Insights into Family Business - Driving for Excellence

To Grow is the Only Way to Survive A now world-famous industrialist of Indian origin used to be the son of a steel trader in a small town. In the late seventies his father sent him to Indonesia to recover some money from a client. The client had given some land in lieu of money, and the son had the responsibility of selling off the land at a good price and bringing the money home. Now when the young man landed up in Indonesia, he came to know that steel was being bought up at high rates by the Japanese, much higher than the rate was in India. So he sent his father a message - instead of selling off the land, we will set up a steel mill here. This story serves as a perfect illustration of my three-point proposition for today. The first of these is: 1. To survive in business is difficult To continue with the story, the mill was duly set up, and for ten years the young man and his wife stayed there in Indonesia, raising their small son and establishing their business. Money...