"Family business leaders often feel pressure to "professionalize" their businesses, adopting the structures and behaviors of non-family corporations. However, when they push this too far, they can inadvertently destroy their most distinctive competitive advantages: Trust, long-term commitment, and multigenerational relationships that naturally arise between family-run businesses. What researchers call familiness is frequently underestimated or treated as a weakness to overcome, as if family involvement were a liability rather than a strength."
"Armodios Yannidis is the CEO of Vitex, a family-owned company leading the Greek market in architectural paints and related products. He is also the President of the Association of Greek Chemical Industries (HACI). is a senior lecturer at Harvard Business School, coauthor of Harvard Business Review Josh Baron Family Business Handbook (Harvard Business Review Press, 2021), and a cofounder of BanyanGlobal Family Business Advisors. Moe Khant-Thu is a doctoral researcher at Cranfield University, focusing on marketing, strategy, and management of organizations."
Family business leaders often face pressure to professionalize their firms by adopting structures and behaviors of non-family corporations. Excessive professionalization can erode distinctive competitive advantages: trust, long-term commitment, and multigenerational relationships. Familiness—resources and capabilities arising from family involvement—is frequently underestimated or treated as a liability rather than recognized as a strength. Vasilis Theoharakis directs strategic marketing and sales at Cranfield. Armodios Yannidis leads Vitex and presides over HACI. A senior lecturer at Harvard Business School coauthored the Family Business Handbook and cofounded BanyanGlobal. Moe Khant-Thu researches marketing and strategy at Cranfield University.
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