To understand the underlined expressions from the background, let’s break them down:
Emerging multinationals: This refers to companies that are expanding their operations and influence beyond their home country and becoming global players in multiple markets.
The succession of the Tata family: This refers to the process of transferring leadership and control of the Tata family business from one generation to another within the family.
Successor: A successor is an individual who is chosen or designated to take over a position or role after someone else, often within a family-owned or closely-held company.
Transit from family leadership to professional management: This describes the shift or transition that occurs when a family-led business moves away from being managed primarily by family members and begins to adopt a more professional management approach with non-family executives.
Business cronyism: Business cronyism refers to a practice where individuals in positions of power favor their friends, relatives, or close associates in business dealings, often at the expense of fair competition and merit-based decision-making.
By understanding these expressions, you can gain better insights into the context provided in the background information.
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