The Economic Times

ET Family Business Awards: Businesses are built not on greed, but on contribution, says ex-SEBI chief M Damodaran

Successful Indian family businesses identify individual strengths and plan succession early. They also rope in the best professional talent for business growth. These enterprises are not run by a dominant leader but by recognizing family members' contributions. Succession planning in family firms is often clearer than in professional companies. Enduring business families build enterprises on economic and societal contributions, not greed.