The ninth session of the “Inspiring Next Gen Talent” has been conducted by the Parampara Family Business Institute (PFBI) in collaboration with the GMR Varalakshmi Foundation (GMRVF) aiming to benefit participants with the knowledge and wisdom the engagement of the next generation in robust family governance and the importance of storytelling which includes researching the history of their family and business allowing the next generation to feel that they are playing their part in the history of Family Business.
“Today’s family business leaders and the next-gen family members must engage in regular conversations on family’s contributions, legacy, identity, values, and vision. The seniors need to be relentless, creative, and patient to effectively communicate with the next-gen for building awareness, infusing pride, and exciting and inspiring them to be responsible owners. The next-gen need to feel the urge and deep sense of responsibility to be the torch bearers of tomorrow.” deliberated Sougata Ray, while addressing the event.
Prasad Kumar concluded that the Intergenerational co-creation of a desirable future is of strategic importance in a family business. Trusting relationships and meaningful communication across generations are strategic ingredients of the family business.