Hinduja Brothers: The Edgy Family Business at the Third Generation

2021 ◽  
pp. 231971452098215
Author(s):  
Hitesh Shukla
Keyword(s):  
Family Business ◽  
Fourth Generation ◽  
Financial Assets ◽  
Third Generation ◽  
High Court ◽  
Her Family ◽  
The Third ◽  
The Family ◽  
Group A ◽  
Legal Battle

The Hinduja Group, a closely held conglomerate, is among the world’s richest and valued centurion family business. Second-generation brothers are known for fellowship, legacy and togetherness. The four brothers’ sibling partnerships worked successfully for 50 years. They see all businesses as the Hinduja family’s business and not of any individual or any individual branch’s business. The third generation holds the reins and is working closely with the fourth generation. The family has a fortune worth $11.2 billion, which now stands disputed because the letter that all four brothers willingly signed in 2014 is now being contested in a legal battle in 2020. According to the letter, the financial assets of each brother belonged to every other brother and that each of them would appoint the others as their executors. The issue in the Hinduja family came in the light at the cousin’s consortium, when Srichand Hinduja’s daughter Vinoo moved to High Court in England, for the transition of ownership, seeking control of Switzerland-based Hinduja Bank for her family. The Hindujas face the twin threats of embarrassing exposures and a fragmentation of the family fortune at the third generation.

scholarly journals Maciej Ziemierski, Testamenty krakowskiej rodziny Królików z XVII w.

2020 ◽  
Vol 26 ◽  
pp. 11-41
Author(s):  
Maciej Ziemierski
Keyword(s):  
18Th Century ◽  
Family Members ◽  
17Th Century ◽  
16Th Century ◽  
Fourth Generation ◽  
Third Generation ◽  
The Third ◽  
The Family ◽  
The Town ◽  
Distinguished Member

17th century testaments of the Królik family from Krakow The article is dedicated to the Królik family from Krakow, who lived in the town from the late 16th century until the first years of the 18th century. The family members initially worked as tailors, later reinforcing the group of Krakow merchants in the third generation (Maciej Królik). Wojciech Królik – from the fourth generation – was a miner in Olkusz. The text omits the most distinguished member of the family, Wojciech’s oldest brother, the Krakow councillor Mikołaj Królik, whose figure has been covered in a separate work. The work shows the complicated religious relations in the family of non-Catholics, initially highly engaged in the life of the Krakow Congregation, but whose members gradually converted from Evangelism to Catholicism. As a result, Wojciech Królik and his siblings became Catholics. This work is complemented by four testaments of family members, with the first, Jakub Królik’s, being written in 1626 and the last one, Wojciech Królik’s, written in 1691.

scholarly journals THE DIFFERENCE PATTERN OF SUCCESSION BETWEEN SECOND GENERATION AND THRID GENERATION FAMILY BUSINESS IN INDONESIA (A REVIEW OF THE MEDIUM-SIZE FAMILY BUSINESS)

2019 ◽  
Vol 3 (2) ◽  
pp. 133-154
Author(s):  
Christina Whidya Utami
Keyword(s):  
Family Business ◽  
Second Generation ◽  
Family System ◽  
Medium Size ◽  
Third Generation ◽  
The Third ◽  
The Family ◽  
Generation Family ◽  
Business Succession ◽  
Family Business Succession

The purpose of this study is to find out whether there are differences on pattern of succession between the second and the third generation of family business in Indonesia. Research Design/ Methodology/ Approach: A cross sectional and comparative research design were used in this study, while the data survey was conducted to 41 respondents from the second-generation group and 48 respondents from the third-generation family business; the businesses has run for 5 to 50 years and were categorized as medium size family business. The study used multiple regression test via SPSS to test the hypothesis. Findings: In family business led by the second-generation successor, only personality system affects the family business succession. On the other hand, in family business led by the third-generation, personality, ownership, family, and management system variables affect the success of the family business; meanwhile, family system does not find to affect the family business succession. Research Limitation/ Implication: This study investigates pattern of succession in family business including personality system, ownership system, family system and management system. This study can suggest a solution in the regeneration process of a family business in order to maintain the continuity of the business. limitation: There are some biases found on family’s perspective of the assessment, and the study only focus on medium-size family business. Practical Implications: A right amount of focus on pattern of succession will help the second and the third generation of the family to manifest in business succession. Exploring the second and the third-generation perspectives in regard to succession pattern is the key to maintain the continuity of the family business. Originality/ value: This study offers a pattern of succession from various perspectives, including personal, ownership, family, and management, as well as the relationship to the long-term success of the family business.

scholarly journals Revealing the Third Generation Myth in Family Businesses

2020 ◽  
Vol 9 (1) ◽  
pp. 17-22
Author(s):  
Sabitha Rani Saraswati
Keyword(s):  
Data Collection ◽  
Knowledge Transfer ◽  
Family Business ◽  
Structured Interview ◽  
Family Businesses ◽  
Third Generation ◽  
Collection Method ◽  
The Third ◽  
The Family ◽  
A Company

A family Business is a company or business which is run and managed by a family. Hence, the purpose of this study is to find out the truth of the Third Generation myth in family businesses. This study uses a data collection method using a semi-structured interview. This research uses source triangulation method which aims to test the credibility of the data which is carried out by checking the data that has been obtained from several sources. In this study, samples will be taken from several sources. The resource person himself will be taken from the senior generation as the owner of the family businesses and the next generation. The results of this study states that the decline of family businesses did not occur solely because of the mistakes of the third generation. Therefore, the third generation myth is not true. Keywords: family business, trust, knowledge transfer, delegation, third generation

scholarly journals Diunsa: An Entrepreneurial Family’s Digital Response to COVID-19

2021 ◽  
pp. 251512742110331
Author(s):  
Lauri Union ◽  
Carmen Suen ◽  
Rubén Mancha
Keyword(s):  
Customer Service ◽  
Family Business ◽  
Service Operations ◽  
State Of Emergency ◽  
Supply Chain Disruptions ◽  
Online Retail ◽  
External Resources ◽  
The Third ◽  
The Family ◽  
Brick And Mortar

On March 15, 2020, in response to the Covid-19 pandemic, the Honduran government unexpectedly announced a state of emergency and mandated immediate closure of all businesses. Diunsa closed its six stores. The family-owned retailer had anticipated supply chain disruptions, stocked from alternative suppliers, and formed a crisis management team. Now, to keep the business afloat during the unexpected closure and retain all its employees on the payroll, the company had to move sales from the brick-and-mortar stores to an incomplete online retail site. The third generation in the family business—the Faraj siblings, all in their 20’s—led the critical transition online and response to setbacks. As digital-native millennials, they helped improve the website, customer service, operations, and delivery in a short amount of time and using external resources and various technologies. As the situation stabilized, Diunsa’s leadership asked: How will Diunsa build on the momentum for digital transformation and turn its tactical actions into a digital strategy? How can we continue to tap into the leadership of our up-and-coming generation to achieve these goals?

The 3D IFB SWOT Analysis as a Strategic Tool to Develop Entrepreneurial Plans for Family Businesses

2020 ◽  
pp. 363-389
Author(s):  
Luz Leyda Vega-Rosado
Keyword(s):  
Family Business ◽  
Swot Analysis ◽  
Three Dimensional ◽  
Family Firm ◽  
Second Phase ◽  
The Third ◽  
Third Phase ◽  
The Family ◽  
Generational Groups ◽  
The Individual

This chapter provides a framework that family business members can use to strategically and entrepreneurially evaluate themselves before they prepare the final strategic plan of the family firm. The tool consists of four phases. The first phase is the Strengths-Weaknesses-Opportunities-Threats (SWOT) analysis of the Individuals that are members of the family business. The second phase is the SWOT analysis of the Family's generational groups. Each generation in the family business will work in groups according to their year of birth. The third phase is the SWOT analysis of the Business. The fourth and most important phase is the integration called 3D IFB SWOT Analysis. It is 3D because it is three-dimensional, integrating the Individual, the Family's generations, and the Business.

Univocality within Multivocality

2010 ◽  
Vol 2 (2) ◽  
pp. 46-62 ◽  
Author(s):  
Elie Podeh
Keyword(s):  
Jewish History ◽  
Linear Process ◽  
History Textbooks ◽  
The Other ◽  
Fourth Generation ◽  
Third Generation ◽  
Gradual Improvement ◽  
The Third ◽  
The Past ◽  
The Way

Previous research on the way in which the Arab-Israeli conflict and the image of the Arab have been presented in Jewish history and civics textbooks established that there have been three phases, each typified by its own distinctive textbooks. The shift from the first to the third generation of textbooks saw a gradual improvement in the way the Other has been described, with the elimination of many biases, distortions and omissions. This article explores whether new history textbooks, published from 2000 to 2010, have entrenched or reversed this trend. With the escalation of the Israeli-Palestinian conflict since the early 2000s, one might have expected that the past linear process of improvement would be reversed. However, textbooks written over the last decade do not substantially differ from those written in the 1990s, during the heyday of the peace process. The overall picture is, therefore, that the current textbooks do not constitute a fourth generation.

Thomas Wallace, 1891-1965

1966 ◽  
Vol 12 ◽  
pp. 503-519
Keyword(s):  
Nineteenth Century ◽  
Family Business ◽  
Mining Activities ◽  
Agricultural Machinery ◽  
Pure Science ◽  
The Third ◽  
Farming Community ◽  
Agricultural Community ◽  
The Family ◽  
The Subject

Thomas Wallace was the eighth child of a family of nine, three sons and six daughters. His father, also Thomas, was a blacksmith and agricultural engineer carrying on a family business at Newton-on-the-Moor, near Alnwick. From the beginning of the nineteenth century the Wallace smithy had served the needs of the local farming community, shoeing their horses and mending their simple agricultural machinery. Two of Thomas Wallace’s sons showed the family bent for engineering, but the third, who bore his father’s name and who is the subject of this memoir, had, as he often said himself, no skill in engineering nor any liking for the work; his interests were in scholarship, catholic at first, but soon to be canalized in the study of pure science. Thomas Wallace senior had married Mary Thompson, also of a Northumberland country family. Before their eighth child was born on 5 September 1891 he moved to Burradon, where he expanded his business by undertaking work for the collieries. Thomas junior’s childhood was spent in his native village, where although the country was still pleasant and highly farmed, mining activities had already begun to bring about those changes which later were to take away so much of its beauty. Wallace as a boy was attracted to the farms and he spent many happy days on them, playing and watching the men at work. As he grew older he began to share in the work of haymaking and harvest. It is to this country background that can be attributed the ease with which he later became absorbed in the agricultural community he served.

The journey of Blitz: challenges lie in running the family business

2017 ◽  
Vol 7 (4) ◽  
pp. 1-18
Author(s):  
Sloksana Subramaiam ◽  
Farzana Quoquab ◽  
Jihad Mohammad
Keyword(s):  
Family Business ◽  
Market Segmentation ◽  
School Teacher ◽  
Subject Area ◽  
Growth Strategies ◽  
Product Price ◽  
Content Type ◽  
Her Family ◽  
Mba Students ◽  
The Family

Subject area This case can be used in teaching Marketing Management, Principles of Marketing and Consumer Behavior. More specifically, marketing strategies, growth strategies, market segmentation. Study level/applicability This case is designed for undergraduate and MBA students. Case overview This case illustrates the challenges a woman faces taking on the running of her family business, without any prior experience. Hema is a well-educated girl with a diploma in childhood education from UTM-Johor; she was happily working as a school teacher. Her parents are entrepreneurs Encik Sittumalai and Puan Rani. Her Mother Puan Rani set up a business in 2005, under the name of Blitz, producing and selling Indian cookies. In 2010, Blitz was one of the best homemade Indian cookies in the market of Johor Bahru, and supplied their products to five main Indian restaurants. In March 2012, Rani was diagnosed with final stage colon cancer and as a result the business was halted, and the organization was not able to pay employees’ salaries. Hema found herself left with no choice but to resign from her teaching job and take care of the family business. Expected learning outcomes From this case, it is expected that the students will be able to: understand the fundamental functions of marketing; learn about the four Ps of marketing including product, price, promotion and place; learn about different techniques and strategies to analyze organizations and market situation including SWOT and Porter’s five forces; gain knowledge about market segmentation and growth strategies; identify problems and challenges faced by a new manager in running a company; analyze a situation whereby a new manager needs to adapt to a new role, duties and responsibilities; analyze the external and internal environment using SWOT; understand competition using Porter’s 5 forces; think thoroughly, deeply and critically to make a decision that can solve the problem in hand. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 8: Marketing.

scholarly journals Differential diagnosis of hyperthyroidism with highly sensitive assay of blood TTH: clinical review and practical recommendations for use in Russia and USA

1994 ◽  
Vol 40 (5) ◽  
pp. 36-39
Author(s):  
J. Figge ◽  
G. A. Gerasimov
Keyword(s):  
Second Generation ◽  
Joint Venture ◽  
The United States ◽  
Fourth Generation ◽  
Lower Sensitivity ◽  
Third Generation ◽  
The Third ◽  
Highly Sensitive ◽  
The Usa ◽  
Almost All

Highly sensitive methods for determining the level of TSH, carried out using test kits of the second and third generation, make it possible to differentiate with high accuracy the normal and subnormal levels of TSH in the blood and are currently widely used to examine patients with thyroid pathology. These methods have been used for a long time in clinical practice in the United States of America, and recently they are also increasingly used in Russia. The level of TSH below normal values ​​is determined in almost all cases of hyperthyroidism (with the exception of cases of TSH-secreting pituitary adenoma or resistance of the pituitary to thyroid hormones), which makes it possible to do without additional testing with tyroliberin (TRH). Methods for determining second generation TSH usually have a lower sensitivity limit of about 0.1 mU/L. When using the third generation methods, it is possible to accurately determine the level of TSH up to 0.01 mU/L. The fourth generation methods, which are still under development, will have a lower limit of determination of 0.001 mU/L, but they are unlikely to be used for routine clinical studies in the near future. At the Endocrinology Research Center of the Russian Academy of Medical Sciences in Moscow, third-generation methods are currently being used for routine clinical research (the Amerlight system, produced in Russia by the Amerkard joint venture). In addition to this system, other test systems of both domestic and foreign production are also available in Russia. In the USA, methods for determining TTG of the second and third generation are used. Third-generation systems are noticeably more expensive than second-generation systems. Given that in most patients with hyperthyroidism, the TSH level is in the range of less than 0.1 mU/L, methods for determining the third generation are more preferable. In general, the normal level of TSH in the blood of individuals in a state of euthyroidism is from 0.5 to 5.0 mU/L, although there are some interlaboratory differences in the standards for the level of TSH.

scholarly journals Parameters of the seasonal cycle of Corythucha arcuata (Say, 1832) (Heteroptera: Tingidae) in the plains and foothills of the Northwestern Caucasus

2019 ◽  
pp. 101-128
Author(s):  
В.И. Щуров ◽  
А.С. Замотайлов
Keyword(s):  
First Generation ◽  
Second Generation ◽  
Egg Laying ◽  
Day Length ◽  
Fourth Generation ◽  
Third Generation ◽  
Degree Days ◽  
The Third ◽  
Female Immigrant ◽  
Northwestern Caucasus

Развитие первой генерации Corythucha arcuata в предгорьях и низкогорьях Северо-Западного Кавказа начинается в первых числах мая. При нижнем пороге пост-диапаузного развития имаго +11°С и при естественной длине дня ей требуется не менее 43 суток (аккумуляция 333-404 гр.-дн.). Гибель перезимовавших самок в этой зоне наблюдается к концу июня, совпадая с сокращением общей доли самок до 2-7%. В высокогорьях перезимовавшие имаго расселяются и в июне, доживая до июля на ивах и березах. Пик выхода имаго первого поколения приходится на конец июня. Массовая яйцекладка самками первого поколения (начало второго поколения) предваряется миграцией оплодотворенных самок на новые кормовые растения. Развитие преимагиальных стадий второго поколения (без смены кормовых растений) протекает с середины июня. Метаморфоз длится не менее 16-23 суток (361-430 гр.-дн.). Пик выхода имаго второго поколения в конце июля совпадает с массовым расселением, в котором всегда преобладают самки. Третье поколение развивается в августе. Метаморфоз занимает 19-28 суток (329-350 гр.-дн.). Пик выхода имаго третьего поколения приходится на первую декаду сентября. Его предваряет более ранний выход самцов, определяемый по их локальным и региональным миграциями с конца августа. Четвертое поколение является факультативным и развивается (без смены кормовых растений) с конца августа до третьей декады сентября. Развитие преимагиальных стадий этого поколения занимает не менее 26 суток (378 гр.-дн.). Последняя миграция клопов наблюдается в начале-середине октября. Самки третьего поколения первыми уходят в места зимовки в предгорьях и низкогорьях уже в середине сентября. Здесь, в дубовых лесах, зимуют имаго третьего и четвертого поколений обычно с преобладанием самок. В среднегорьях с ними могут зимовать особи-иммигранты второго поколения, но с преобладанием самцов, сохраняющимся с сентября. Development of the first generation of Corythucha arcuata in the climate of the foothills and lowlands of the Northwest Caucasus starts in the early May. With a natural day length and the threshold for post-diapause imago development of 11 °C, it requires 333-404 degree-days and at least 43 days. The death of the overwintered females in this zone is observed by the end of June, coinciding with the reduction of the total portion of females to 2-7%. In the highlands imagoes are dispersing in June as well, surviving until July on willows and birch trees. Peak of the first-generation imago outcome occurs at the end of June. Migration of fertilized females of the first generation to new forage plants is followed by mass egg laying (i.e. beginning of the second generation). During the formation of large nests in the foothills, the flight of bugs is observed even in treeless highlands. Development of the preadult stages of the second generation (without changing feed plants) takes place starting at mid-June. Metamorphosis requires 361-430 degree-days and takes at least 16-23 days. The peak of the emergence of the second generation imagoes at the end of July coincides with their dispersal, which is also dominated by females. The third generation develops in August. It requires 329-350 degree-days and takes 19-28 days. The peak of the emergence of the G3 imagoes falls on the first third of September. It is preceded by anearlier emergence of males, determined by their mass local and regional migrations since the end of August. The fourth generation is obligated and develops (without changing feed plants) from the end of August to the end of September. It requires at least 378 degree-days and takes at least 26 days. Late nymphs resulting from female immigrant of the third generation (on new trees) give imagoes only by mid-October. The last migration of bugs is observed in early to mid-October. Imagoes of the third and fourth generations with the predominance of females hibernate in the oak forests of the foothills and low-mountain. In the midlands they may be accompanied by the overwintering immigrants of the second generation, with the predominance of males, formed in September.

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