Family businesses can be stressful places, not least because those running them often have to deal with the anxieties of managing a company with the pressure of the family owners. But maybe a spot meditation, or even a bit of Vedic philosophy could help.
If you feel so inclined then pick up a copy of a new book called India Family Business Mantras. Written by Tatwamasi Dixit, a Vedic scholar, and Peter Leach, a partner at the professional services group Deloitte in London, the book pulls upon Indian epics, scriptures and history to help guide family businesses in the 21st century. India has a rich history of family businesses and the sector dominates the economy, contributing close to 70% of GDP and nearly 50% of employment – so the authors have plenty of material to pull upon.
The appeal of the book rests on the intermingling of the more spiritual side of family businesses in India with the prosaic parts that any family business would be familiar with like succession, governance and non-family managers. The authors know the Indian family business sector well as they have worked extensively with them, but they also are very familiar with trends in global family businesses.
This makes a compelling combination and is the chief reason to buy the book. Increasingly, western family businesses will learn from their counterparts in places like India and the flow of information in areas like best practices will work in both directions.
The book presents many case studies and interviews with some of the top Indian business families, including the Murugappa Group, Ambuja Group, Haldiram Group, GMR Group and Thermax Group.
India Family Business Mantras was recently launched at a reception in New Delhi attended by no less than the country’s president Pranab Mukherjee, as well as many representatives of the families running businesses in the country.
The book is for sale on Amazon for $36.99. Too much? Well maybe a good dose of mediation could achieve the same results as reading the book, and it’s free…