family involvement in not only managing the business but also in establishing new standards in family governance. The founder's efforts in developing role clarity and evolving the business into a professionally managed business are described at length. The chapter describes the entrepreneurial culture of the group that spans across multiple generations and how the group even converted failures into opportunities.

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