“Efficiency is doing things right;

effectiveness is doing the right

things.”
- Peter Drucker

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Anant Bajaj started off as a salesman for fans and appliances in 1996 In a family-run business for the retiring Anant Goenka, son of Harsh Goenka (chairman of RPG Enterprises)
and grandson of the group’s founder, Rama Prasad Goenka after
and presently, is responsible for engineering and projects business
and key decisions for all segments at Bajaj Electricals Ltd. He is also the
entrepreneur, retirement isn’t just a matter having completed his bachelors at the Wharton School had to
director in four more group companies (among the many hats he of not showing up to work the next day. prove himself at every level and after joining CEAT, he did
just that by pursuing roles in line functions and today,
dons). Clearly, the great grandson of Late Jamnalal Bajaj, the founder
of Bajaj Group and son of Shekhar Bajaj, has come a long way. It is seeking an answer to the obvious harbours no regrets.

Derive learnings from
the earlier generations
and fusion it with the
modern aspects...
Carrying defining charac-
teristics of the legacy is
important while creating
one’s own identity in the
process. In a family-
owned business, I believe
views. question, “Who’s next?” Corporate It is vital for the older my learnings to im-
prove practices in our
I started working when
India’s leading successors tell generation to “let go” at
the right time… own business. It gives
I was 19… Viren Naidu that a robust “Letting go” involves let- you a firm grounding,
as in a family business,
It is believed that rigor- ting go of the business
ous training from ground succession plan is the key to leadership position and a family member is of-
ten viewed differently.
level is essential to be
successful, especially for a
their success also of overall control of
the family and its direc-
member from the family. tions. The older genera- Healthy conflicts in
Starting early in business tion must clearly plan the business will get re-

that core values are main-
tained more effectively as
opposed to a non-family-
managed business. Also,
the risk-taking ability is
greater. Succession plan-
ning at Microsoft and In-
fosys has been notewor-
thy, according to me. I
also believe that non-fam-
ily members (read: an out-
side board of advisors)
and especially, experi-
enced experts from differ-
ent businesses bring
about a broader horizon
of thinking and under-
standing things in a larg-
er unbiased way; they
can always give
very neutral
To ensure successful succes-
sion planning, it is imperative
to be fair to all individuals
concerned…
Some of the key characteristics of
effective successions are regular
interaction between the different
generations wherein experiences
are shared; there should also exist
a willingness to evolve and be in-
sync with the various market
trends. Ideally, members who join
their family business should ac-
quire work experience prior to
joining. Understanding responsi-
bility vis-à-vis accountability can
be done when one has worked out-
side the realm of one’s family
business, for and under someone
else. I did an MSc in international
marketing management from the
University of Leeds in the UK. I
did an MSc in industrial relations
& HRM from the London School
of Economics (LSE) and worked
for three years for Capital
Staffing, which is a HR company
based in London.
HEIR-RAISING
has mostly benefits, as it ownership structure be- stricted if a younger
gives more chances to learn tween siblings. We are brother, out of sheer
various aspects, where now seeing more and more respect, doesn’t chal-
making errors creates and professionalism being lenge his elder broth-
eases the learning brought into family busi- er’s decisions when
curve. From my per-
sonal experi-
ence, I went
through rig-
orous train-
ing from
ANANT BAJAJ,
executive director,
Bajaj Electricals Ltd.
TALES Anant Goenka,
deputy managing
director, CEAT, a
group company of
RPG enterprises
nesses (e.g. look at the Mu-
rugappa Group). I worked
with three different com-
panies (Accenture, Mor-
gan Stanley and Hindus-
tan Unilever) before I
needed...
There are some very
fundamental values that
are different in a family
and in a business. A
family is all about equal-
ground zero up- Son of Niranjan Hiranandani, MD and founder of the Hiranandani Group of joined the family business. ity, fairness, emotions
wards and started Companies and grandson of Padma Bhushan recipient Dr. LH Hiranandani, Darshan These experiences gave and preservation. A
working since Hiranandani proved to be a successor with an edge. Son of GC me the exposure into how business is about the
Having some of the great or- self-meritocracy, ration-
college. adopted Baidyanath as Burman and
My dad and I understand each cession planning case studies. ganisations work. ality, ROI, etc. These dif-
his second name (his earlier grandson of RC Bur-
other’s differences… man, Amit Burman has tak- I have used ferences in the funda-
surname was Sharma), he is Effective successions are those that Managing the organisation mental values can cre-
facilitating brand recall. Little did en the legacy forward and made
make sense for both - the individual(s) through the Dubai recession was a it reach to greater heights. ate challenges. Disputes
grandfathers Pandit Ram Dayal Joshi Sharma who will inherit the ownership of the learning experience… that arise in the fami-
and Vaidya Ram Narayan Sharma know that their company and the company that re- In my view, a successor who has to be The new generation was We had ly can spill over
grandson, Vikrum would lead their company to encouraged to set up busi- identified the at work.
quires good management to succeed. groomed, must take up a series of
newer heights. ness ventures outside… need to divorce owner-
If you are not a passionate successor, smaller independent charges. In my
try handling the bit of the business case, I was independently allowed to In 1997, Dabur initiated a ship from management
Be open to suggestions from that excites you and get a professional decide on the go-kart track with guid- study and redefined the roles very early…
the older as well as younger CEO for the rest. Also, the previous ance from my uncle. After university of family members. The While the Burman family has
generations… generation should not feel hurt if the in the US, I’ve been working independ- study concluded that in order decided that no member will
Respecting dignity of labour and next generation does not want to in- ently on my project in Dubai. Manag- to attract, hire and install an be involved in the manage-
accountability, which covers as- herit the running of the business but ing it through the Dubai recession has experienced professional ment of the company, the
pects like efficiency at work, fi- wants to do something else. In my par- been a fantastic experience. This has management team to lead the chairman and vice-chairman
nancial management, punctuali- ticular case, I’m passionate about given me the understanding of company, the family mem- will be Burmans. These two
ty, effective vertical and horizon- projects. When I was 17, I built one of setting up smaller organ- bers will have to leave execu- posts will be rotated within
tal communication between dif- the best go-kart track in India. I’m isations and being re- tive roles. There was a grow- the four branches of the Bur-
ferent individuals and depart- now completing a residential building sponsible for some- ing realisation within the mans by the ‘family council’;
ments of the organisation are in Dubai. Whether it is real-estate de- thing from end to Burman family that as we ex- and there will never be
vital for a person looking at velopment, hotels or factories – I’m end. Most important- pand, there may not be more than four family
becoming a successor. passionate about executing challeng- ly, it has given me enough space within the flag- nominees on the 12-
Also, in a family-run ing projects. On the other hand, my fa- the confidence to ship company for the new member board. Dabur
business, since we ther is known for building townships. create and run an or- generation. So, the new gen- had also hired an ex-
know we are the own- We understand this difference and re- ganisation, which is eration was encouraged to set ternal agency when AMIT BURMAN,
ers of the business, alise that I won’t only be building absolutely impera- up independent business ven- it sought to hand vice-chairman, Dabur
our motivation and townships and he is comfortable and tive. It was the best tures outside. The family has over control to India Ltd
commitment levels happy about it. The biggest advantage training I could four representatives on the professional
are on an all-time of running a family-owned business have. board and there is a separate managers.
high. There are VIKRUM BAIDYANATH, is having other people in the family family council that reviews viren.naidu@
times when we hap- president and CEO, the strategy of timesgroup.
take off some work-load. I try to fill-in
pily work seven Baidyanath Group Dabur India. com
for my father under a few occasions. It A SCENT
T
days a week. We
are able to tap our
is always nice to have a helping hand LIVE CHA
and be able to implicitly trust some- DARSHAN HIRANANDANI, Industry expert: Jay Makhijani, business development
individual talents body working with you. I feel the Am- director, Hiranandani Group
and potential so that head, DiA Precious Jewellery Pvt Ltd Topic: Luxury brands management
banis and the Birlas are excellent suc- Date: December 15, 2010 Time: 3pm-4pm
each of us could focus
on what we are good at. Log on to chat.timesascent.in today!

The ‘lead-from-the-front’ face of New India

®®
POWERED
nlot sys
IInf BY INTELLECT
DRIVEN BY V A LL UU EE SS

Hi, Iam Arjun (‘lair.And it ’s been a great

reat lnfosys,one of
At lnfosys, ofour
our company
companyvalues
values is
is to lead
leadby by The work
The work IIdo here
here sets the benchmark
benchmark for for the Leadership
Leadership is
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our second
second name, IIwould
would say.
say. So are you going to stand up and lead? Or just
II years at Infosys. example — —som
something
ething we all take very seriousl
seriouslyy,, restof the world,
world, and
and we dodo this
this by yredefining
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\Mio wouldn’t? It’s a privilegedpositionto be in. the standards in our businesses and transactions.
the world over.

At At
Infosys,we believe that the only way to bring about a change for the better
is to lead from the front. This philosophy has taken us to the forefront of the new
economy and made us the partner of choice for leaders from other industries,
across the world. That’s the reason,we are powered by intellect and driven
by values; and we believe that our organization is the face of New India.
Infosys is a world leader in consulting and information technology services and
partners with Global 2000 Companies. Our offerings include business &
technology consulting, application services , systems integration, re-engineering,
custom software development and maintenance. With these services, l nfosys
enables its clients to deploy technology for business transformation.
The Enterprise Solutions (ES) practice at Infosys has an enviable track record
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(SEM , PLM,GRC), Netweaver components (ER Xl, BI,WAS, MDM, Ml), IS- Oil
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We have positions open across Infosys development centers in Mangalore,
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Please e-mail your résumé, stating date of birth, contact number and personal
e-mail address. Mention ‘Role Technology Years of experience Location
— — — — — —

process improvement objectives. And Infoscions in the ES practice, partner
with large global corporations to define, optimize and align their business &
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To continue the challenging legacy of achieving excellence in business &
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one packaged application mentioned. Understanding of business processes, blue
printing and knowledge of industr y verticals with change management experience
is preferred. You should hold a BE! MBN CN ICWA degree from a premier
institute with 4— 12 years of experience in a large software/consulting
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expertise in implementation! maintenance/ upgrade! roll-out with any of the
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Campus Solutions (Student Admin), PeopleSoft Administration, PeopleSoft AA
pps of interview’ in the subject line (for e.g., Consultant — —SAP FIt CO — —10 years
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Candidates who have been through our selection process in the last 9 months
need not apply again.
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