Corporate Governance and Strategic Leadership in Family Based Multinational Entrepreneurial Firms of India

Corporate Governance and Strategic Leadership have always been identified as key performance indicators in the corporate world. Family Based Entrepreneurial Businesses are regarded as one of the most important forms of organization, which has long been dominating the world economy. These businesses are the norms, and a major contributor to the GDP of the Indian economy. Corporate Governance is the new business mantra acclaimed world-wide. In India, this field is gaining momentum, and is being integrated into core business values and operations, as the framework for the implementation of sustainable development. This dissertation dwells on, the scenario of Corporate Governance and Strategic Leadership in the Indian corporate world in relation to family based firms. To realize the desired results, a qualitative methodology was embarked upon utilizing a detailed case study approach, of two reputed family based companies within their respective groups -Reliance Industries Limited and Tata Motors Limited. Further two interviews were conducted, and fourteen questionnaire responses were generated, which enabled the researcher to gain insight into the overreaching question governing the dissertation i.e. whether India is known for rigid corporate governance standards and if yes, their applicability to family based firms? This dissertation has enhanced the researchers knowledge, on the current situation regarding corporate governance and strategic leadership prevailing in India and particularly to family based firms. The study generated that, corporate governance is still in its nascent stage in India and is evolving. However, India is striding forward with full stern, in its quest to carve a niche in the global arena in the field of corporate governance. Family based firms do have a well functioning system of corporate governance, and an enterprising leadership to back it too. Overall, this research recommends that, corporate governance continues to expand strategically, and a realistic push is being made towards achieving success in this regard, within the Indian corporate world and in particular to the family based firms. This dissertation can serve as the basis for other researchers to delve further into this vast and yet contemporary field, such as the one under consideration. Learning is a journey and not a destination- so bon voyage into the realm of new discoveries