Tuesday, 17 February 2015
Is legacy weighing over growth in your firm?
There is a widespread belief that most businesses slow down, or plateau as they transit to third generation. I have had interactions with many such family business owners who believe there is something that begins to blow headwinds with time. Most unclear about what that is all about, and attribute to competition, pricing, consumer preferences or a sales issue.
The issue is much more internal than external, as there is a constant struggle and conflict between legacy and its contemporary relevance. Inertia or homeostasis suppresses action more often than not, and resistance to change begins to impact the organizational ability to be adaptive. Hardening of belief systems and the glorious past only deter forward movement into the future in the newer context. These could be classical symptoms of accelerated obsolescence and fading malleability of the firm to the evolving context.Experiencing something similar in your business? Interested in exploring possibilities and initiating changes to ensure relevance, longevity and sustained performance? It may be a good time to seek professional help in order to navigate through this phenomenon and make course corrections. Visit ( www.thegrowthevangelist.com ) or call +91 9893222222 in confidence.