BW Businessworld Young Entrepreneur Summit 2017 was held at Le Meridien, New Delhi on 10thJanuary 2018, which was an interactive and insightful platform endeavouring to generate interesting debates on issues related to Indian Entrepreneurial Ecosystem.
The dynamic young biz icon, Manasi Kirloskar, Executive Director & CEO, Kirloskar Systems Ltd. was invited as a key speaker at the prestigious summit and spoke eloquently on the subject “How difficult / easy it is to drive a successful family enterprise ?”
“Power is a result of competence and performance. The competitive and tough environment demands it. Family businesses therefore, have to evolve. Many break out into smaller groups, bound by the desire to carry forward the legacy but also to develop their own business models and methods. Research demonstrates that less than 30% of family run businesses survive into the third generation. I am generation number 5 of a 150-year-old business conglomerate. However, it is important to remain relevant at all times. Business models, strategies, processes and ventures will continue to evolve with time. Carrying forward a legacy is important but disrupting legacy is vital”, she said.
The summit elicited an overwhelming response with stalwarts from various industries, members and guests attending the daylong session.