Family-run Businesses Show Faith in Professional Managers
Tuesday, 17 January 2012, 18:17 IST
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Mumbai: In a shift from age old beliefs, a survey by global research agency Dun and Bradstreet has found that owners of nearly two-thirds of family-run businesses in India would prefer handing over the reigns to professional managers rather than their own children. A majority 34 per cent of the owners surveyed said they will prefer hiring managers from the industry in leadership positions, while 33 per cent said they will appoint a professional from their own organisation, the survey said. The survey, commissioned by Barclays Wealth, interviewed 200 owners of businesses having turnovers between Rs 200 crore and Rs 300 crore across five cities. However, in what runs contrary to the finding, 47 per cent of the respondents said they perceive leadership as being an inherent skill set rather than being acquired. For choosing a leader, 15 per cent of the respondents preferred crisis management skills, while 16 per cent said they will look for ability to enhance business prospects and 13 per cent said they will look for networking abilities.
Source: PTI
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