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Next-Generation Transition

Next-Generation Transition

As founder families move to siblings and cousins’ generations, a smooth transition of leadership and ownership becomes critical. Passing the baton to the next generation is a daunting challenge, many a times resulting in family feuds and business failures.

Every owner-family has its unique culture, values, and entrepreneurial DNA. Generational transition is about transferring values and legacy along with leadership, ownership, and decision power to the succeeding generation. Business transition from one to another generation is a journey that requires planning, preparation, and practise.

At Equations, we serve single and multi-generational families and guide them through many challenges including transfer of leadership responsibilities to capable successors. We help our clients develop a suitable transition strategy, address various risk factors, and take decisions in the best interest of the business and the family.

We work with owner-families to enable an effective generational transition.
Our services are:  

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Planning the Transition

  • Objectively evaluating expectations, challenges, capabilities, and willingness of both, senior and younger generations to go through the transition process
  • Creating an environment for family members to accept and adapt to changes, express their consent and disagreements freely
  • Developing a comprehensive Transition Plan taking into consideration successors’ interest and readiness, business strategies,  complexity

 Managing  the Transition

  • Developing systems and processes to execute Transition plan cohesively within the family and the organization
  • Defining/changing roles and responsibilities, developing accountability and performance norms of successors, selecting and mentoring non-family CXOs
  • Recommending restructuring or splitting of ongoing businesses, adding new ventures, incubation fund in case of multiple successors or family branches

  Next-generation Development

    • Assessing competencies and capabilities of next-gen members to identify their personality and  leadership potential
    • Designing Individual Development Plans for next-gen successors,  enhancing their sense of belongingness, and developing skills for current and future roles 
    • Conducting a time-bound Induction program for younger members to familiarize them with business basics, organizational culture, and people management 

  Professionalizing the Work Culture

  • Creating a Code of Conduct and a formal Family Board structure for good governance and effective decision-making among different generations of family members and key executives
  • Facilitating family members to separate family, management, and ownership roles by creating transparent policies on responsibilities, rewards, and recognition
  • Mentoring successors, Board members, and key executives to align vision and goals, enhance business performance, leadership skills, and build a professional work culture