Talking with Francisca Sinn, an expert in Family Business

Francisca Sinn:

"90% of companies in the world are family"

In the case of Santander Botin family group and split the entertaining exhibition of lawyer-and PhD in Engineering- Francisca Sinn, who is director of the Center for Family Business and Project Step Chile, Universidad Adolfo Ibáñez, with extensive experience the strategy that these companies must face to adapt their corporate governance and demands of the times.


Along with defining the characteristics of a family business entrepreneurship such as the sus- spoke of the concept of "familiness" with its attributes of human, social, patient characteristics and survival capital. She noted as well that "family businesses are more willing to make long-term investments".


And in addressing the present time, where the economy is focusing its hopes on emerging economies, she said today the "90% of companies in the world are family", while "in Chile represent 75% of companies" .


As for forecasts, the specialist said that by 2025 40% of large global companies will be familiar, while in 2010 it was only 15%.


However, with some examples of specific situations, she explained that today these businesses have great challenges to improve their management. "Consider that less than 1/3 of these companies survive the first generation ... And only 3% achieved exceed the fourth generation." To achieve this, she stressed that the important thing is not the company itself, which can be sold and change of ownership, but keep the spirit of "family business". In this regard, the importance of "shared goals" addressed. She noted that "personal transformation processes are very motivating in this work."


At the end of the meeting, Carolina del Rio, CEO of Clarke, Modet & Cº Chile, stressed the importance of spreading to the entire team of a company, beyond family ties, that "these shared objectives achieved interpret dreams of all. A family business that I managed to professionalize. But the whole process should be extrapolated to any company where everyone should work to build that love to build and improve the productivity of a company, but do not be yours. "


"Ultimately, the task of a leader is to make those who work there want what they do," Francisca Sinn ended. "A good leader is the one who manages to capture DNA other with what the company wants."