Business situations, scenarios and environment are changing drastically all over. Competition is rapidly increasing and making organizations do a double take on their strategies and tactics. With increasing competition comes the increasing need for value differentiation among the organizations to better stand out. And this is driving the increasing cases of professionalisation in family run businesses.
India is no different. And India has a higher percentage of family run businesses. Dynasty run businesses are on the decline and increasing professionalism is being thrust upon these organizations - either by the promoters themselves or due to extraneous circumstances. In such a scenario there is huge culture shift that happens in an organization and the resistance to change makes this shift all the more difficult. We at Lakshya have been advising and taking organizations from one phase to another with least possible disruption. We help organizations identify the right heirs (whether within the family or outside) to the head the organization and then building the new manifesto for the organization. We prepare the blue print of leadership planning and set in motion a process that is long term.
Business heirs are not made in a day - especially in situations when it passes on from one generation of a family to another. There is resistance from every quarter possible - from credibility to actual performance. Lakshya has been mentoring business heirs to take over the reins of the business through induction into various aspects of the business at the right time.