Involve family in their business
Once I was at one of the top Indian owned company here in Uganda. I had been invited to make a presentation to the board on the topic “the role of the Board in strategy execution and risk management.” One of the attendees caught my eye. It was a 12 year old young man, who was seated among the board members. During break I enquired what the young man was doing among the top honchos of one of the biggest local fast moving consumer goods.
They told me he was one of the grandsons of the Chairman, and they wanted him to understand governance first hand. That stuck in my mind: empower people to succeed. Show them the way.
One of the secrets of Indians is that they involve their children early in the business.
To be continued in part 3