World biz and more as seen from India

Thursday, July 28, 2005

Take what you get from your family

Usually when people mention family business, a picture of “mom & pop store” appears in their minds. With the rise of India Co the idea of family business is becoming quaint.

But lets see which companies might not have become what they are if the next generation would have given up on their family business

Wal-Mart: How can one forget this giant !! This company was started by Sam Walton in 1962 as a family business and currently has 1.25 million employees and 4000+ stores around the world. The family owns 38% of the company stock.

Reliance Industries : Should I even bother!!!

Wipro : Wipro is not just a software vendor, Wipro was set up in the small town of Amalner in Maharashtra in 1945. Azim Premji joined wipro in at the age of 21 after his father sudden demise. And look this family business now!!! Check out this site for a of wipro’s milestone.

Ford Motor Company : usually owning 5% to 10% percent of a public company gives you controlling rights of the company. Guess what, Ford family owns 40% of the voting rights.

So basically - Business is Business, Its not about “mom-pop”.