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Politics in Political Family and Family Business
Given the dynastic politics continuing to hold forte in Indian political history, the management institutes should try initiating a course on managing family-based political parties. There is sufficient market for this subject of education given the plethora of family-run companies in the country such that the shareholders need a greater clarity on issues spanning from the distribution of profits and succession to the management of wealth. In the coming time, voters would demand clarity on functioning of family-based political parties too, given the failure of political patriarchs to manage their family and familial issues like ego and competing agendas. Look at the Indian political history. The Central and state politics involve family dynamics with leaders like Jawaharlal Nehru, Indira Gandhi, Rajiv Gandhi, Sonia Gandhi in Gandhi family at centre since Independence, Telugu supremo N.T. Rama Rao, DMK leader K. Karunanidhi in Chennai, Bal Thackeray Shiv Sena in Mumbai, BSP leader Kanshi Ram, AiADMK founder M.G. Ramachandran, and so on. The management course should include creating an ownership structure where the family can control key departments of the business undertaking, ensuring harmonious relationships within the family, professional management of the family’s wealth etc.

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