As a part of our Infinite Interview series, we are delighted to share our chat with Mr. Harshit Shah –Associate Director at S Kant Healthcare Limited.
It has been different times for all the sectors, including Pharmaceuticals Manufacturing – API & Formulations. It is a pleasure to chat a 4th generation entrepreneur based on his experience in the industry. A few takeaways from the chat below –
- Facts from the research say 13% of family businesses in India survive, and only 4% of such organizations survive to the 4th generation
- Family businesses need to be high discipline and should have a systematic approach in place
- Efficient decision making is a must
- Balancing the involvement and performance management of family members in accordance with the needs of business
- The governance framework and succession planning should be in place
- Adopting smart technologies and accelerating the journey towards digitalization and automation is a need for growth in today’s unprecedented times
Click here to check the video: https://youtu.be/Fr9SxIyGJ5E
We sincerely thank Mr. Harshit Shah and team S Kant Healthcare Limited for being a part of iFaber – the official newsletter of Faber Infinite and for sharing his valuable insights. Good luck!