Background:
Kapoor & Co., a family-owned agricultural goods provider in Punjab, has been operating for over four decades. Initially, the business was run by a single generation, but as it expanded, the family recognized the need for a more structured, multi-generational business approach. The increasing complexity of operations, along with a desire to include more family members in leadership roles, led to the realization that a shift in structure was necessary for the long-term success of the business.
Challenge:
The Kapoor family faced difficulties in defining clear roles for each generation. While the older members were still very involved in day-to-day operations, the younger members were eager to take on leadership positions but weren’t sure how to divide responsibilities or where to start. Additionally, there were challenges with communication, as different generations had varying ideas about the future of the company.
Solution:
FBTM worked closely with the Kapoor family to design and implement a family business governance structure that outlined roles and responsibilities for each family member. We introduced the idea of a family council to ensure regular communication and conflict resolution. FBTM also facilitated the creation of a mentoring program, where older family members could pass on their knowledge and experience to the younger generation. This helped bridge the generational gap and fostered mutual understanding between family members.
Results:
The introduction of a governance structure and family council created more clarity in leadership roles. Productivity within the business increased by 30%, and the family became more cohesive in their decision-making. Employees reported higher satisfaction, as the company became more organized and transparent. The Kapoor family successfully integrated multiple generations into the business, ensuring a sustainable future for the company.
Mohit Goyal
info@fbtm.in
+91 98111 63422
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