There's a situation in the Company,
A Medium scale company has lost his Managing Director who leads the company, and he is the brain and Heart of the company.
Although the company has good client and reputation in the Market.
Now the situation is his daughter is fresher in the Business but she is willing to grow the Business.
So What Business Strategy she can use to get new Projects or Business in the market...???
What are the new Risks & Challenges in front of her...???
From where do she starts...???
Is the Selling his Father's Idea and Industry to someone is Good Idea...??? Saving Changes...
Just to comment, I teached this type of things and I helped organization to face this type of things from long time ago. Is a matter to searchi into the internet and learn about all those things that are outside there from long time ago withot fail in the trap of the new buzzwords. You need to know the phase in the organizational life cycle the organization is right now to understand the main goal to achieve, you need to understand the type of products and related it to the organizational life cycle to understand which of those products deserves to be invest on, you need to understand your customers to create your offer mainly for each business, yiou need to take a closer look to the organization and to understand that "employee are first" because they are "the face" of the organization, etc, etc. Go to Ackoff/Prahalad/Bunge to understand about organization as a system, go to Tom Peters "In search of the Excellence" and the seven S model, go to Porter´s Five Forces and Industry Analysis, etc etc. But remember: do not fall in the trap of new buzzwords. Saving Changes...
This is an unfortunate but common occurrence which happens when a founder has not planned to make themselves expendable before they are no longer around to help the company. Succession planning is a critical activity for the maturation of a company from being a startup to being a sustainable organization.
Hopefully the MD had a good, diverse, balanced team of reports who will now be willing to support the new leader, but if one of them feels they are better positioned to lead the organization or if the succession to the daughter was not supported by the MD's reporting team as a whole, there are troubled times ahead.
Interesting your question
Thanks for sharing
Your question is clearly about strategy
The important thing is, before making any decision to do the situation analysis.
For this you can use several tools, namely:
- SWOT Analysis
- Industry analysis based on Michael Porter's 5 strengths and value chain analysis
- BCG analysis (Boston Consulting Group that can be applied to the activity portfolio or product portfolio)
- G.E. analysis or McKinsey
At SWOT it is important to:
- Take into account the impact of technology on the business sector (VUCA World)
- Analyze critical success factors, distinctive competencies and competitive advantages for the company. Saving Changes...