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HariPrasad and His Family Shop
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| Words: 1365 | Submitted: 11-Mar-2012
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DescriptionCorporate Governance case analysis HariPrasad and His Family Shop
HariPrasad and His Family Shop
HariPrasad was sitting on the balcony of his ancestoral house, with his wife BishnuPriya next to him and sipping his favourite cup of hot chocolate – a drink he loved. It was evening and he had just returned from his shop. These days, with advancing age and with his sons maturing, HariPrasad no longer felt the need to spend long hours in the shop. But today he was particularly worried. In fact a number of thoughts were racing through his mind for the past several days.
The couple was debating, if the time had come to let his two sons, HareKrishna and HareRam to take the full responsibility to run the Bhagyalakshmi Stores. As they debated this, the past years raced past his mind. It seemed only the other day when he, as a small boy was helping his father at the store. It was then a nameless small street corner grocery shop. In the meanwhile, his father passed away. With perseverance, business sense and diligence, HariPrasad was able to grow the family shop. The shop expanded and became a store; the variety of merchandise in the store increased. He named the shop Bhagyalakshmi Stores after his mother. Hariprasad’s honesty, integriry and carefully to his customers and and suppliers, he would earn their loyalty and confidence. As his business improved, he was able to set up a couple of Bhagyalakshmi Stores in the neighbouring localities too. But Hariprasad was aware of his manpower shortcomings and of debt. He never borrowed. This restricted his business expansion plans. But he and Vishnupriya were contented with what they were able to achieve within their limited means. They were proud that from the earnings of the shop and without borrowings, they were able to run the family well and give reasonably good eductaion the two children.
HareKrishna, the elder son, always wanted to be an engineer, but was not good in his studies. After scraping through the course, he felt that he would be no good in any engieering job and best this for him to do was to join his father in the family business. What Hariprasad liked about HareKrishna was his business “gut” – HareKrishna could almost intutitvely sense what would works for business. But Hariprasad was always aware of HareKrishna’s fun loving nature which of late had become a bit colourful too. He was also was also making good use of his looks and the purse, as he got more involved with the business. Hariparasad had not failed to notice this. But he could not help being an indulgent father.
Enterprising as he was, HareKrishna rapidly expanded the family grocery store, ...
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