These over 13 years in the business world have given us a capital of valuable
knowledge. Some of our best highlights have been:
Entrepreneurship in the 3rd Generation
Strategic Planning - Chemical Manufacturing Company (USA)
The year 2001 brought the shadow of terrorism in the world and the aggressive entry of XXI Century Socialism in Latin America. A chemical factory owner with active founders and three children in the 2nd generation of the family, understood that these signs of change were not positive for the private sector in their country, and the protection of their assets would depend on the strategies and promptness in which they would diversify into 1st world countries.
Thus, a project called "One foot here and one outside" was born, which was the basis for the diversification and internationalization of what today is a family business diversified between their country and the U.S., with commercial presence in three other countries in Latin America.
Competitive Legacy helped them understand the remains of what they had at the time, and realize the Strategic Plan that would serve as the compass towards achieving the goals outlined in the Family Council.
Corporate Governance - Food Company (Ecuador)
Among Italian noodles (pasta), soups and fruit drinks, a family business of 5 (2 in the 1st generation and 3 in the 2nd), with over 40 years of history in food manufacturing in South America, and a farm as part of their value chain, they encountered differences in work style by confusing the role of active
shareholders in managerial and operational positions.
Competitive Legacy helped shape the bodies of Corporate Governance starting with the formation of the Family Council and a Board of Directors with professionals as external members, along with formalizing the Executive Committee, led by the CEO of the company. This brought calm to the team and focus on the next step, which was the Strategic Planning for the long term.
Siblings Council - Agricultural Company (Honduras)
A family, proprietor of a group of agricultural enterprises in Central America with
a broad list of workers and presence in four continents, was in transition from founder to six descendants of the 2nd generation. The challenge was to align the different criteria at the same level and professionalize the company.
Competitive Legacy assisted them in strengthen the existing Family Council and formalize the Siblings Council of the 2nd generation, along with the Executive Committee formed by the CEO and the Executive Team (CMO, CFO, COO, etc). The alignment of criteria was the key to the sustainability of the family business model.
Family Employment - Food Company (Peru)
A family with 156 members spread over 2 generations and owner a Food Factory in South America with a payroll of no more than 120 workers, was facing the challenge of having some relatives feeling entitled to work in the company with a higher compensation than a non-family worker. The situation was tense, and if they had not agreed on professional premises, the company would not be standing today.
With the support of Competitive Legacy, the family managed to develop the Family Council, which consists of members of the leader generation, their spouses and a representative of the next generation per family nucleus. At the end of six months of work, the Family Protocol was agreed on and signed in front of more than 100 people, including relatives and friends.
Entrepreneurship in the 3rd Generation – Sales Company (Venezuela)
A family with more than 76 relatives, three generations alive and owner of a entire stores chain in South America needed to determine its future as a family business and the way to motivate the 3rd generation to multiply their wealth. The family had grown so much and so fast that they visualized the need to find new ways of generating wealth.
The formation of an extended Family Council, where all members of the 2nd generation participated with their partners, joined by the 3rd generation starting at 12 years old, turned into a full and complete Family Protocol, where Family Values were considered and validated by the grandfather (present in the talks), but also the manner in which the 3rd generation could start their enterprises with the support of the leader generation.
Competitive Legacy ,LLC
1470 Biscayne Blvd. Miami, FL 33132. USA
Contact numbers: +1 (786) 400-9381 & + 1 (786) 600-1822