XLRI Jamshedpur organized the first CXO Series on the 1st and 2nd June, 2024 for the GMP batch of 2024-25 with the privilege of hosting Mr. Animesh Kumar, President of HR & Transformation at Zee Entertainment Enterprises Ltd (ZEEL). Mr. Kumar, a distinguished corporate leader with a rich legacy of 25+ years of experience conducted an insightful session on the topic “Family Ventures Reimagined: Pivoting and Scaling through Generations”. The session saw participation from the whole cohort, as well as members of the XLRI management and staff. Prof. Sunil Sarangi, the Co-Convenor for Placement, added to the occasion by extending a warm welcome to the guest speaker, conveying his sincere appreciation.
Mr. Deepak Yadav, Founder of CEO Lounge, commenced the session by offering profound insights into the dynamics of family businesses. He then graciously introduced Mr. Animesh Kumar, inviting him to share his wealth of experience and expertise with the audience. The session, led by a Q&A between Deepak Yadav and Animesh Kumar, delved into the complexities of family businesses, echoing the Chinese saying that “Wealth rarely survives three generations”.
Overall, the session provided valuable insights into the multifaceted nature of family businesses and the strategies employed to navigate their complexities. One significant discussion point was the evolution of family business dynamics, where assumptions about the predictability of tomorrow drive decision-making.
Global expansion poses its own set of challenges, particularly in balancing the preservation of family values with diverse global cultures. The discussion also touched upon changing societal norms regarding gender roles within family businesses, with a recognition of a shift towards daughters taking up leadership positions followed by an interactive Q&A session from the students in relation to family ventures.
On the second day, Mr. Kumar took a session on “Crystal Balling Societal and Behavioural Trends Through Content”. He discussed content types and their consumption through OTT or Instagram reels as the economy is shifting. Monetization strategies are evolving, with rising subscription revenue alongside challenges posed by the shift towards free-to-air content and the dominance of digital advertising.
Key points discussed:
Adaptability and agility should be termed crucial when approaches are taken by media companies in catering content to local cultures from different geographies.
Ad-supported Video On Demand (AVOD) model is trending in order to adapt to changing consumption habits for M&E companies.
Artificial Intelligence (AI) plays a crucial role in content production and discovery, facilitating tasks like generating story ideas, analyzing footage, and providing real-time insights into audience preferences.
Family businesses can prove to be more sustainable in the long run and can provide better returns for their investors over the years when compared to institutional businesses.
The industry also faces challenges such as low ad rates and the need for content segregation based on audience demographics. The students were given the case to analyze the types of content that Zee should focus on and how, given the segmentation based on age. What schemes should be applied for the monetization based on advertisements and subscriptions.Top of Form.
The event concluded with a heartfelt vote of thanks, expressing immense gratitude to Mr. Kumar for sharing his wisdom and insights with XLRI students.
