This Case is aboutÂ CORPORATE GOVERNANCE
PUBLICATION DATE: November 18, 2011 PRODUCT #: W11509-PDF-ENG
Most family businesses do not live beyond Â two or three generations. With better family government, company development ensures continuity of the company across generations and becomes a more pleasurable journey. The development of the group was led by the entrepreneurial passion and organizational capacities of its own creator G.M Rao. Having seen many family businesses for want of decent government mechanics, breaking up, Rao directed the way for the writing of the constitution of his family together with the aid of several specialists. The complete family after several rounds of iteration, and spent many hours signed a constitution in 2007. The writing process of the policies and procedures, as well as the constitution developed were ideal for optimizing the operation as well as the family’s well-being of GMR in future and present generations. The case captures end product and the vital procedures of composing a family constitution.