In India..Can family owned business models create sophistication & work like true corporates??

As of now ,it seems far from the true corporate way since the structuring of organization is done in a manner to safeguard interests of the family inly.The company grows in sense of capital but the thinking has'nt evolved.Various powerful sounding designations are created and people with high pay packages are seated here but there role is mere management while the right to take decisions rests with the owners.Often the logic behind a plea is also ignored and ego wars keep going on between ranks,old timers Vs new entrants.

To cite example ,DLF  has grown mammoth in size but the working style has remained same.Decisions with foresight gets scraped off at dinner table.And if the the family decisions /way of functioning was right ,the downfall would not have been so steep.After all the recession was not born last year,its a cyclic industry,what is required is to plan for future and manage change without heavy jolts.

It branched into various streams like hotels/resorts/convention centers/Multi level car parks/luxury retail but to no avail,no significant addition to bottom-line,instead the image got marred after continuous pullouts.CULPRIT- old way of working just to squeeze profits ,turning blind eye to consumer grievances and no clear pragmatic road-map.