Maintaining business success assures its future and sustainability without putting the cohesion of the family and succession at risk is one of the challenges that a family business confronts daily. In this sense, relationship management is more relevant and this is possible because both the business and the stability of the immediate environment are at stake for the managers themselves.
The family business fabric is built by more than two thirds of the total amount of businesses in Chile which represents more than half of all output and employment. Given the importance for the country, the Business School ESE (linked to the IESE) promotes the Chair of Family Businesses. In this framework, the conference on Communication in Family Businesses was developed in which Núria Vilanova, president of ATREVIA participated and different managers from Chilean family businesses attended.
Núria Vilanova highlighted the importance of having an incorporation protocol for new generations which systemizes and defines a transparent mode of accessing the company. The value of family talent should be complement with third party professionals which supports this new perspective, “taking decisions in a family business should unite external talent as well as family members. It is necessary to make values come alive to service as a guide at the moment of making a decision”, highlighted Núria.
Business and family values should be aligned to guide action and consequentially decision making. Shared values allow the family business to define a strategy and systems of efficient communication. According to the president of ATREVIA, “new generations of the family should maintain a spirit that reflects the essence of the company and achieve management that excites which allows sharing and engagement towards common goals”.
In this sense, communication plays an essential role not only at a level of visibility for the clients but at a global level. “Communication is surprising and interacting and companies should focus their efforts on systemizing it, define channels and consider it a tool of strategic management. In the moments of generational change, proper communication planning with all audiences is essential to avoid situations of information vacuum”, confirmed Núria.
