Abstract:
In any economy, family owned businesses play an important role and the same applies to India as well.
Around 80% of the businesses in India are family owned and thus the need to research more on
transgenerational entrepreneurship. In business legacies, changes occur at all aspects of business from one
generation to another and new value is added at every point without compromising on the family business
ethos. The paper is a case study to understand the various aspects or dimensions of transgenerational
entrepreneurship from strategy to innovation, from technology to AI, from marketing to expansion through
deliberate changes in business approach of a leading food business house in India. Chitale Bandhu
Mithaiwale, a leading business in the food arena with a global presence is now being efficiently managed by
the third and fourth generations of the Chitale family by a perfect mix of conservativeness and dynamism. The
case study presents the sustainability model of their business which is a result of adaptation and innovation
without compromising the core value of Quality. The most important value by the young baton is the
promotion of entrepreneurship and innovative use of automation and the perfect mélange of agricultural
heritage and modern professionalism.
Description:
Thirteenth Biennial Conference on Entrepreneurship/ Edited by Sasi Misra, Sunil Shukla, Ganapathi Batthini
