Page 24 - FINAT Yearbook 2014

SIX STRATEGIES OF SUCCESS
FINAT: FAMILY, BUSINESS, AND LABELS
How multiple generations globally are working together to manage and grow successful businesses in today’s labelling industry.
All over the world, family run businesses play a critical role in our economy and or society. Research done by the European Commission, shows that family businesses make up more than 60% of all European companies and account for over 40% of employment in Europe. In North America, family-owned business plays an equally big role, where over 80% of businesses are considered to be family owned. Until recently, nearly all the businesses in India were considered to be family owned businesses.
FAMILY BUSINESSES –
A DYNAMIC PART OF FINAT MEMBERSHIP
While these statistics relate to businesses in general, family owned businesses also play an important role in the labelling industry. “Family businesses are a dynamic part of our membership – in both the traditional FINAT association and the more recently established FINAT Young Managers Club (YMC),” says Kurt Walker, President of FINAT. “We wanted to capture how two generations work together to make a labelling business successful for today - and for the future.”
FINAT interviewed two generations of FINAT/YMC member families representing companies in Europe, in North America, and India:
Slovakian based Purgina is run by Stefan Kilarsky, his son Radovan and his daughter, Dana. Dana is also President of the FINAT Young Managers Club (YMC).
The German-based company Hagmaier Etiketten & Druck is run by Thomas Hagmaier (FINAT’s Vice President), his sons Rodolfo and Max and his daughter Veronika.
Elvira Vidal and her daughter Bibiana manage Rotatek in Spain,
Harveer Singh Sahni and his son Pawandeep from Weldon Celloplast in India,
ETI Converting Equipment is based in Quebec, Canada. It is run by François Bayzelon and his son Maxime.
Each of these organisations is diverse in its history, their market focus, and their geographic location. Yet, they are united in one key area: they are run by multiple generations of the same family. Based on the interviews ran with these generations we have identified:
SIX STRATEGIES THAT MAKE FAMILY BUSINESS IN THE LABELLING COMMUNITY A SUCCESS
1. A Value of Heritage
Everyone holds a strong belief in their corporate history. They have learned from the successes and disappointments the business has experienced along the way. The next generation sees it as an honour to take this heritage into the future.
Pawandeep says, “The most important benefit of a family business is its principles and core values. For any company to grow, these have to be passed on into the hands of someone who has understood the benefit of this from childhood.”
2. Communication
Successful family businesses have open lines of communication between the generations and with the employees of the company. It enables a successful generational transfer when the time comes.
“Trust and respect at Purgina goes both ways”, says Dana. “Listen to the ‘experienced generation’, use your gained knowledge of today, listen and most importantly, discuss the issues together.”
3. Long Term View
Family owned businesses want to be sure that they pass along a thriving company to the next generation. As a result, they focus their efforts on strategies which generate long-term success rather than short-term gains.
As Bibiana says, “The opportunity to mix different generations with different backgrounds and ideas is very important. It’s also good for the industry because there is a continuity of the next generation coming to keep the business going.”
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FINAT YEARBOOK 2014 |