Its strategies have a high social component to generate value beyond the shareholders. This is aimed at generating inclusion, equity within organizations and also at developing a strategy that supports the communities where they develop, they want a better balance between personal life and work, in addition to wanting to have less environmental impact.
“What is relevant here is that leaders must surround themselves with people with skills that serve to enhance the organization’s lines of action. These leaders, as they mature and build their legacy, speak to the purpose of the organization. They come to set guidelines to focus on being leaders with open communication, ”says Esquivel.
Change from the Council
Entrepreneurs have had the opportunity to learn from their companies and build trust in organizations from the boards of directors, a figure that in recent years has become increasingly relevant. From their seats, they have accompanied their parents in making decisions but, above all, it allows the strategies to be aligned with the vision of the rest of the directors, especially those who are not part of the families that own the corporations.
The specialists consulted agree that, although it will not be easy for the new generation of entrepreneurs to leave their legacy, it must permeate from the boards of directors, since it is these decision-making members who have to combine business strategies to generate value for the company.
And, to generate changes in the business ecosystem, it is important that these entrepreneurs participate in other councils or business chambers, thus promoting spaces for exchanging experiences and learning that they have obtained from their positions. It is a way of building a path that helps the next generational change within the business ecosystem.
This is the case of Jorge Esteve Recolons, who directs ECOM Agroindustrial México, a company that is dedicated to the commercialization of commodities such as coffee, cotton and cocoa. He is also president of Grupo COPRI, a real estate and infrastructure developer. The businessman is a member of the Mexican Business Council, of the Advisory Council of Cultivan Sand Box Venture Partners and of the boards of directors of Aeroméxico, Telmex, Grupo Real Turismo and Latin America Conservation Council.
“The important thing here is that interaction in the chambers or in the unions. These are collaborative generations that generate added value for the business ecosystem, because they tend to share their ideas and this is enriching the industry ”, says Juan Carlos Simón, PwC’s leading partner in Family Business Services.
See out of the box
The new generation of entrepreneurs has made paradigm changes and, even, they often question the model of their companies to transform them and take them on new paths, they evaluate their companies and this allows identifying opportunities for new business models.
“They come much more focused on something they like to do in life, they studied what they liked, what they understand. And that also generates a greater value to the knowledge that they are going to contribute to the ecosystem of companies. The game is to change, they do not come with a static spirit and these changes are generated in the operation and business models ”, points out Simón.
This was the case of Amado Sabas, CEO and founder of Grupo Petroil, who in 2000 spun off the company that his grandfather founded to create his own, with the support of his family. The company managed to expand its business beyond Sinaloa, the state where it was born.
The company, which his grandfather started as a gasoline sales business, is now a conglomerate that sells fuels for shrimp and tuna boats, has a network of gas stations and a logistics network for the transportation of fuel, among others.
The PwC leader comments that these changes to bring the personal brand from family businesses is not easy, nor is it a trend, but it is the result of conducting an analysis to generate a legacy.
“These generations make an evaluation in companies, they are used to learning and relearning faster with the access they have to information and with this they reorient their strategies with greater flexibility. Sometimes they have to take risks and sometimes they need to reinvent themselves. And, according to the context of each company, it can be successful ”, says José Ramón Barreiro, director of the Faculty of Business at Lasalle University.