Is that really valid? Are there no "great" companies that are not giants by size, but maybe giants by reputation and contribution to society?
Small Giants (Penguin, 2016), a book by journalist Bo Burlingham, is worth a read. The book is a chronicle of "small giants" which, quietly under the radar, have rejected the pressure of endless growth to focus on more satisfying business goals. Consider as examples Conzerv India (sold to French electrical major Schneider), Galaxy Surfactants (now a listed company), Microland (a private global technology infrastructure services company, approaching its 35th anniversary and four times recognised by Gartner Magic Quadrant) - none of them is famous or perfect, but their business conduct appears exemplary! Maybe they qualify as Indian “small giants".
Indian economic develop ment depends crucially on small enterprises and family-managed businesses. They have one distinguishing feature: Family-managed businesses see reputation as their principal asset and currency. Every family may not manage this aspect perfectly, but many do. That is to be cheered. Families manage businesses for legacy. For them the valuation is an outcome.
This story is from the March 23, 2024 edition of Business Standard.
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This story is from the March 23, 2024 edition of Business Standard.
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