Apoorva Srivastava

Family business in transition: a case of PAL

Purpose – The case aims to deal with multi generation entrepreneurship. Families are about people and businesses are about money, therefore, conflict between the two is inevitable. Family-owned businesses develop competitive edges when they align values, vision, strategy, investment and governance to make both family and business activities more professional and mutually supportive. It is a belief that “treating the business like a family”, driven by values and concern for human needs, creates an organization with motivated people working together to create long-term value. Jitesh Ghai is the MD of Panchamrit Asbestos Ltd (PAL), which stands for PAL. Jitesh has an “experiential learning” with the cement sheet business and has understood the nuances of the business. It is supposedly required that PAL ought to professionalize owing to market infeasibility. Shashwat, his son has diversified interests and therefore desires to spin-off to “Big Apple”. Design/methodology/approach – The case is based on research...

I have a dream: Ayuvayur Pharmaceuticals

Title – I have a dream: Ayuvayur Pharmaceuticals.Subject area – Start‐ups, entrepreneurship, innovation and innovative practices, risks, uncertainties, differentiation, internationalization, competition, business models, operationalizing and implementing strategy.Study level/applicability – The case is suitable for MBA students.Case overview – Vinay moved to the capital city of a Northern Indian state, which also happened to be a commercial hub, after his family business failed. The family succumbed to living in a room without electricity and doors. Vinay had dreamt of establishing his own business empire by being a successful entrepreneur. Steered by this intent, he established a pharmaceutical company with the name of Ayuvayur Pharmaceuticals. The challenge was to establish an innovative Ayurveda‐based pharmaceutical products‐based firm and to build a leading business empire with a customer focus. Progress was not smooth and the challenges ahead multiplied. Despite his ability to cope with barriers, ris...

Enhancing dynamic capability: a case of Microlit

Purpose – This study/paper aims to create an understanding on how a firm develops dynamic capabilities in new strategic dimensions. Innovation in organizations is not an exclusive domain of large firms. Family-owned and -managed firms have aggressively integrated innovation. Focussed orientation towards product innovation combined with innovative capability and high levels of owner-manager motivation has helped translate technology-based family businesses into highly profitable and competitive ventures. Microlit, is a liquid handling product manufacturer producing high-quality, high-tech, cost-effective, single and multichannel micropipettes. Founded in 1988, by brothers Ajay and Atul Jain, it is based in Lucknow, Uttar Pradesh, India. The key contributor to the firm’s success has been its strong customer-oriented product designs. The challenge lies in development of dynamic capabilities to gain competence in new strategic dimensions? Would the firm be able to leverage its innovation drive? Design/methodo...

International Lessons on Innovation for Socio Economic Development in India

More appropriate form of innovation may be roughly defined as technology will be more suited to low-income consumers. This means that more appropriate technology will be more suited low income consumers. This means more labour intensive, less skilled, smaller scale, use more local materials, produce simpler low-income products than most of advanced nations technology currently being transferred to low-income nations. Innovators internationally, create most of the wealth, new or a proportionate jump from the existing, while the managers and others tend to safeguard it. Much of the growth comes from entrepreneurs and this leads to creation of employment. They bestow new value to old assets. Create entirely new fountains of wealth. More appropriate innovation may be socially not very useful. Learning effects would be such as to outweigh the loss in output. Thus it is necessary to research why some companies are able to create more value than others! How do some sectors create more wealth than others? Why certain nations do better than others and what is the underlying cause for such successes in creation of wealth? Is innovation and important factor towards socio-economic development of a Nation?

Professionalization and Spin-Off: A Case of Closely Held Family Business

Families are about people and businesses are about money, conflict between the two is inevitable. Family-owned businesses develop competitive edges when they align values, vision, strategy, investment and governance to make both family and business activities more professional and mutually supportive. It is a belief that “treating the business like a family”, driven by values and concern for human needs, creates an organization with motivated people working together to create long-term value. U. P. Asbestos Ltd. (UPAL) was incorporated under the Companies Act 1956, on 18th July, 1973 and obtained certificate of commencement of business on 4th August, 1973. It was the joint venture of UP Cement Corporation (a state government subsidiary) between Harshwardhan & Kejariwal who were hold 26% and 25% shares respectively, which make 51% of shares in combination, rest 49% were held by public equity.Amitabh Tayal as the MD of UPAL, based on his experiential learning with the cement sheet business, understood the nuances of this business. UPAL needed to professionalize because of the adverse environment based on market infeasibility. Adequate control systems exist to enable the Board to effectively discharge its responsibilities in making fair and transparent decisions.Meanwhile, Priyank, Amitabh’s son, went across to a leading University in USA to acquire skills and complete higher education in business. Amitabh’s sister was married in Ruia’s, a business family. Her son and Priyank became friends during study in USA. Later on, Priyank got an opportunity to enter into the field of real estate with a joint venture of Ruia’s Phoenix Mills Ltd. and UPAL. They established the fourth multiplex-cum-Mall in the name of Phoenix United. At the same time, Priyank’s wife Shailly Tayal also entered in the family firm as Head- Financial Audit. Priyank has diversified interests than Asbestos, therefore, had to look for spin-off. Big Apple was established in early 2007, by Priyank Tayal, with the seed money from his father and partly from his savings done during his job in a private equity firm in New York. The business is in transition