Abstract
Will induction of professionals contribute to the development of enterprises in the diamond industry? What are the problems and prospects associated with professiona]izing family-managed enterprises? These are some of the questions that the diagnostic case, Diamond Star Company, Bombay, raises.
In this Jeature, experts from the academic world and diamond industry provide us their diagnoses of the case.
Sheth points out the need to rectify the mismatch between the working style and mutual expectations of the owners and professionals to facilitate the induction of professionals in diamond business enterprises. Vora elaborates on what professionalization means and the problems ofattracting and retaining talented professionals in small business units.
Jhaveri, owner of a family-managed diamond enterprise, explains what role professionals are expected to perform. Given that the industry prizes secrecy, trust, and loyalty, Kashyap argues that it may not be ready to open its doors to outsiders.
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