Passing the Baton: Role Transition of B. K. Jhawar Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Most family businesses do not last long. Only a third are able to survive the transition from the first to the second generation. An important issue in maintaining the family business is the management of a row. Most of the sequences in the first place, not because the first generation of the founders of hard to let go or go out of business, as they approach retirement age. As a result, they are unable to prepare the next generation successor to the role of leader. Founders often fail to plan the sequence in a number of different reasons, such as lack of other interests outside of work, psychological identity with the firm, and the fear of aging and death. For these reasons, the retirement of the founder of the business is often portrayed as a negative event. Continuity, in turn, is often seen as a phase of crisis and upheaval, that business must overcome. However, this need not be so. Retirement can provide new, more exciting, stage of life, while the sequence can be seen as a strategic opportunity to revive the business. This case involves an experienced business leader, BK Jhawar (BK), the founder of the Usha Martin Group (UMG), which has successfully coped with the twin challenges of retirement and succession. By the time he reached the retirement age, BK created a social enterprise (KGVK), and his second and endless career option. Before completely moving away from the business and move to his new role as a full-time, BK produced the second-generation of business leadership and effectively passed the baton. "Hide
by K. Ramachandran, Alexander Mathew Source: Richard Ivey School of Business Foundation 8 pages. Publication Date: October 26, 2011. Prod. #: W11395-PDF-ENG