Past Issues

As businesses transition from being entrepreneurial to being professional, professionalization assumes great significance. However, there are several challenges in terms of the processes and governance mechanisms. The success of professionalization greatly depends on the leader’s clarity of role and structure of the team to whom the business task is delegated and his/her terms of engagement with the team. The authors examine the challenges that professionalization process poses to the leadership, the business and the family.

From the days of a few business houses controlling the economic and industrial activities of the country, we have come a long way. The liberalization of the economy in 1991 and the ensuing economic reforms saw the sprouting of several standalone family businesses. The Indian family businesses have adapted well to the changing business environment and continue to contribute to the country’s economy in a big way.

The Swiss economy, very much like the Indian economy is shaped by companies, large MNCs and SMEs, which owe their...