Valencia June 14, 2021. Yesterday the XIII edition of the course of the Family Business "Key aspects for its competitiveness and durability" took place, organized by the Chair of Family Business (CEFUV), with the collaboration of its promoters: the Valencian Association of Entrepreneurs (AVE), the School of Entrepreneurs (EDEM), the Valencian Institute for the Study of Family Business (IVEFA), the Institute of Family Business (IEF) , the Universitat de València (UV), and with the sponsorship of Broseta and CaixaBank.
The inauguration took place at ADEIT, where students and speakers gathered to welcome the course. After a few brief introductory words by Alejandro Escribá, director of the Chair and the promoters of the course, the participants were able to learn about the experience of the GREFUSA case, from the hand of Bernardo Gregori, Director of Risks, Compliance, CSR and Institutional Relations of GREFUSA, as well as President of the Family Council. Bernardo has related the origins and evolution of the company and has shared the experience of the creation of the family council that governs the relationship between the owner families and the company.
GREFUSA is a family business founded in 1929 specialized in making nuts and cereal snacks. It is a leading company in innovation, formed by more than 600 employees and 2 manufacturing plants where more than 275 million bags are produced annually.
For Bernardo, the Family Council is a fundamental forum to deal with and order all those aspects that affect the family and its relationship with the company. In this forum, the third generation of the company has established the values and good practices that help the company to have a highly professionalized management, and have laid the foundations to prepare the fourth generation to be responsible shareholders and committed to the family business. He also shared his experience in this area and gave some advice such as: talking freely among family members, avoiding delicate situations that can cause misunderstandings, maintaining a constant attitude of maximum respect to debate and reach consensus, and finally, once a decision has been reached, make it your own, be part of the decision and support it.
Bernardo also highlighted the values of spirit of improvement, ability to adapt, constant innovation, commitment to people and the reputation of the company, values that are shared by the entire organization and the family. Later, he highlighted the importance of the positive footprint that Grefusa leaves on society, as well as the recognition and reputation that he has achieved and that he cares for every day. Their sustainability strategy is structured in four key pillars, in which they constantly work to generate value and positive impact on the environment, consumer, people and community.
Finally, Bernardo commented that the family has given priority to professionalization. The importance of talent management is a fundamental pillar for Grefusa, and the family does not intervene directly or indirectly in the personnel selection processes. The best asset that companies have are the people who form it. To manage talent properly is very important, the selection of personnel, the evaluation of performance identifying the potential of each one, career plans, identification of replacements in key positions.
“The generosity and intelligence from the members of the second generation, giving up the baton at a relatively young age, the creation of a family protocol and the constitution of a board of directors to accompany and assist in the process of succession and professionalization, have been the key pieces in the continuity and durability of the family business”
Bernardo Gregori
In the conclusions of the inauguration, the director of the Chair, Alejandro Escribá stressed that training on the particularities and idiosyncrasies of the family business is fundamental to improve the management processes in them. It is good that the members of the owner families, the managers (family or not) and the employees of the family businesses, know these aspects to better understand their operation and the fit of certain business strategies in them. This training also helps to implement good corporate governance practices, to make succession processes more effective, and allows us to learn how to separate business and family spheres and find ways to complement them so that they are reinforced instead of generating conflicts or placing limitations.
The Family Business course is offered free of charge to students of the Universitat de València. The family business accounts for 66% of employment in Spain, and the probability that these students (of any degree) end up working in family-owned and managed companies is very high. The course lasts 50 hours, addresses topics of corporate governance, strategic decision-making, conflict management, succession processes, legacy management, commercial, labor and tax law, and financial management for the company and the family, will be taught until July 9. This training, framed in the offer of the Servei d'Extensió Universitaria, is also open to professionals and all those interested in these problems, in order to disseminate knowledge and contribute to improving the competitiveness and durability of Valencian family businesses.
More information at www.cefuv.org
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