family-run business vs. professionally managed business
TRANSCRIPT
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Family-run Business Vs. Professionally Managed
Business
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In emerging markets such as India, family-run businesses
are just as commonplace as professionally managed firms.
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it is important to understand the significance of each from the standpoint
of human resources management and structure policies, governance
mechanisms and processes accordingly to harness potential.
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What is the key to success to attract and retain
talent in a family run business?
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A. Policies to enable Individual Development
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B. Shun Nepotism and Promote Talent
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C. Celebrate Meritocracy
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D. Formulate Code of Conduct Guidebook
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E. Clearly define Organisational Hierarchy
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F. Foster Employee Inclusiveness
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G. Instil a Sense of Accountability
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H. Establish as An Equal Opportunity Employer
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I. Focus on Employer Branding
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