Demystifying Families in Business: Module 3—The Family Office

Christina R. Wing

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Module Note | October 2019 (Revised August 2020)

Demystifying Families in Business: Module 3—The Family Office

by Christina R. Wing

Language: English

Format: Print

14 pages

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Citation:

Wing, Christina R. "Demystifying Families in Business: Module 3—The Family Office." Harvard Business School Module Note 620-048, October 2019. (Revised August 2020.)

About the Author

Christina R. Wing

Senior Lecturer of Business Administration

Technology and Operations Management

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Case | HBS Case Collection | July 2020 (Revised July 2020)

Gera Developments: Leadership at a Crossroads

Christina R. Wing and John Masko

For decades, Gera Developments (Gera) was a boutique family-owned real estate development firm in Pune, India. But since 2000, managing director Rohit Gera had turned the company into a dynamic innovator in housing solutions for urban Indian families. Over the 2010s, Gera had multiplied its area under development threefold; it had introduced its new ChildCentric vision of family housing villages (which incorporated children’s academies in skills from swimming to singing into the real estate complex); and it had expanded its operations from Pune to the nearby state of Goa. Meanwhile, Rohit’s brother Nikhil—a California resident—had invested company funds in several construction projects overseas in the San Francisco Bay Area. In 2020, the company stood at a crossroads. With Rohit beginning to envision the end of his managerial career, Gera had several key decisions to make: Should it double down on ChildCentric, introduce new age-differentiated offerings to serve its customers throughout their lives, or return to a more commoditized style of real estate development? To what extent should Gera cast in its lot with Nikhil’s U.S. projects? Should the company consider other avenues for international expansion? And to whom would Rohit pass the torch of Gera’s leadership—his daughter Diya, or an outside professional manager?

Keywords: Buildings and Facilities; Business Growth and Maturation; Construction; Geographic Location; Global Strategy; Globalized Firms and Management; Housing; Leadership Style; Management Succession; Organizational Change and Adaptation; Organizational Culture; Family Ownership; Family and Family Relationships; Urban Development; Customization and Personalization; Real Estate Industry; Maharashtra; India; United States;

Citation:
Wing, Christina R., and John Masko. "Gera Developments: Leadership at a Crossroads." Harvard Business School Case 621-018, July 2020. (Revised July 2020.) View Details

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Case | HBS Case Collection | October 2018 (Revised April 2020)

The Boston Beer Company: New CEO

Christina R. Wing and Marco Iansiti

Keywords: Beer/brewing industry; supply chain; succession; Leadership; Change; Supply Chain; United States;

Citation:
Wing, Christina R., and Marco Iansiti. "The Boston Beer Company: New CEO." Harvard Business School Case 619-021, October 2018. (Revised April 2020.) View Details

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Case | HBS Case Collection | October 2019 (Revised February 2020)

Thermax—Changing of the Guard

Christina R. Wing and Inakshi Sobti

Thermax is an engineering company in India that provides integrated solutions in energy, environment, and chemicals. The Aga family along with family trusts owns 62% of the company. Post a restructuring exercise in 2000, Thermax transforms itself from a small family business to a professionally managed $850 million conglomerate. Meher Pudumjee (family) is the current chairperson of the board. The case traces the journey of the company under the leadership of Meher’s father, Rohinton Aga, who builds the business; her mother, Anu Aga, who restructures the company and professionalises it; and finally under Meher and the professional management team. In 2019, with the incumbent CEO scheduled to retire, Meher feels the company stands at a critical inflexion point and needs to rethink its strategy for the future. While historically Thermax has groomed people from within to take on leadership roles, she feels the next chapter of growth requires a completely fresh perspective and initiates a search for an external candidate. What qualities should the ideal candidate possess? How will this new incumbent integrate and extract loyalty as an outsider? Will the culture of the organization need to adapt in order to allow the new CEO to drive change?

Keywords: Family Business; Transformation; Business Conglomerates; Strategy; Management Succession; Selection and Staffing; Organizational Culture;

Citation:
Wing, Christina R., and Inakshi Sobti. "Thermax—Changing of the Guard." Harvard Business School Case 620-043, October 2019. (Revised February 2020.) View Details

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