It’s when you know that Pidilite Industries Ltd, the family-run company, had a market valuation of Rs 27,837 crore as on 31 March 2014 that you realize the fallacy of the statement. Old mindsets believe that professional companies are better than the so-called family companies. Which company isn’t a ‘lala’ company? Which ‘professional’ listed company isn’t a ‘lala’ company? Isn’t WPP a ‘lala’ company with Sir Martin Sorrell as the ‘lala’, even if it is a listed, traded company? Isn’t he our ‘lala’ sitting at the WPP HQ in London? Why don’t we equate Martin Sorrell with Nita Ambani? Or, Maurice Levy with Kumaramangalam Birla? sort by Note: these are all the books on Goodreads for this author. That brings me to the most important point: which company, family-run or otherwise, does not exercise control? Books by Piyush Pandey (Author of Pandeymonium) Books by Piyush Pandey Piyush Pandey Average rating 3.81 1,223 ratings 173 reviews shelved 2,592 times Showing 23 distinct works. There is, of course, an extraordinary amount of control-at least the perception of control. It’s no surprise then that even these days, we see many family-run companies enjoying the advantage of continuity in leadership and an extraordinarily high level of loyalty. Senior executives are able to see their value beyond their salary slips when they know that they are wanted and they know that their views are respected, and they know that the company they work for is sensitive to their needs and concerns, they are less inclined to jump jobs. That’s what leads to their amazing ability to retain talent. Family-run companies are more sensitive, and demonstrate more warmth and sensitivity.

There’s a huge difference in the way that family-run businesses are run when compared to what we call ‘professional’ companies.

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