Building on a solid foundation of organizational cultural innovation and the deep integration of sustainable development, the family business has reached a milestone in its succession. This is not only a transition of family power, but also a critical opportunity for the company to enter a new era and achieve leapfrog development. The family business has meticulously prepared, striving to maintain its success through inheritance and forge a future through transformation.
1. Smooth transition of inheritance and handover
Refinement and improvement of inheritance plan
The company has repeatedly reviewed and refined its succession plan. In the training and selection of family members, the criteria for prioritizing both competence and integrity have been further clarified. For younger family members interested in participating in the company's operations, a more systematic and comprehensive development path has been developed. In addition to requiring them to possess solid professional knowledge and extensive industry experience, the focus is on cultivating their leadership, decision-making abilities, and a deep understanding of the company's culture and values. For example, younger family members are assigned rotational internships across core departments, starting with entry-level positions and gaining a deep understanding of every aspect of the company's operations. They are also assigned a team of experienced mentors, including family elders, company veterans, and external industry experts, who provide one-on-one guidance and experience sharing. During the selection process, a rigorous and transparent assessment mechanism has been established, encompassing multiple dimensions, including performance, teamwork, innovative thinking, and understanding and commitment to the company's long-term strategy, to ensure the selection of the most capable and promising family members to lead the company's future development.
The orderly progress of power transfer
Power transfer is a core component of the succession process, and the company has adopted a gradual, phased approach. First, at the decision-making level, the younger generation of family members is gradually increasing their participation in key decision-making meetings, transitioning them from spectators to participants and learning how to make sound decisions in a complex business environment. At the same time, older family members retain a certain degree of decision-making authority over key decisions, providing oversight and guidance to ensure robustness. As the younger generation's abilities grow and their experience accumulates, more decision-making power is gradually transferred to them. Regarding daily operations and management, through the establishment of assistant positions and joint management, the younger generation of family members gradually assumes specific management responsibilities and familiarizes themselves with the company's operational processes and management model. For example, in the marketing department, the younger family member initially serves as assistant to the marketing director, assisting him in developing marketing strategies and managing the marketing team. After accumulating sufficient experience, he officially assumes the role of marketing director. Throughout the power transfer process, emphasis is placed on maintaining operational stability to avoid internal turmoil caused by a change in power.
Comprehensive inheritance of knowledge and experience
To ensure the integrity of the company's knowledge and experience, the company has implemented a series of knowledge management activities. A corporate knowledge base has been established, systematically organizing and digitally storing key knowledge, including the company's development history, business processes, technical know-how, and market strategies, for easy access and learning by family members and employees. Experience-sharing sessions and seminars are also organized, inviting older family members and company veterans to share their valuable experience and strategies for coping with various challenges accumulated over their long years of operation. For example, a regular series of lectures on "Inheriting Corporate Wisdom" features veterans sharing their decision-making processes and responses to major market changes and crises, allowing the younger generation to draw on their wisdom. Furthermore, younger family members are encouraged to engage in in-depth one-on-one discussions with older generations to uncover hidden knowledge and experiences that are difficult to capture in writing, ensuring the inheritance of this valuable legacy and providing strong support for the company's continued development.
II. Strategic Layout for Leapfrog Development in the New Era
Embracing innovation-driven development with emerging technologies
During this period of succession, the company has keenly grasped the tremendous opportunities presented by emerging technologies and has made innovation-driven development its core strategy for leapfrogging into the new era. It has increased R&D investment in cutting-edge technologies such as artificial intelligence, big data, and the Internet of Things (IoT), established a dedicated innovation laboratory, and brought together a group of top technical talent from various fields. For example, it leverages AI to optimize product design and production processes. By analyzing vast amounts of customer data, it accurately understands customer needs and enables personalized product customization. It also leverages IoT technology to enable remote monitoring and intelligent management of equipment, improving production efficiency and reliability. At the same time, the company actively collaborates with technology companies, universities, and research institutions to explore innovative applications of new technologies in its business. By establishing industry-university-research alliances, the company accelerates the commercialization of scientific and technological achievements, enabling it to maintain its technological leadership amidst fierce market competition and drive its leapfrog development through innovation.
Optimize global layout to deepen market expansion
Following the succession, the company further deepened its market expansion and optimized its global presence. While consolidating its existing market share, it intensified its efforts to explore emerging and high-potential markets. Differentiated marketing strategies were developed based on the market characteristics and consumer demands of different regions. For example, in mature markets in Europe and the United States, the company focused on building a high-end brand and enhancing product value. This was achieved through collaborations with renowned local brands and participation in international high-end exhibitions, raising brand awareness and reputation in the premium market. In emerging markets such as Asia and Africa, the company strengthened market research to understand local consumer habits and purchasing power, launching more cost-effective products, and actively establishing close partnerships with local distributors and retailers to build a comprehensive sales network. Furthermore, the company paid close attention to factors such as global market policies, regulations, economic conditions, and cultural differences, adjusting its market presence and operating strategies in a timely manner to mitigate market risks and achieve balanced development in the global market, thus opening up broader space for the company's leapfrog development.
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