Publicación: Las buenas prácticas del gobierno corporativo en empresas familiares
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Latin American family businesses are going through a key moment. Generational transitions and competitive pressures of globalization are forcing these companies to find adaptation solutions to a series of problems, such as planning the retirement of patriarchs who have occupied leadership positions for decades, selecting and preparing their successors for management and corporate governance, control conflicts and foster collaboration between an increasingly complex group of shareholders and owners, and manage generational dynamics both within the company and within the family. Cultural influence can guide and improve some responses to these changes in the environment, it can also interfere with others, say the authors. In particular, some aspects of culture facilitate the adaptation and survival of family businesses, while others pose considerable impediments to their growth and continuity. Based on real examples and cases of prominent family groups that the authors have worked with, this article delves into the cultural factors that have a wider impact on Latin American family businesses: the challenge of internal continuity, which relates to need for formal shared power structures; the challenge of patriarchal control, which is related to the attachment of families to traditional models of succession and leadership; and the challenge of processes, which includes problems such as communication, conflict management, the integration of women and the incorporation of directors and external executives. A constant follows from all of them: the deep commitment of Latin American family businesses to the preservation of their nuclear and extended families, even above the well-being of the company. This deep-rooted cultural preference poses an important stumbling block for the new generation of business family leaders in the region to adopt and establish more structured corporate governance architectures.