Change in Management from Family based management to Professional based Management.

The aim of this research was to examine change in management from family based management to professional based management and to study the impact on employee satisfaction. The research was conducted with reference to a Surat(India-Gujarat) based family Firm-Luthra. The research has achieved following objectives: to identify the characteristics of family firms; to identify the momentums and impediments of adopting professionalism in family firms; to examine the need and effective effectiveness of change management(adopting professionalism) for family firms; to examine the impact of change management(adopting professionalism) on HRM in family firms; and to examine the impact of change management(adopting professionalism) on employee satisfaction in family firms. In order to achieve these objectives, data was collected interviewing 25 managerial and senior level employees in Luthra through questionnaire survey. The leading findings of the research are as following. It was studied in this research as a family business, what is the most upsetting characteristic of Luthra. The data collected on managerial and senior employee level in the business reveal that the most upsetting characteristics of Luthra, are maintain status quo and hesitation to invest in risky projects. Furthermore, it was studied in this research as for what chief reason Luthra should shift from family firm to professionally managed firm. The data collected on managerial and senior employee level in the business reveal that Lulthra needs to shift from family firm to professionally managed firm for the chief reason of entering the large scale domestic market. Moreover, it was studied in this research as whilst adopting professional management, what would be the major challenge for Luthra. The data collected on managerial and senior employee level in the business reveal that whilst adopting professional management firm characteristics and institutional constraints would be the major challenges for Luthra. Besides, it was studied in this research as in order to reduce the resistance by employees in change management, what should be the most essential focus of Luthra. The data collected on managerial and senior employee level in the business reveal that in order to reduce the resistance by employees in change management, promoting collaboration and partnership and motivation change should be the most essential focus of Luthra