08 Sep Getting Growth Back At Your Company
A multi-speciality hospital, well known and Successful ! Among the top five of its league !
Yet they were facing Threat of failing against increasing competition. Challenging times for second generation entrepreneurs.
Changing economies and paradigm have often posed a question for family businesses and for younger generation to understand how to bridge this gap.
Harvard Business Review talks about why 21st century will belong to family businesses.
However, the biggest question for a lot of family businesses including this group, who have been serving the industry for more that 30 years, was
How to protect the Legacy of their business?
In a two day Project Strategic Discovery workshop, we took the group through the fundamentals of “Design Thinking”.
Through workshop modules, all stakeholders went through the process of rethinking about essentials, non essentials, gaps and what was desired to achieve. Diving into the space of design thinking and aligning the core values, we looked at reinventing through the legacy and not leaving those set of values.
Strategic discovery workshop helped choose right building blocks.
– Took a realist review of current status quo making it very clear of why the change was eminent
Right interventions start with pin pointing the right problem. Some problems seem big, but they are only effect of a much deeper cause. Discussions went down right to the source and discussed how changes through time created the problem. Keeping the correct decisions intact, a crucial part of legacy protection strategy.
– Brought all stake holders to same page.
It is commonly found in family business where various members focused on different problems. It becomes imperative in such a situation to get them on a platform where all the problems can be addresses and prioritised. Once we have all the issues on board, it becomes very easy to address them point by point.
– Sorted out real needs and goals that contributed to value addition rather than looking what seems as a good idea.
As an engaged owner, one has many ideas and in an organisation, with each person having many ideas, it is important to sort them out in a way that adds value to the overall vision rather than what seems as just a good idea. Requirements or goals must be constantly evaluated through larger objectives to see if makes sense.
– Identified the true strength and value of groups’s belief and built a programme around it.
Patient centricity was the most important factor and a strength for this group. For decades, it had focussed on patient care and are well know in field for the value delivered. However, with medical field evolving and addition of new departments, user centricity was diluted in time. Strengthening this legacy was kept as a top priority and the programme revolved around it.
– Evolved the idea in a manner where the model stood out as unique making competition irrelevant.
Workshop took stakeholders into space of creation, where boundaries of preconceived notions were broken and using design thinking, a lot more new ideas were explored. Evolved models that were further discussed upon stood unique and certainly made the competition irrelevant, should they be implemented.
The outcomes of workshop gave not only new direction to the group but a roadmap to reshape themselves in all aspects and not just in terms of their building facility.
An exciting food for thought for everyone and preparation to make it work