Now, when the mist of uncertainty is slowly lifting from the global economy, India has sounded the bugle for a new world order. Most Indian businesses have now announced themselves to the world with major acquisitions in crucial markets.
Their success at the time of the credit crunch that has held the world in detention for the past few years is a lesson in resilience and equitable balance.
There are strong signals that India is poised for tremendous growth and that the time is ripe for global businesses to harness the potential of this market. Successful organizations around the world today, be they long-established family businesses or young, energetic enterprises, are eschewing short-term gain in favor of sustainable growth, strategic acquisitions and solid succession planning.
This issue of Exceptional India speaks to some of the people leading these companies, asking them how they achieve success over the long term.
The cover story in this edition is that of a century-old Indian family-owned business, the Murugappa Group, which presents an interesting case in succession planning and reinvention. A. Vellayan, the group’s Executive Chairman, tells us how the company has made this transition with little disruption to its culture or ethos.
In the same context, Ernst & Young Human Capital Partner N. S. Rajan shares an expert’s point of view on the evolution of family-owned businesses, providing valuable insight into the interdependence of family, ownership and management, while rooting for growth.
We uncover the mysteries of the Indian market in our “Doing business in India” feature, authored by Farokh Balsara, Partner and Strategic Growth Market Leader for the country. This article offers crucial information on how to get your business strategy right in India.
We also speak to Bill Ford, Chairman of Ford Motor Co., about how forward planning saved it during the recession, and look at how “Intrapreneurship” is keeping innovation alive in even the largest corporations.
This is just a small taster of what’s inside this issue of Exceptional India — I hope you find plenty to inspire and entertain.
| ||Julie Teigland |
Strategic Growth Markets,
Ernst & Young