As an academic ally, EGADE Business School - Tecnológico de Monterrey hosted the online event that was broadcast live from the Monterrey site to the entire region.
By INSTITUTIONAL COMMUNICATION | EGADE BUSINESS SCHOOL
EGADE Business School - Tecnológico de Monterrey was in charge of connecting more than two thousand leaders and members of Latin America’s entrepreneurial families through the Family Business Tour 2023.
As an academic ally and the host, EGADE Business School broadcast the event live, from its Monterrey site to an online audience in 18 countries in the region, such as Mexico, Peru, Colombia, Guatemala, Panama, and Ecuador, among others.
The second edition of the Family Business Tour, organized by the Argentinian firm Quirós Consultores, offered a program consisting of three conferences delivered by international specialists with the aim of providing tools, new approaches, and keys for strengthening ties in Latin American family businesses and developing their capacities to generate value.
In his conference “Generational succession process,” Horacio Arredondo, dean of EGADE Business School, stated that developing a new generation of entrepreneurs in the family requires the consideration of factors beyond the survival of the business and a focus on economic and socioemotional value creation.
“You need to acknowledge that there will be a change in mindset, that planning and formalizing processes will be key for the transition, and that you need to start decentralizing decision-making. In other words, preparing generational succession in the company means formalizing it,” he said.
María Fonseca, director of Tecnológico de Monterrey’s Entrepreneurial Family Institute, gave the conference "The fundamental role of women in the entrepreneurial family," noting that, according to a recent survey, women have fewer aspirations to reach executive positions or form part of the Boards of Directors in family businesses, contrasting with their greater preference for participating in social commitment or philanthropic actions.
“Family businesses must fulfill their responsibility to establish organizational structures that will enable greater diversity in Boards and in all other areas. The challenge of women’s projection in other roles still exists in this and all other types of companies, which is why we need to keep working to close the gender gap,” she explained.
In addition, Martín Quirós, director of Quirós Consultores, offered the conference “The importance of descendants,” stressing that intergenerational motivation is achieved when the opportunity to participate independently on a day-to-day basis is given, thereby generating merits within the family business.
“Successors thrive on results, motivation, and recognition,” he said.
The Mayor of Monterrey, Luis Donaldo Colosio Riojas, was invited to deliver the welcome message at the event, in which he highlighted the value of family businesses in the development of prosperous cities.
After the conferences, the three specialists closed the event by participating in a panel where they agreed that the value of collaboration is fundamental to the success of a family business.
The Family Business Tour was sponsored by Banca Afirme and enjoyed the support of the Ministry of Economic Development and the Ministry of the Economy of the Sinaloa State Government, among other agencies.