Politics, Film world, Business, Professional services (Doctors, Lawyers, Chartered Accountants). These are some of the areas in which dynasty impact (I have still not come to dynasty rule) is felt. Let me take each one of these fields and discuss about them.
Free for all in POLITICS
There is no entry criteria. Since most politicians prefer their kids to enter politics, it is a win win situation for the son / daughter and the father. Further, the politician’s kids may not be educated and hence even if they are asked to work, they might not be able to find a job….hence they are left with no alternative other than to pursue politics. However, there is a new brigade - the 20 something MP’s,often from royal lineage….claim to be MBA’s / graduates from top US schools (who is going to verify whether they really studied at these universities?) For all you know they might have just visited the US and claim that they are from the Ivy League. Although it is good to see highly educated youth entering politics it is irritating to see these spoilt-brats representing the youth in Parliament.
Mind Your BUSINESS
The Owner Vs Manager debate has been going on for ages. Indian Corporates are increasingly moving towards the model of Professional Managers running the show (so that shareholder interests are safeguarded). We see that happening in companies like Murugappa Group, Eicher etc.
The biggest buzz in the Indian Biz World (after the Reliance “Big Fight”) is who will succeed Azim Premji as the next Chairman of Wipro. Vivek Paul might be a strong contender. However Vivek Paul is way too flashy and hence may not suit the conservative corporate culture that Wipro is known for. Premji owns about 85% of Wipro and induction of family blood into the top management might not go down well with the shareholders. Further, Premji’s sons are still too young to don the top role @ Wipro.
The so-called Professions
They know how lucrative their profession is and are in the best position to decide whether it is worthwhile to “buy” a Doctor seat for their kid (in case their kid doesn’t get in on merit basis). The parent doesn’t really bother whether their kid is interested in the Medical Profession (god save the patients). The parent might look at it from a financial angle – I have invested $XX in building this clinic / hospital and what are the ways in which I can recover this investment. Not much importance is given to the career aspirations of the kid.
ODD EATER (aka AUDITOR)
Most of the CA’s in practice would prefer their kids to takeover the dad’s practice as the clients might move to another auditor if the practice is discontinued. Nobody really bothers whether the kid is really interested in the CA profession. This situation is very similar to a Doctor profession, except for the fact that one can’t buy a CA degree by paying a princely sum. This was the situation atleast till the time I completed my CA. Things might have changed now - a payment seat for a CA might not be far away. Tomorrow you might see an ad near T Nagar Bus Stand (in Chennai): Vendhan All Pass Tutorials 10th Pass 12th Fail Join CA.
The clients of Auditors are safeguarded to some extent as all the candidates need to go through the rigorous exam process. This doesn’t rule out the fact that there could be some dumb CA’s.
I’m not good in arguing against lawyers. Hence I leave this section to your imagination. Fill up the blanks. These guys give so many interviews to Indian News Channels. When do they really work?
Tinsel town is the mother of dynasty rule.
Scene 1: You switch on TV and you see a ugly looking hero dancing with a pretty damsel in an exotic foreign locale. Chances are that the hero will be the son of a producer, director, actor, and financier. A study by Gartner shows that 80% of new entrants to the film world have some sort of prior association with the film industry (don’t ask stupid questions like – When did Gartner start doing such studies?). Looking at the new entrants to the Tamil film world in the last 5 – 10 years, IMO only actor Surya and composer Yuvan Shankar Raja stand out. But there are so many also-rans who are blocking the entry of many budding artistes.
[The author is a Shattered Accountant (read CA) and an yeMBeeA from AiAiAmBi (read IIMB). He runs one of the most powerful mafia’s in South East Asia. The views (if any) expressed here are his own and not necessarily reflect the views of his employer (if he happens to be employed). The above thoughts are based on the author’s understanding of the various industries / professions. If your feelings echo with some of them mentioned above, you can express your gratitude by clicking on the Google Ads on the right side.]
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