Lesson Learned - Wisdom Passed Down from Father to Son in Indian Business

In the realm of Indian business, wisdom passed down from father to son is often rich with cultural values, practical insights, and time-tested strategies. There have been many father-son duos who have disrupted the market with experience and innovation. The fact is that it is important for these young and ambitious individuals to understand the difficulties and ways to overcome them.

Moving further in this blog, we will share some of the key lessons from veteran business personalities that can help new-age entrepreneurs to succeed in this ever-evolving and competitive commercial landscape.

1. Value of Hard Work and Persistence

Many Indian business families emphasize the importance of diligence. Fathers often teach their sons that there are no shortcuts to success. This is evident in stories from major business families like the Ambanis, where the patriarch Dhirubhai Ambani’s relentless work ethic became a cornerstone for his sons, Mukesh and Anil Ambani.

2. Ethics and Integrity

Ethical conduct is crucial. Ratan Tata, mentored by his predecessor J.R.D. Tata, exemplifies this lesson. Despite various challenges, Ratan Tata's adherence to ethical business practices has maintained the Tata Group’s stellar reputation.

3. Respect for Tradition and Innovation

Balancing tradition with modernity is a frequent theme. For instance, Neetish Sarda (Founder of Smartworks), has disrupted the commercial real estate segment in India with advanced workspace solutions. With a motive of revolutionizing the look, feel, and experience of offices in India, Neetish Sarda’s Smartworks is seamlessly integrating cutting-edge technology with contemporary design to create dynamic and flexible office environments.

4.  Long-Term Vision

Fathers teach their sons to look beyond immediate gains. This long-term perspective is illustrated by Azim Premji, who instilled in his son Rishad Premji the importance of patience and strategic planning, ensuring Wipro’s sustained growth.

5.  Adaptability and Resilience

In a dynamic business environment, adaptability is key. The Bajaj family, for example, has continuously evolved its business strategies over decades. Rahul Bajaj, and later his son Rajiv Bajaj, have navigated numerous market changes by staying flexible and resilient.

6.  Humility

Staying humble despite success is a valuable lesson. Narayana Murthy of Infosys taught his son Rohan Murthy the importance of humility and remaining grounded, which has helped maintain a positive corporate culture at Infosys.

7.  Education and Knowledge

Emphasizing continuous learning is common. Sunil Bharti Mittal, founder of Bharti Enterprises, often shares how his father’s encouragement to seek knowledge and education helped shape his approach to business and innovation.

Here you can check how Jute baron Ghanshyam Sarda encourage future generation of Jute Industry.

8.  Networking and Relationships

Building and maintaining relationships is critical. The importance of networking can be seen in the Marwari business community, where family and community ties play a significant role in business success. The Bajoria family exemplifies this, with each generation learning to foster and leverage business relationships.

9.  Financial Prudence

Prudence in financial matters is a lesson often stressed. The Murugappa Group is known for its conservative financial strategies, taught through generations to ensure financial stability and growth without over-leveraging.

10. Corporate Social Responsibility (CSR)

Giving back to society is a value deeply ingrained. The Tata family has always emphasized CSR, and this tradition continues with the younger generations actively participating in various philanthropic activities through the Tata Trusts.

 

Conclusion

These lessons, deeply rooted in cultural values and practical business wisdom, continue to shape the ethos of Indian businesses. As fathers pass down their knowledge to their sons, they ensure the longevity and ethical standing of their enterprises, balancing tradition with innovation to navigate the complexities of modern markets.

With the need for creativity and innovation, new-age entrepreneurs like Nikhil Kamath, Ritesh Agarwal, Peyush Bansal, Vineeta Singh, Neetish Sarda, Kunal Shah, along with veteran industrialist Ghanshyam Sarda, Ratan Tata and many others are disrupting their respective segments.