The young generation of business tycoons of India is relatively frugal in healthy or depressing times; they are judicious about capital expenditure. They carry less debt, they show surprising level of diversification, they are more international and they are able to retain talent better.
They are facing a huge challenge from successful generation of entrepreneurs and at the same time, they have unprecedented opportunity to harness the power of technology to boost their already thriving businesses further.
The current generation entrepreneurs are professionally trained, smart, booming with ideas, willing to earn their stripes in the field and opportunities that lie ahead. The new generation has to compete with the winds of change. They have earned education from Ivy Leagues and are willing to be mentored by professional managers.
Business broadly depends on the three key factors: Ambition, Innovation and attracting the best talent. The every next generation is infusing new entrepreneurial energy to take their business to the greater heights.
Some of them are much focused, have understated aggression and an eye for detail. They are gaining new experiences by working across multiple functions in the company. Like Rishad Premji, who oversaw merger & acquisitions, and investing in startups.
With the quick learners, the new enterprising generation is an agile thinker, quick executioner and team builder. Another example is Kirloskar’s son Alok, who has an avid interest in knowledge management and new technologies, and thinks about the society. The new leaders are not the only ones who have a tenacious grip on the challenges that they face, many of them have even gone steps ahead to get excel in what they do. The next generations of entrepreneurs have global exposures and ambition for bigger opportunities.
After joining their respective platforms some learn from the day-to-day dealings of their father or by working at senior position at various divisions of the firm. Scions in family business bring the best of both worlds. It is always good to put them through grind before giving them higher responsibilities.
The next generation of India in-corporate will find it challenging while managing business, but they seem to have their hearts in right place that means they are right in decision making, which is good news for shareholders, employees, the industry and nation as a whole. Their achievements are the true stories of inspiration.
This generation of rich legendary parents is inspiration to budding generation of upper-class families. In private universities students are from well of families and their main aim is to do business or grow their family business. Once they have degrees they are more equipped to take challenges and become the part of changing world scenario. At Sharda University, which is leading global university of India, professors and other members teaches to be ambitious, innovator, good at interpersonal skills and fine player at international level. Sharda gives lot of international exposure and encourages start up firms and give backing to business oriented ideas. Once student have degrees they are at more stable platform to run family business or to start new businesses.