Professionally manged companies are more result oriented than family run compani

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  1. pramodgokhale profile image45
    pramodgokhaleposted 5 years ago

    Professionally manged companies are more result oriented than family run companies? Yes it is.

    In India we have L & T ( Larsen and Toubro) a well established engineering giant spread operation across the globe and pride matter.This company has no ownership in general terms. Incorporated long back by Danish Engineer Mr Larsen and within six decades is known as top quality manufacturer , engaged in core sector, infrastructure projects.They built expertise by experience and never compromised on quality and best management practices put them on international scene.Indian and Japanese corporates tried to takeover but failed due to opposition by share holders.

  2. SidKemp profile image93
    SidKempposted 5 years ago

    I don't think the answer is as clear as the one example of L&T would suggest. I think each case must be examined individually.

    My own consulting work has often focused on family run companies. I like to say that if you put "dysfunctional family" together with "family business," you get a dysfunctional family business. And that is, all too often, true.

    But many American industrial (and software) giants have run way off course, too. The entire auto industry, steel industry, and more, went in the wrong direction from 1945 (the end of WW II) to 1980, when some began to change course through Total Quality Management. Microsoft has made a huge mess by using one technique of employee evaluation that is an absolute disaster.

    I recommend you read Built to Last by Collins and Porrass to see what can make a company great for a long time.

    1. pramodgokhale profile image45
      pramodgokhaleposted 5 years agoin reply to this

      Sir, i appreciate your suggestion to study, Tatas  Gem of India, but not all family run businesses ,insulated from global competition for long now they are not able to compete MNCs ,high technology companies, capital lost.

  3. AlexK2009 profile image92
    AlexK2009posted 5 years ago

    You have a small sample problem and you fail to give more examples. Also what do you mean by "no ownership in general terms"

    Family owned companies are there to provide for the family.  So once they are secure they can afford to  be less results oriented but have to ensure sufficient profit.

    PLCs are run to benefit shareholders and much of the evil of corporate capitalism arises because no  legal weight is given to the rights of other stakeholders. As a result short term result orientation is  often prioritised over long term  profitability.

    1. pramodgokhale profile image45
      pramodgokhaleposted 5 years agoin reply to this

      Sir, Western capitalism is century old and economies are matured, India's case is different. Indian capitalism was never creative and enjoyed government  incentives,failed and loss of capital

 
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