‘Family businesses must allow next-gen to pursue their interests’
Hyderabad: In a family-run business it is assumed that the next generation will take over. However, Hero Enterprises chairman Sunil Kant Munjal has a different perspective towards this as he believes that the newer generation must not be forced towards the business. “On the contrary they should be given a free hand to pursue their […]
Hyderabad: In a family-run business it is assumed that the next generation will take over. However, Hero Enterprises chairman Sunil Kant Munjal has a different perspective towards this as he believes that the newer generation must not be forced towards the business.
“On the contrary they should be given a free hand to pursue their interests and passions,” Munjal said at an event here.
Speaking at ISB on the occasion of the launch of his book ‘The Making of Hero’, Munjal said that we should try and stop controlling the future of our children and grandchildren because they will be living their truth.
“What we live is our truth and it was completely different from our parents and grandparents and if they saw what we are doing today, they may be thrilled or be aghast. We have to allow the future to play itself out and also try and avoid vicariously living our lives through our children because they are much better exposed than we were,” he said to a packed audience.
He was having a conversation with Apollo Hospitals, executive vice chairman, Shobhana Kamineni along with ISB Dean Madan Pillutla on different aspects of running a family business.
The topmost priority, according to Munjal, in Hero Group’s business journey so far, has been that the family values have become business values. “My father Brijmohan Lall Munjal once gave back the small scale business licence issued for cycle as he did not want it. These were the values that the group is built on,” he said.
Electric Vehicle:
Speaking about the electric vehicle industry, Munjal said that the auto industry has to make the shift to cleaner fuel. “The technology of EV is 100 years old and it has now been improvised and refined, thus making it more efficient. Industry needs to have more open mind so as to get disruption,” he informed.
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