There are four important dimensions which makes an industrial organization or company, an institution. Longevity, common practices characteristic of the people working in the organization, the size/ numbers of such people and the influence that the organization is able to wield on society at large
Indian culture is dominantly characterized by femininity, where decision are based not only on facts, but also on relationships and emotions, collectivism and high power distance
"Was the son or daughter obligated to join the family business if he/ she felt that the business was not ethical?"
Family managed businesses face the eternal conflict between considering the interests of the family against the interests of the business