SLIDE 1
PROFESSIONALISATION IN FAMILY BUSINESS
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Professionalisation is like Yoga or Jogging
- Every one agrees that good for health.
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- Every one agrees that good for health.
- and yet …
- Few do it…. do it well …. Made it a way of life.
PROFESSIONALISATION IN FAMILY BUSINESS IN FAMILY BUSINESS 1 - - PowerPoint PPT Presentation
PROFESSIONALISATION IN FAMILY BUSINESS IN FAMILY BUSINESS 1 - - PowerPoint PPT Presentation
PROFESSIONALISATION IN FAMILY BUSINESS IN FAMILY BUSINESS 1 Professionalisation is like Yoga or Jogging Every one agrees that good for health. Every one agrees that good for health. and yet Few do it. do it well
SLIDE 2
SLIDE 3
PARALYSIS ???
- r
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- r
PANACEA ???
SLIDE 4
Family Venture From Molecule to a Business
- When complexities grow.
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- When complexities grow.
- When business beyond self.
SLIDE 5
Who is Professional
- A non-family Manager ? CA/MBA ?
- Or one with
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- Or one with
- Special training
- Rationale decision maker
- Value neutral
SLIDE 6
Family - Professional dynamics
DIFFERENCES
- Training and values
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- Worldview and the assumptions
- Organisational and socialisation experiences
- Management style and method of operation
SLIDE 7
Family - Professional dynamics
IMPLICATIONS OF THE DIFFERENCES
Family member Professional
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Decision Intuitive - right brain Rational - left brain making Personal interventions Systems dependent Driven by Business/family Organisational interface needs Relate with Personal Impersonal Employees
SLIDE 8
The Issue
‘OR’
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v/s ‘AND’
SLIDE 9
How to Professionalise ?
The Alternative - I
Imbibe Professional competence within members of the family, most viable when
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most viable when = potential in family = continuity in values is desired Advantages = rational and judgmental - benefit of both
SLIDE 10
How to Professionalise ?
The Alternative - II
Induct Professionals most viable when = limited family options
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= limited family options flip side = likely to create tensions within the organisation = discontinuity in ‘values’
SLIDE 11
Entrepreneur Outside Professional
The Concern
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Family Professional Cultural change
SLIDE 12
How to make it work ?
- Take time to socialise in the family ways
- Communicate clearly the values required
- Articulate ends rather than means
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- Articulate ends rather than means
- Tie the interests
- Encourage to become part of the community
- Have role clarification and team building sessions
SLIDE 13
To simplify …
- It is like a kidney transplant
- You need to make sure that there is proper match
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- You need to make sure that there is proper match
- You need to prepare both the body and the ‘new’
- You need to ‘rest’ – pay attention.
- Once settled, life is different.
Ever after …….
SLIDE 14
Finally – SPJIMR submissions
- Sustained growth requires transition
- Possible to have a synergistic blend
- Internal & External hurdles make it difficult
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- Internal & External hurdles make it difficult
- How and when - No ‘one size fits all’ strategy
- Transition is a process – perfected over time
- Need to be planned carefully and