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INNOVATION
VS. TRADITION
IN FAMILY BUSINESSES

BRIGITA JURISIC
INTERNATIONAL BUSINESS DEVELOPER @ BRIDGE PARTNER / TECMINHO
FAMILY BUSINESS STATS
60-90% of nongovernmental
GDP

Family
businesses are
70-95% of all
business entities

85% of all
business startups started with
family money

50-80%of all
private sector
jobs
Source: European Family Business – Family business statistics
THE UNIQUE QUALITIES OF
THE FAMILY BUSINESS
- Long-term thinking and a broader perspective.

- Quicker and more flexible decision-making.
- An entrepreneurial mind-set.
- A greater commitment to jobs and the community.
- A more personal approach to business based on trust.
- More profitable over the long term.
- Less likely to lay people off and more likely to hire.
- Use less debt and are therefore more stable. Particularly in economic
times such as the ones we are in now.
PORTUGAL TODAY AND
FAMILY-OWNED SMES
CHALLANGES
- Globalisation causing highly competitive economic environment.
- World economic crisis and consumption decline in Portugal and in
Europe in general.
- IMF in Portugal since 2011 – trust level in Portugal drops – credit
access difficulties.

Portuguese family-owned SMEs are obliged to rethink their strategies,
value propositions and target markets. Buzz words internationalisation
and innovation start to appear on a daily basis.
At the time present due to internal market contraction and globalization
turning internal market more competitive these companies have a need
to internationalize and innovate.

In order not to waste its scarce resources a need of defining a
company’s internationalization and innovation strategy and action plan
is crucial.
LIMITED RESOURCES
FOR INVESTMENT IN
INTERNATIONALIZATION
AND INNOVATION
Innovation vs tradition
RELATIONSHIPS AS RESOURCES
Creation of a new business relationship is seen as a form of
organizational change and innovation (Huang and Wilkinson, 2007)
bringing an important competitive advantage to the companies since

they do not compete only at the level of price, but also in speed of
delivery, quality and innovation (Humphrey and Schmitz, 1998).
Relationships offer unique access to external resources of their
partners’ and can be seen as valuable resources themselves. Companies
co-evolve in the relationships (Huang and Wilkinson, 2007).
FACILITATORS / CATALYSTS OF
INTERNATIONALIZATION
ACCELERATION AND BUSINESS
DEVELOPMENT
TRUST AND RELATIONSHIPS
Trust is a key mechanism of inter-firm relationships enabling
interaction and reducing transaction costs. A recent work review
performed by Ekici (2013) demonstrates trust has been largely viewed

as a construct that increases commitment, satisfaction, cooperation,
performance, signals long-term orientation and propensity to stay in
the relationship.
TRUST AND RELATIONSHIPS
RISK
UNCERTAINTY

Starting a new business relationships family-owned SMEs need to
be aware of their key resources and capabilities in order to be able
to present their unique value proposition and generate fair
incomes.
RELATIONSHIPS AS A SOURCE
OF COMPETITIVE ADVANTAGE
Myers and Cheung (2008): Companies learn one from another. Types of

relationship learning within the buyer–supplier relationship:
- information sharing,
- joint sense making, and
- knowledge integration.
All three contribute to a company’s unique sales proposition based on
competitive

advantage

achieved

relationships with its key partners.

through

its

involvement

in
CASE PRESENTATION:
QUINTA DOS FUMEIROS
October 2011
February 2012

October 2012

August 2012
DIAGNOSTICS
OR WHERE TO BEGIN
THE PLAN IS TO…
Co-work and co-evolve the company’s competences – resource fusion

7. Think things
through together

1. Verbalize the
core strategic
premises

2. Define the target
markets for
internationalization

6. Adjust the marketing
materials

5. Define the target
partners and influencers
4. Marketing
plan

3. Study the
target markets
…MARK THE DIFFERENCE
THE EXECUTION
-International food and beverage fair SISAB, February 2012
-Gourmet fair Peixe Lisboa, June 2012

-Portugal Gourmet, November 2012
-International food and beverage fair SISAB, February 2013
-Polagra food fair, Poland, September 2013
-Macau international fair, Macau, China, October 2013
-HORECA life, Belgium, October 2013
DEVELOPING BUSINESS
RESULTS IN…
Company gaining recognition of its innovation
capacity between its peers.
Qualification for The innovative product of the year
2012 at Masters of distribution.
More contacts and visits of potential clients at the
company.
Qualified leads:
October 2012 – Mozambique, Switzerland, Germany,
Russia, Brasil, China, France, Luxemburg, Romenia,
Spain, Angola, UK, Chech Rep., Macau

October 2013 – China, Angola, Germany, Poland,
France, Luxemburg, Belgium, Switzerland, Angola,
Mozambique
DEVELOPING
BUSINESS RESULTS
IN…
Actual sales

2013* (till October)
347.870€

88.311€
2012
401.827€

France, Luxemburg,
Belgium, Switzerland,
Angola, Mozambique

2011

431,382.42 €

36.300€

France, Luxemburg,
Romenia, Spain, Angola,
UK, Chech Rep., Macau
CHALLANGES
-Long and costly processes of obtaining the certificates to be able to
sell in Brazil and in Russia.
-Consolidating the markets we have already entered.
-Support the distributors to do a great job in brand consolidation.
-Make the right balance between market prospection costs and limited
resources available.
-Close up the 2014 international promotion plan.

-Continue optimizing internal processes in order to be able to serve the
international market and evolve the company.
Co-evolve by building relationships based on trust!

Brigita Jurisic
bj@bridge-partner.pt
www.bridge-partner.pt
brigita@tecminho.uminho.pt
www.tecminho.uminho.pt

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Innovation vs tradition

  • 1. INNOVATION VS. TRADITION IN FAMILY BUSINESSES BRIGITA JURISIC INTERNATIONAL BUSINESS DEVELOPER @ BRIDGE PARTNER / TECMINHO
  • 2. FAMILY BUSINESS STATS 60-90% of nongovernmental GDP Family businesses are 70-95% of all business entities 85% of all business startups started with family money 50-80%of all private sector jobs Source: European Family Business – Family business statistics
  • 3. THE UNIQUE QUALITIES OF THE FAMILY BUSINESS - Long-term thinking and a broader perspective. - Quicker and more flexible decision-making. - An entrepreneurial mind-set. - A greater commitment to jobs and the community. - A more personal approach to business based on trust. - More profitable over the long term. - Less likely to lay people off and more likely to hire. - Use less debt and are therefore more stable. Particularly in economic times such as the ones we are in now.
  • 4. PORTUGAL TODAY AND FAMILY-OWNED SMES CHALLANGES - Globalisation causing highly competitive economic environment. - World economic crisis and consumption decline in Portugal and in Europe in general. - IMF in Portugal since 2011 – trust level in Portugal drops – credit access difficulties. Portuguese family-owned SMEs are obliged to rethink their strategies, value propositions and target markets. Buzz words internationalisation and innovation start to appear on a daily basis.
  • 5. At the time present due to internal market contraction and globalization turning internal market more competitive these companies have a need to internationalize and innovate. In order not to waste its scarce resources a need of defining a company’s internationalization and innovation strategy and action plan is crucial.
  • 6. LIMITED RESOURCES FOR INVESTMENT IN INTERNATIONALIZATION AND INNOVATION
  • 8. RELATIONSHIPS AS RESOURCES Creation of a new business relationship is seen as a form of organizational change and innovation (Huang and Wilkinson, 2007) bringing an important competitive advantage to the companies since they do not compete only at the level of price, but also in speed of delivery, quality and innovation (Humphrey and Schmitz, 1998). Relationships offer unique access to external resources of their partners’ and can be seen as valuable resources themselves. Companies co-evolve in the relationships (Huang and Wilkinson, 2007).
  • 9. FACILITATORS / CATALYSTS OF INTERNATIONALIZATION ACCELERATION AND BUSINESS DEVELOPMENT
  • 10. TRUST AND RELATIONSHIPS Trust is a key mechanism of inter-firm relationships enabling interaction and reducing transaction costs. A recent work review performed by Ekici (2013) demonstrates trust has been largely viewed as a construct that increases commitment, satisfaction, cooperation, performance, signals long-term orientation and propensity to stay in the relationship.
  • 11. TRUST AND RELATIONSHIPS RISK UNCERTAINTY Starting a new business relationships family-owned SMEs need to be aware of their key resources and capabilities in order to be able to present their unique value proposition and generate fair incomes.
  • 12. RELATIONSHIPS AS A SOURCE OF COMPETITIVE ADVANTAGE Myers and Cheung (2008): Companies learn one from another. Types of relationship learning within the buyer–supplier relationship: - information sharing, - joint sense making, and - knowledge integration. All three contribute to a company’s unique sales proposition based on competitive advantage achieved relationships with its key partners. through its involvement in
  • 17. THE PLAN IS TO… Co-work and co-evolve the company’s competences – resource fusion 7. Think things through together 1. Verbalize the core strategic premises 2. Define the target markets for internationalization 6. Adjust the marketing materials 5. Define the target partners and influencers 4. Marketing plan 3. Study the target markets
  • 19. THE EXECUTION -International food and beverage fair SISAB, February 2012 -Gourmet fair Peixe Lisboa, June 2012 -Portugal Gourmet, November 2012 -International food and beverage fair SISAB, February 2013 -Polagra food fair, Poland, September 2013 -Macau international fair, Macau, China, October 2013 -HORECA life, Belgium, October 2013
  • 20. DEVELOPING BUSINESS RESULTS IN… Company gaining recognition of its innovation capacity between its peers. Qualification for The innovative product of the year 2012 at Masters of distribution. More contacts and visits of potential clients at the company. Qualified leads: October 2012 – Mozambique, Switzerland, Germany, Russia, Brasil, China, France, Luxemburg, Romenia, Spain, Angola, UK, Chech Rep., Macau October 2013 – China, Angola, Germany, Poland, France, Luxemburg, Belgium, Switzerland, Angola, Mozambique
  • 21. DEVELOPING BUSINESS RESULTS IN… Actual sales 2013* (till October) 347.870€ 88.311€ 2012 401.827€ France, Luxemburg, Belgium, Switzerland, Angola, Mozambique 2011 431,382.42 € 36.300€ France, Luxemburg, Romenia, Spain, Angola, UK, Chech Rep., Macau
  • 22. CHALLANGES -Long and costly processes of obtaining the certificates to be able to sell in Brazil and in Russia. -Consolidating the markets we have already entered. -Support the distributors to do a great job in brand consolidation. -Make the right balance between market prospection costs and limited resources available. -Close up the 2014 international promotion plan. -Continue optimizing internal processes in order to be able to serve the international market and evolve the company.
  • 23. Co-evolve by building relationships based on trust! Brigita Jurisic bj@bridge-partner.pt www.bridge-partner.pt brigita@tecminho.uminho.pt www.tecminho.uminho.pt

Notes de l'éditeur

  1. According to the best available research, the importance of family business has been equated to: In Europe – over 1 trillion EUR in aggregated turnover, 9% of the EU’s GDP and more than 5 million jobs
  2. The SMEs possess limited resources therefore their internationalization paths are substantially different from the ones of big companies (Gabrielsson and ManekKirpalani, 2004). Then need to be innovative to be able to guarantee results with less resources.Which resources are the most hard to get for SMEs?
  3. Can SMEs hit the road alone?
  4. 1ST ORGANIZATIONAL CHANGE
  5. Starting a new business relationship is an uncertain situation for both companies entering into the relationship and represents great risks and costs for both, especially if it is in the international level and demands closer cooperation between the companies (Brennan et al., 2011). SMEs establishing contacts with potential partners abroad have a difficult task in gaining trust, especially if their experience with foreign markets is scarce and they lack of international references.
  6. 2ND ORGANIZATIONAL CHANGE – COMPANY GOES INTERNATIONAL
  7. As origens da Quinta dos Fumeiros remontam aos tempos em que os antepassados da Sra. Rego se instalaram no Norte de Portugal e começaram a curar e a fumar carne para garantir a sua preservação. Em 1988, as suas três filhas decidiram então desenvolver um negócio com base nas receitas da sua mãe e na vasta experiencia em curar e fumar carne. Inicialmente os produtos tradicionais produzidos eram vendidos apenas em mercados locais mas, com o aumento da procura, procedeu-se em 2007 a um investimento em novas instalações produtivas e numa nova forma de organização de trabalho.