Next-generation leaders stress on preserving culture
The next-generation leaders of family-run enterprises on Monday stressed preserving their core values while embracing agility, diversity, innovation and technology as they navigate leadership transitions in their legacy businesses.
Participating in a panel discussion, Lakshmi Venu, Vice Chairman of Tractors and Farm Equipment Ltd (TAFE), Rama Kirloskar, Joint Managing Director of Kirloskar Brothers Ltd (KBL), and Laxit Awla, Executive Director and CEO of SAEL Industries Ltd, shared their perspectives on leadership, succession, workforce diversity and the evolving business landscape.
Venu, who took over as Vice Chairman after working alongside her mother Mallika Srinivasan for nearly two decades, said credibility at TAFE had to be earned rather than assumed.
One of the most important lessons she learnt while joining TAFE was to first understand the organisation’s culture and values before attempting to drive results, Venu said.
“The best starting advice I received was to deeply understand the culture and values of the organisation and build relationships. Slow can be fast,” she said.
Businesses must retain their values while remaining agile enough to adapt to rapidly changing realities,” she said at “Beyond Legacy: How the Next Generation is Redefining Leadership”, an event organised by All India Management Association (AIMA).
She said companies benefit from varied perspectives drawn from different regions, socio-economic backgrounds and experiences.
According to Venu, organisations should reflect India’s diversity and create opportunities for people from different backgrounds, including farming communities, as this enriches decision-making and strengthens business outcomes.
On gender, Rama Kirloskar said it was never a distinguishing factor in her family-run business.
“In our family, I think there’s never a distinction between men and women in the business, either working in the company or leading the business,” she said, adding, “At the end of the day, it’s only the results that matter”.
KBL has successfully deployed women across traditionally male-dominated operations, including running an all-women factory in Tamil Nadu that manufactures pumps for household and agricultural applications, she said.
Kirloskar said leadership in family-run enterprises requires balancing the wisdom and experience of older generations with the energy and drive of younger leaders.
“I truly respect the wisdom that the older generation has, while the younger generation brings drive and energy. Teams that combine both perspectives tend to perform very well,” she said.
Echoing her views, Laxit Awla said businesses must preserve traditional values while remaining open to emerging technologies and changing business environments.
While artificial intelligence is becoming a major discussion point across industries, its practical applications in sectors such as renewable energy and agri-waste management are still evolving, he said.
“Companies definitely need proactive work towards AI and new technologies, though we are yet to see more substantial and concrete changes led by AI,” Awla said.
Awla, whose company SAEL operates biomass-based power plants, linked Delhi-NCR’s winter pollution to talent retention challenges.