Family businesses should move towards professionalism - ISB Professor

Hathoon SHERIFFDEEN

"The stability of a family business depends on the values and professionalism of entrepreneurship" Prof. of Entrepreneurship, Indian School of Business K. Ramachandran said.

The Indian School of Business (ISB) arranged a session on building entrepreneurial organisations across generations at the Hilton Colombo on January 22. This was mainly on family business development.

Prof. Ramachandran said most of the businesses are family businesses. Gradually the founder should move to professionalism. For that they have to be trained and educated on several issues.

Various scholars from India and Sri Lanka addressed this session on this topic for ISB.

ISB offers various educational programmes, such as MBA, Executive programmes and training and research programmes.

"Most of the studies are based on European standards and examples. We are sure that we have many examples in Asia Pacific, which should be taught around the world.

We do lots of researches on various issues on business and family businesses, educate through our educational programs.

We have customized our training and research programs in various areas of Asia Pacific" Director Development, ISB Abhijit Boy said.

"We want to inform the public of Sri Lanka that we work for Asia Pacific and not just for India. Our University is at Kuala Lumpur.

Our courses are economical when compared to European courses and our MBA programmes are only of one year's duration", he said.