Companies which are family run and inherit their own family members as a successor of a company, are they better than professional companies which hire and prepare individuals over a period of time for that position? It has worked very well in the case of Reliance industries where bith mukesh and anil ambani have taken the companies to great heights.. but is it always the same case?
But its not nevesarry that someone who inherits the business can do equally well. There have been businesses where people have failed miserably. So there is perhaps no obvious answer. Btoh have pros n cons
Family businesses must insure that the young generation joining the family business must first get relevant expiernice in the market in a different company, else they would be a part of the existing family business system and would be devoid of any new ideas or strategies