Press Releases

“Trust can be a source of significant competitive advantage to a family business” says Adi Godrej at the ISB Family Business Conference

B School inaugurates the Thomas Schmidheiny Centre for Family Enterprise 
 
The Indian School of Business (ISB) launched the Thomas Schmidheiny Centre for Family Enterprise today.  Adi Godrej, Chairman, Godrej Group and Chairman of the ISB Board, Dr Thomas Schmidheiny, Chairman, Spectrum Value Management, Ajit Rangnekar, Dean ISB, Dieter Spaelti, Managing Partner and CEO - Spectrum Value Management Ltd, Zurich and Professor Kavil Ramachandran, Executive Director, Thomas Schmidheiny Centre for Family Enterprise participated in the opening ceremony. The inauguration of the new Centre coincided with the Fifth Asian Invitational Conference on Family Business being held at the ISB. The Thomas Schmidheiny Centre for Family Enterprise is funded and supported by Dr Thomas Schmidheiny.
 
The new Centre is an expansion over the Thomas Schmidheiny Chair for Family Business, which was established in 2006. Over the years, the Chair has contributed significantly to the growing body of research on various aspects of family business, such as governance, leadership, professionalisation, role of women in family businesses and entrepreneurship. Encouraged by the impact of the work done by the Chair, Dr Thomas Schmidheiny has extended his support to ISB in setting up this Centre.  
 
The Centre has been established with the objective of creating sustainable family enterprises and institutions, strengthening the custodianship role of business families and other stakeholders which in turn will create value for the economy and the society. Some of the new areas that the Centre will focus on, are wealth management, philanthropy, developing mentors for family businesses, managing family business boards, and research on global family enterprises. The ongoing activities will include research, case studies, training, teaching, external engagement and institution building.
 
In addition to setting up the Centre, the ISB offers a Management Programme for Family Businesses (MFAB), conducts short duration executive programmes, and has recently started the Family Business Forum that allows alumni and students from family businesses to engage with heads of leading family business groups and learn best practices. 
 
Several international delegates from Singapore, Indonesia Sri Lanka Bangladesh, Oman and Switzerland besides India, are participating in the Family Business Conference. Several leaders such as Dieter Spaelti, Managing Partner and CEO - Spectrum Value Management Ltd, Zurich, Jamil Ali Sultan, Director - W.J. Towell & Co. (LLC), Oman, Husein Esufally,Chairman - Hemas Holdings PLC, Sri Lanka, Shanti L. Poesposoetjipto, Chairman - PT Samudera Indonesia Tbk, Indonesia Chairman - PT Asuransi Bintang Tbk, Indonesia, Feroz Rahim, Group Managing Director- Rahimafrooz (Bangladesh) Limited, Gopal Srinivasan, Chairman and Managing Director -TVS Capital Funds Ltd, Sajjan Jindal,Chairman and Managing Director, JSW Group, Sangita Reddy, Joint Managing Director, Apollo Hospitals Enterprise Limited, G V Prasad, Co-Chairman and Chief Executive Officer - Dr. Reddy's Laboratories Ltd, Anil Rai Gupta, Chairman and Managing Director, Havells India Ltd, M G Geroge Muthoot, Chairman, The Muthoot Groupare participating in the two day conference.

Quote Sheet
 
Adi Godrej: “I believe that an essential element for the long term success of family managed businesses as with other forms of business will be a strong system of corporate governance. Good corporate governance must include the framework of a strong performance orientation. Family businesses, both small and large tend to be quick to react to threats as well as opportunities. ‘Trust’ lowers transaction costs, corruption, and bureaucracy. Trust can be a source of significant competitive advantage to a family business
 
Dr Thomas Schmidheiny: "I am privileged to enhance my involvement and financially support the creation of the Thomas Schmidheiny Centre for Family Enterprise at the ISB. I expect the newly created centre to expand and deepen activities on all fronts. I hope there will be more research both with academic and practical focus, while the conference itself will become more Pan Asian. It is based on my conviction in the proven capabilities of ISB in continuing and strengthening their contribution to all the stake holders of the field of family business that I have committed to donate part of my wealth to ISB. I keenly look forward to working with the ISB team to accomplish our joint mission.”
 
Ajit Rangnekar: “Family businesses are a major economic engine and driving force for wealth creation in countries around the world and the unique challenges and opportunities they represent, are rapidly becoming an important subject of management research.  I thank Dr Thomas Schmidheiny for his trust and support in setting up a Centre in this important area. With this support, we will work towards making family businesses stronger and sustainable, ultimately for the benefit of themselves and the society at large.”
 
Kavil Ramachandran: “Over the years the Family Business conference at ISB has established itself as a meaningful and authoritative platform in Asia-Pacific region for the exchange of knowledge and emerging ideas in the field of family business management. Family businesses, practitioners and academics look up to this conference for the value and insights it offers. Family business delegates are participating in the event with great enthusiasm and inquisitiveness.  The setting up of the Thomas Schmidheiny Centre for Family Enterprise marks a momentous occasion in our journey of value creation for business families and society.”