Are Family-Run Companies Ready to Shift to New Generation?

The business world is discussing how the Generation Y, the generation born between  1980 and  1999, has changed working models and business conduct. Corporate companies all over the world have been making regulations on many areas from working hours to benefits and perks for this generation that has grown using internet and technology. Generation Y that has been growing in a period, when opportunities for education have increased and the world economy has been globalizing, tailors the working environment to his/her order rather than following corporate rules.

The situation is no different for family-run companies. As medium sized enterprises, numerous family companies that have been established in Turkey since the 1980s are preparing to hand over the management to the second generation.

However, it is not as easy as it is assumed that young executive candidates, who are better educated than the original founders and learning to do business at international standards, get accustomed to working in the OBI order.

Unlike the founders of the company, the young executives who will take over the business from their family have no opportunity to set up a system from scratch. Systems that run in an order, which conflicts with the education of young generation, and often fall outside the international business standards and lack a strong archived knowledge accumulated from the past create a big challenge even for those who have the motivation and education required for running family business.

Solution: A business partner that has a good grasp of the dynamics in Turkey and the transition to new generation processes

Medium and large sized enterprises have processes that run through conventional methods and depending on a specific person and even large sized enterprises often have limited resources and unclear goals. This is in stark contrast to the understanding of Generation Y that is trained according to standard processes and effective resource management. Thus, as an initial step, young leaders who want to take over the family business implement a strong ERP project.

Benefitting from an entirely local and national ERP solution that has a good grasp of OBI dynamics in Turkey enables the new generation of the family to learn the ropes better while tailoring the processes of the enterprise to the modern business world. Thanks to software solutions entirely developed from local resources, Login Software can customize business processes at international standards to the needs of medium and large sized enterprises in Turkey.

Thus, operational data can be recorded with a high performance infrastructure, knowledge can be accumulated without loss and system can be sustainable. With ERP Projects, enterprises that become independent from person paves the way for new generation executives to use their knowledge and skills more effectively and reach their growth targets more easily.