Investing in subsidiaries is a business decision that adds value, but requires patience, adaptability and taking controlled risks.
Tuesday, April 16, a new breakfast of the Family Business Chair of the University of Valencia was held, with the title: "Family Business Internationalization: beyond exports."
During the event, businessmen Estefanía Ferrer (Responsible for the Legal and CSR Area of Valveulas Arco SL) and Miguel Ruíz (President and CEO of Muelles y Ballestas Hispano-Alemanes) have transferred their experience in foreign implementation to the attendees through the constitution of productive and commercial subsidiaries. Valves Arco was installed in Tunisia seeking proximity and customer service in North Africa, a business decision in which the family analyzed the risks to keep them under control. Docks and Crossbows opted for Turkey pursuing better service to its main customers. Investment in subsidiaries involves addressing new situations, sometimes complex, that require patience, perseverance and the support of experts who know the terrain, practices and culture of the country of destination.
Breakfast has brought interesting experiences about the selection of the country based on its adjustment to the company's strategic objectives, as well as on the importance of discerning when to enter through the use of alliances and when to do so only through own investment. If the right partner is not found because of its strategic complementarity and its good adjustment of values, trust and control possibilities, it is advisable to seek expert support and develop your own initiative.
As key aspects, both entrepreneurs have highlighted the importance of selecting and developing local human capital, as well as transferring knowledge and values through socialization processes with Spanish employees.
Miguel Ruiz and Estefanía Ferrer have also highlighted the importance of protecting key technologies and knowledge, and adapting to the culture and uses of the country, especially when there are notable differences with Spain. Family businesses also have the advantage that the pressure of short-term returns is lower, which provides a long-term perspective and enough patience to facilitate learning and adaptation.
The session has been moderated by the Managing Partner of Consortia, David Carnicer, and the Director of the Chair, Alejandro Escribá. The latter has highlighted the strong relationship between the adoption of high-commitment international profiles and the achievement of better levels of business competitiveness. David Carnicer has opted for this option with the ambition that this attitude of greater international commitment grows among the companies of the Valencian Community and we can talk shortly about companies in the Community with global implementation.
