In business, changes happen every 7/10 years and can be termed as incremental. But when in a family business, a patriarch takes a backseat and allows his sons to run the business he has started from scratch, exactly the same way as he did, he must be living in a fool’s paradise. So, it will change. A few things get most affected, as changes appear, one of them is People Management. Earlier generations dealt with their people with a lot of compassion, care and sometimes, emotions. People now are dealt mostly with efficient performance as per their slated KRAs. This change is not minor, it’s quite significant. But this change is visible across the board and across organisations in this generation.
So, people adjust. Not so long ago, credibility in a private organization was measured significantly on investments made to build infrastructure by the organisation. Like one of my business, a Business School’s accreditation process was measured by how many classrooms, of what size, and minimum acreage of land it had, a minimum of 2.5 acres. Having access to money was a significant criteria to accredit a B-School. The logic given was they are distinguishing the grain from the chaff. Wow! People like us, for whom “content” was key, struggled to get to the land and classroom requirements and when we did that, we were investigated very minutely, even by the size of classrooms, minimum numbers etc.
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