Tarun Khanna EP2
Guest is known for...
Tarun Khanna is a professor at Harvard Business School, where he studies entrepreneurship in emerging markets. He has taught courses on strategy, corporate governance and international business to MBA and Ph.D. students and senior executives. He also serves on numerous for-profit and not-for-profit boards in the US and India, and is a co-founder of several entrepreneurial ventures in the developing world. He was named the first director of The Lakshmi Mittal and Family South Asia Institute at Harvard in 2010.
Here's what I will learn...
Geoffrey Jones and Tarun Khanna co-authored the book “Leadership to Last,” which features interviews with iconic leaders in India and other emerging markets who have demonstrated leadership that has endured. The book delves into the insights and strategies necessary to build forward-looking and innovative organizations that outlive their founders. In this conversation, we explore these insights and their relevance to anyone seeking to build an institution that lasts.
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From the Podcast
Tarun speaks about the traits that separate the entrepreneurs that Build to Last from the rest. He calls out three elements. 1) Audacity of intent 2) Humility of demeanour 3) Steadfastness of Purpose.
Tarun speaks about what keeps the entrepreneurs going over the long term. He speaks about how family businesses have a fabric and provide a safety net that ensures that businesses endure over the long run.
Tarun speaks about how family businesses think about the next generation coming into the family business. He speaks about how sometimes the next-gen wants to pursue a different path and how they walk the tightrope of ensuring continuity versus tuning into the passions of the next generation.
Tarun speaks about how enduring families think of dealing with the question of the next generation entering the business. He speaks about how the more evolved families give the next generation an opportunity to actualize their potential and go on a process of self-discovery.
Tarun speaks about how Entrepreneurs think about the Principal Agency problem when it comes to recruiting CEOs. Entrepreneurs are often playing the “infinite game” with the enterprise while the leaders they hire are often there for a stint. He speaks about the distinction between how developed markets like the US deal with it versus how Indian companies often deal with it.
Tarun speaks about how Family businesses in emerging economies proactively fill in to take care of elements of Public Good that are not taken care of by the state.
Tarun speaks about how companies that have a self-imposed constraint (focusing on values, lower corruption or something similar) are likely to grow at a slower pace than a company that’s focusing on growth in an unrestrained manner.
Tarun expands on what the term Play to Potential means to him. He speaks about how given the human condition only about 7/8th of our potential is being tapped. He speaks about the significant unlock if this could be enabled