An investigation into the succession in one of the oldest and biggest family businesses in India: Case study of the Godrej Group

Abstract

Succession is an inevitable event in the life of a family business. The primary aim of this research was to study the management succession in Godrej Group, one of the oldest and biggest family-owned Indian Conglomerate and to understand the initiatives taken by the Godrej Group to ensure effective and efficient transition to its fourth generation. The objective was to find answers to the questions such as: Did the family discuss business issues in the family forums? What was the process of induction of the children in the family in the family enterprise? Were the incumbents reluctant towards succession? What were the various steps involved in succession management? Did factors such as gender, birth rights and preference influence the incumbent's choice for the successor? The research found that the incumbents and veterans of the Godrej Group began the process of success management more than a decade ago, provided equal opportunity to both daughters as well as sons to prove their worth, and made unbiased decision while handing over the role and responsibility to the next generation.