An Indian Family History: The Munjals and the Hero Group

From tiny beginnings in the 1940s the North Indian Munjal family creates the world’s largest bicycle manufacturing company. Through diversification into other areas of the transportation industry, including joint venturing with foreign companies, it emerges as one of India’s largest groups. In the 1990s family management styles are challenged by rapid economic change.

An example of an emerging market family group. Professionalisation of management and succession issues as the second and (overseas educated) third generation takes up key positions. Challenges of maintaining focus in a country undergoing liberalisation and dramatic economic change.