Family Enterprise in the Asia Pacific
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Family Enterprise in the Asia Pacific

Exploring Transgenerational Entrepreneurship in Family Firms

Edited by Kevin Au, Justin B. Craig and K. Ramachandran

This book analyzes the findings reported in the first Asia Pacific summit of the Successful Transgenerational Entrepreneurship Practices (STEP) project. Researchers in Australia, China, and India discussed eleven in-depth case studies to shed light on the challenges that business families and family businesses faced in continuing and extending their entrepreneurial capabilities across multiple generations.
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Chapter 11: GMR Group: A Case of Serial Entrepreneurship

Justin Craig, Wayne Irava and Ken Moores

Extract

11. GMR Group: a case of serial entrepreneurship Kavil Ramachandran, John Ward, Sachin Waiker and Rachna Jha 11.1 INTRODUCTION With the opening up of the economy in 1991, India emerged as one of the fastest growing economies in the world. Acknowledging the need for a sound infrastructure base to support this rapid pace of socio-economic growth, the government of India initiated several policy measures to promote investments in the infrastructure industry, among which encouraging public-private partnerships for infrastructure development was one. Grabbing this opportunity to deliver sustainable development through public-private partnerships, the GMR Group made a foray into the infrastructure business in 2000. Within a span of nine years, the Group successfully positioned itself as one of the leading infrastructure companies in the country, with interests in airports, energy, highways and urban infrastructure. Named after its founder and the current Chairman, G.M. Rao, the GMR Group was built upon the entrepreneurial energy of two generations. Starting from a very small trading base, the Group went global through the infrastructure route and started institutionalizing entrepreneurship in the family and business. The family and business also adopted and practiced good governance principles. 11.2 BACKGROUND The Company The GMR case underlines the need to have proactive approaches to sustain entrepreneurship in the family. Entrepreneurship flourishes when 164 M2725 - AU TEXT.indd 164 24/08/2011 10:06 GMR Group: a case of serial entrepreneurship 165 a favorable environment is created both in the family and the business. Among the multiple models of family entrepreneurship possible,...

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