In the age of startups and huge competition among businesses, the question of business survival and continuity is quite important. In the recent covid 19 times, people lost their leaders and even successful enterprises have no option to lead or run the business operations. Such a gap , enforce us to think about generating a pre-planned leadership succession who can handle any emergency business needs.
The recent Bisleri case to sell its brand ( Indian popular brand for Packaged water) shows a failure to get an internal successor of family business. It can be taken as important reference for succession management importance in corporate world. The current business leaders must frame a plan related to have leaders in pipeline so as to ensure business continuity in long run.(Abhishek Kr. Pandey , Researcher in the area of Succession Planning & management , 2022)
I understand that Indian family owners may prefer professional managers in such a cases where internal family ties fail to handle business opportunities and challenges. A going concern concept of business must be adopted with optimizing insider versus outsider mix of talents.