Day 2: Maneeshi: Panel discussion on “Entrepreneurship and Family Businesses as growth engines”

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Ms. Huda Jaffer –  ‎Lead Designer at SELCO Foundation

Ms. Huda Jaffer mentioned that the luxury to choose between family business and a corporate firm is diminishing significantly. The de-centralized businesses play their part in training individuals in a different perspective compared to a large corporate which has established processes. She concluded by saying aspirations of individuals are shifting dramatically and may not show interest in running a business.

Mrs. Renu Jayaram – Managing Partner, Jaydev Motors, Founder, POWER, Manipal

Ms. Renu Jayaram asked students to think beyond families in relation to ownership. She highlighted the fact that you can always groom your children but in the end, you should let them find their passion and choose what they want to pursue. She concluded by saying if you are joining a firm, you must consider who the founders are and account for their leadership style.

Mr. Arun George – CEO, Founder, Avantgarde Innovations

Mr. Arun George shared his interest in developing a network of global entrepreneurs who can address the challenges and opportunities in India. He advised the students, to be honest with yourself and take the plunge because what matters is what we want to do and the impact we want to generate. He concluded by saying the scope of disruption in family businesses is minimal and must look into the path that you desire.

Mr. Anand Ramachandran – Co-Founder, Fantain Sports

Mr. Anand Ramachandran said that succession of a business considers ownership and control, where usually families retain ownership or at least a part of it and control of the business is given based on meritocracy. He discussed how family run businesses is used as a euphemism for unprofessionalism, which on the contrary may not always be true. He also cautioned that as a professional there will be a limit to grow in a business if it has been run by the family for generations. He concluded by advising students who have family businesses, to contemplate on whether they can grow in the business or as a professional, keeping in mind your own passion.

Mr. Skandan – MD, Eximo Tek India Pvt. Ltd.

Mr. Skandan stated that ownership of a business can be given to some professionals, which can be run by them if the family members are not interested. He said that an individual’s passion is more important which has to be channelized in the right direction. It is crucial to identify a person with the right passion for leading an institution to grow. He concluded by advising students to look out for opportunities and not be concerned about joining startups.

Mr. Murli N – Regional Leader-South Asia, Hydratight

Mr. Murali N began by saying that the legacy you leave behind is important which can be done using ideas to create and deliver in a business or a corporate firm. He said that as a business owner you need to make your children demonstrate their passion before inducting them into the business or else they may not perform and grow in the environment where people you work with are not aligned with the same passion. He concluded by saying that working in a start-up would give you a rich learning experience and more opportunities to grow.

Mr. Abhishek Ranjan – CSO, BRILLIO

Mr. Abhishek Ranjan said that choosing between family business and a corporate job is a hard decision to make but can be done. He discussed how a business can be run by a combination of family members and professionals. He said that any institution must keep pace with disruption to remain relevant in the industry and that companies have separate cells to determine policies and hierarchy of the company. He concluded by saying that you must follow your dreams in your company and not let your ideas die.

 

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