Mariwala's Family Entrepreneurship Challenges (B)
By Navneet Bhatnagar, Sougata Ray, Kavil Ramachandran, Moksh Garg
Harvard Business Publishingaa | March 2023
DOI
hbsp.harvard.edu/product/ISB376-PDF-ENG?Ntt=mariwala
Citation
Bhatnagar, Navneet., Ray, Sougata., Ramachandran, Kavil., Garg, Moksh. (2023). Mariwala's Family Entrepreneurship Challenges (B) Harvard Business Publishingaa hbsp.harvard.edu/product/ISB376-PDF-ENG?Ntt=mariwala.
Copyright
Harvard Business Publishingaa, 2023
Share:
Abstract
This case is about Harsh Mariwala's quest to reorient and redefine himself to serve a larger purpose in life after he decided to step down from the executive leadership of his family-owned business. His firm, Marico was a FMCG company with a wide range of products in personal care category, ready-to-eat healthy foods, and edible oils. Hailing from a business family, Harsh, had established Marico in 1990. He had hired high-quality non-family talent and professionalised the business by setting up rule-based decision systems and policies. He had grown the business over the years. By 2014, Harsh decided to step down from the CEO position. He had two children who aspired to make independent careers. Hence, Harsh picked a capable long-time non-family employee as his successor. After handing over the baton, Harsh was contemplating how to reinvent himself. He wanted to work for societal development and make a difference. Challenges on hand were enormous. Harsh also had to address the insecurities and anxieties of his immediate family about the changes ensuing this transition. In addition, Harsh also had to ensure that Marico evolved into a lasting family business.

Sougata Ray is a Professor of Strategy and Entrepreneurship (Practice), Thomas Schmidheiny Chair Professor, and Executive Director of the Thomas Schmidheiny Centre for Family Enterprise, at the Indian School of Business (ISB). Earlier, he served at the Indian Institute of Management Calcutta for over two decades as a Professor of Strategic Management, a member of the Board of Governors, and Dean. He was also a senior-level executive at Infosys Technologies Limited for two years in a strategic role as Head of innovation Lab. He is an alumnus of Indian Institute of Management, Ahmedabad and the Indian Institute of Engineering, Science and Technology, Shibpur.

Professor Ray’s research interests have evolved over the years in understanding various facets of strategic management, entrepreneurship, innovation and the governance of firms and business groups in high-growth economies. Given the ubiquity of family firms in India and observing how family owners and leaders play a pivotal role in shaping the future of enterprises, he was gradually drawn into family business research. In recent years, under the aegis of the Thomas Schmidheiny Centre for Family Enterprise, he has been spearheading a mega programme towards developing a solid research-based understanding of family firms and business groups in India and South Asia. He has also been leading a research programme in the areas of social entrepreneurship, corporate sustainability strategy and practices, bottom-of-the-pyramid initiatives, and involvement of corporations in inclusive and sustainable development.

Professor Ray is one of the most prolific and cited home-grown strategy scholars in India. He has been publishing regularly in reputed scholarly journals and presenting in leading peer-reviewed international conferences. He has received over half a million dollars in research grants, several prestigious research and teaching awards, and numerous award nominations.

He blends over three decades of experiences in diverse roles – as an international-quality academic, research, and institution builder, alongside  hands-on corporate managerial and governance roles as an executive, member of the Board of Directors, and co-founder of startups.. He has been an advisor to numerous medium and large corporations, family businesses, and startups, and he has served as Principal Consultant to leading international development agencies. He currently sits on the governing and advisory boards of several listed and unlisted companies, startups, and social enterprises.

Professor Ray has taught in numerous executive education programmes and has designed and conducted many workshops exclusively for owner-managers, entrepreneurs, and C-level executives of companies in India, Asia, Middle East, Nordic and Scandinavian countries. Over the years, he has led over thirty C- level executive delegations to countries on every continent for high-level meetings with the ministers, high-ranking officials, multilateral agencies such as the WTO and ILO, Chambers of Commerce, MNCs, industrial organisations, research labs, and academic institutions.

Sougata Ray
Sougata Ray