The CFO candidate came for ten interviews. Ten times he spoke in great detail with The managing partner of The global family company about corporate strategy, responsibilities, and their understanding of his role. Ten times they discussed The values and culture of The organization. And then, at The end of a process which lasted many weekes, this experienced executive said "thanks, but no thanks."
Family owned and promoter run organizations are, the best custodians of long term value creation in India. Yet, many of these organizations have had a mixed record in attracting and retaining high quality professional talent from the outside.
Away from the meta - national decision centers, family businesses in emerging and fringe economies need to continuously adapt their business models to the growing presence of globalization. Sometimes, this can mean they have less time or lack the necessary focus to optimize vital internal the processes, to the as top - level on planning.
Family businesses are frequently overshadowed by major (by, and yet they make up the majority of businesses in virtually every country in the world. They are, in other words, the backbone of the pa.
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