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Scientific approach as per need of business life cycle
Family businesses represent a significant and growing part of the global economy. While the family businesses and nonfamily businesses share many strategic and operational concerns; at the same time, they face unique challenges. The family-owned business (FOBs) mainly has to deal with how to balance family relationships and growing business demands. In these situations how does the FOBs protect what they have worked so hard to build?
Many researches has proven beyond doubt that businesses go through a predictable lifecycle from being a start-up to being a professionally managed corporation at its prime. Our work addresses the need of the FOB at its specific stage of the business life cycle, in order to evolve it to the next level and eventually to prime stage. Dr. Ichak Adizes of Adizes institute has done pioneering work in the field of business life cycles and we are happy to provide gist of it here to better understand our services to FOBs.
We help FOBs to..
- Evolving the “Why” of the family business – we help define the purpose that the family is striving to achieve by being in business because nothing binds family better than a shared purpose.
- What is the appropriate governance structure and what role each family member needs to play in the effective and efficient running of the business? Our take on the governance is that the strategy of FOBs should have adequate backing of structure both from a family member as well as professional managers.
- How should the FOB manage succession planning as well as generational transitions? We believe that the success of FOB is in smooth transition.
- We create a roadmap of the future of the FOB taking into consideration above aspects as well as other unique challenges faced by FOBs.
- We also work to implement the roadmap if desired so by the FOB.
- How to build capability in the family business team?
- How to attract and retain the best nonfamily talent?
- How should the value created by the business be shared among the family?
Do you want to take your family business to the next level?
Case Studies
Explore our insights, solutions and impact from our past projects.
Hoshin Kanri
Growth of a Dairy Company
Sales Marketing
More service with sustainability
Sales Marketing
Best year of a Decade
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Quick Contact
Need Help?
Please Feel Free To Contact Us. We Will Get Back To You With 1-2 Business Days.
info@hmv.org.in