Governance in Manu bites (my family business), is under my father (COO) while the major decisions are taken by my grandfather (CEO). The governance has little distribution of power as all the major decisions are taken by these two, however, the branch managers take minor decisions relating to the respective branches. The governance is based on power, respect, transparency, clear management, and shared family values.
The board needs more involvement from outer-family executives for further improvement of governance by the inclusion of different ethinicities, cultures, and upbringing will help in shaping the governance to be diversified and will as well help in the development of different ideas. This will contribute to the growth of the business, and will as well help the future generation as the involved experts will introduce the path towards growth and success.
Privately-run companies ordinarily take on more improved governance as they develop and turn out to be more intricate. governance serves to actually and effectively administer and deal with the privately-owned company while watching out for vital development .