Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Length: 10 pages
Data source: Field research
Share a link:
https://casecent.re/p/128493
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Abstract
The case charts the past 30 years in the history of Indorama Ventures Plc, an ethnic Indian-owned family business expanding into Southeast-Asian markets including Thailand. The company has continually drawn on and reinterpreted its story of past adversity as a powerful source of personal, family and corporate leadership. This makes its story stand out, particularly in a cultural context that is typified by a strong preference for looking into the future rather than the past as well as a tendency to gloss over past mistakes and misfortunes. Indorama Ventures’ track record of cultural sensitivity and social responsibility allowed it to start the ongoing process of building a truly global brand. In addition, the company set down clearly articulated, long-term ownership rules which entrust the next generation of the family business owners with investing rather than just managing roles.
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Abstract
The case charts the past 30 years in the history of Indorama Ventures Plc, an ethnic Indian-owned family business expanding into Southeast-Asian markets including Thailand. The company has continually drawn on and reinterpreted its story of past adversity as a powerful source of personal, family and corporate leadership. This makes its story stand out, particularly in a cultural context that is typified by a strong preference for looking into the future rather than the past as well as a tendency to gloss over past mistakes and misfortunes. Indorama Ventures’ track record of cultural sensitivity and social responsibility allowed it to start the ongoing process of building a truly global brand. In addition, the company set down clearly articulated, long-term ownership rules which entrust the next generation of the family business owners with investing rather than just managing roles.