Family Business & Entrepreneurship Assignment Example | Topics and Well Written Essays - 1500 words

Family Business & Entrepreneurship - Assignment Example 2.1. Tata Group: In brief, Kuratko describes the Tata Group as â€Å"a well-known and one of the oldest family businesses in India, with its presence in more than 100 countries. Tata Group was founded in 1868 as a family business in textile industry and has expanded into various other sectors such as textiles, communications, software, engineering, materials, services, energy and consumer products†(2013, p.559). Some of Tata companies include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Teleservices, Titan, the Taj group of hotels etc. The total revenues of Tata Group are around $ 80 billion, most of which come from Tata companies outside India. While much can be said about the Tata group, the most noticeable point of argument is its future performance in the native and international markets after the appointment of new Chairman, Cyrus Mistry, who is part of Tata family through marriage and as largest shareholding member. 2.1 Point of study: Within the Tata Group, Tata Motors has been the point of attention both for the company and the media in recent times, especially after their acquisition of Jaguar and Land Rover (JLR) from Ford Motors, under the chairmanship of Mr Ratan Tata, following Ford’s failure to generate profits in the European markets. Reports indicate that Tata Motors, which was running in losses during this acquisition, closed the last quarter of 2013 in impressive profits in their European subsidiaries under the chairmanship of Cyrus Mistry (Sahu, 2014). While this is good news for the Tatas in European markets, their Indian business continued to report losses and weak demand with a 36% fall in volume and 27% fall in revenues. To understand how family members’ commitment to the business translates into growth and profits, it is important to understand the nature of entrepreneurship exercised at the Tatas. This will also probably highlight underlying