YCH Group How to Remain an Innovative Family Business Across Generations

YCH Group How to Remain an Innovative Family Business Across Generations

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“As the world’s number one global leader in family business management, we believe that the success of our family business can be built on solid foundations through a commitment to innovation. This means that family businesses must always adapt to changing circumstances, market trends, technologies, and demographics. To keep ahead of the competition, family businesses need to be innovative in all aspects of their operations, from operations to marketing, and from management to workforce engagement. To achieve this, we recommend the following four essential practices: 1.

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In 2021, the COVID-19 pandemic hit every corner of the globe. As businesses struggled to keep operating amid the crisis, it opened a window for family-owned businesses like YCH Group. Like many other companies, YCH Group faced challenges. Our business model relied on our founder’s expertise, and his death meant the business would die with him. However, we kept our family-run business alive. Adopting a strategic mindset At YCH Group, we adopted

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In the past couple of decades, companies across different industries and sectors have recognized that their success in the long run rests on the shoulders of an innovative family business. Continued In this case study, we’ll examine how this concept can be applied to one family business that’s grown and thrived in the face of the changing environment. The Story: The YCH Group of Companies (YCH) is a family-run business in South America that’s been in operation since the 1970s. The family that runs Y

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YCH Group is a family business that started in 1975. We offer a vast range of products to meet the ever-evolving needs of our consumers. Our company has been recognized for its successful growth in the past five decades, and today it is a leader in its segment. We’ve always been open to changing with time and have incorporated the best practices in our operations. Our leadership approach is focused on innovation, creativity, and collaboration. We know that our team has a unique ability to make connections across generations that enable

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In business, like in family, it’s about passing on the best qualities of the old generation to the next. This may include the traditional approach of family businesses, where parents pass on the values, leadership and innovative thinking from one generation to the next. Or it may involve the of new thinking and innovations from younger members. It’s important for such families to remain innovative to survive and grow. Here are a few ideas: First, the leadership: In YCH, the eldest daughter, Rupi, is CEO. She’

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As the CEO of YCH Group, I’ve experienced firsthand the benefits of a family business. Despite its long history, the Group remains innovative across generations and has succeeded in adapting to changing times and evolving markets. In this case study, we will highlight the key practices and strategies that have led to such success. First, we can summarize our key practices: 1. Encourage individuality: At YCH, our family members take ownership of their unique talents and ideas. This encourages creativity and ensures the