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Learn from the Tata-Mistry issue

By: Vikram on November 07, 2016

Post the boardroom-war, B-schools and management graduates lookup to this incident to derive a few lessons from it. While these are thought about to be discussed in classrooms to have a perspectives on various things that went wrong, sufficient case studies are also sought to be developed from it to enable effective brainstorm and possible solutions that could have been come up with to altogether divert the issue.

Overall, the process of succession is tricky and warrants a lot of factors to play an important role in both the outcomes, whether favorable or unfavorable.

·         The scope to have clashes in terms of discussion and decision-making is needed to be averted. While it is true, that honoring past employees by the new successor is a difficult and a sensitive issue, he is entitled to diplomatically handle it.

·         Clear communication at the successor's end is required in terms of the vision he sees for the company and how he would be moving that forward in consensus with the stakeholders in the organization and beyond.

·         A new leader should also be given his own space and time to get comfortable with the role. At the same time, he must also make most of this opportunity to get trusted by the family and be accepted in his role.

·         Communication and repetitive interactions are the two predominant ways to earn acceptance among everyone and portraying decisions and actions as a collective effort would enable getting into the shoes of a leader in a hassle-free manner.

While, these are a few points on the face of it to be understood, scope exists to understand the issue in-depth which would of great help when facing questions in competitive exams like XAT. Hence it is of utmost importance for candidates to take a note of this issue to confront questions framed on the same.

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