Answer to Question #320562 in Management for Namgae

Question

what are some immediate challenges faced by bikanervala at this stage? Do you thing it needs professionalize it’s business in order to meet these challenges?

Answer 1

Bikanervala is a manufacturer of Indian snacks and sweets and restaurant chain which had a goal to put Indian ethnic food in a prominent position globally. Its initiatives taken over the years had ranged from introducing new cuisines to streamlining processes, systems and standards that helped the firm keep customers happy. Through these initiatives, Bikanervala had been able to diversify and grow both in India and internationally. But the food services industry faced a set of challenges; 

• Defining the right strategy.
• Lack of availability of skilled workers.
• Bikanervala Cuisines business model can be easily replicated by competitors.
• Little experience of international market – Even though it is a major player in local market, Bikanervala Cuisines has little experience in international market.
• Age and life-cycle segmentation of Bikanervala Cuisines shows that the company still hasn’t able to penetrate the millennial market.

Yes, bikanervala needs to professionalize it’s business in order to meet these challenges. Such a business should start by determining which of its distinctive attributes, its entrepreneurial skills, its spirit, or its special strengths have enabled the enterprise to thrive. It should then adopt the characteristics of a modern corporation that will augment those attributes and that fit with its culture. Professionalizing does not have to mean removing the family from its role in the business. But it does mean making a deliberate choice to define clear roles for the family and for professional managers. This approach will allow the business to benefit from uniqueness where it matters and prepare for scale where it is needed.