Communication is a fundamental tool within the business family’s own strategy. This applies as much to internal as external communication.

Internal communication

As far as internal communication goes, the concept of the family as an active team requires the creation of an open communal space that is dynamic and interactive and that acts as a conduit, guaranteeing constant information and networks everybody within the family.

Fluid communication not only guarantees a relaxed atmosphere, it reduces the anxiety caused by misinformation and amongst other things, lightens informative sessions and in general is a decisive part of the mutual trust within the family.

The technological era in which we find ourselves permits the creation of flexible and instant systems, but their use should be professional and rigorous, so they are always positive tools.   It is important to avoid an overdose of information.

We can say that digital communication is now in day to day use.

It is also important to assign value to the Family Board, or similar organ, as this maintains a level of institutionalization for the business family. The Family Board meetings are an opportunity for physical meetings, an opportunity to admire the value of generational legacy face to face, between the people who have created it, those that maintain it and those that are pushing it forward. It is the moment for intergenerational contact, the key to the continuation of the family business.

In the same way that uninterrupted digital communication takes the form of dialogue and meeting, the Family Board becomes a communicative space for debate. The expectations of the members of the family can be worked on, strategic plans are formed and improved, hopes become plans, experience is shared, and conversations started digitally are continued all in a shared physical space.

The basic communicative objectives in this business model are:

  • Keep up to date with everything that is going on in the family and business sphere as it happens
  • Encourage family cohesion and teamwork
  • Understand the position of the other, pick up on individual actions and moods
  • Deal with matters
  • Close the generational gap
  • Allow different means of expression and ways of dealing with questions that affect the team

Continued internal communication flow - as long as it doesn’t become a poisonous overdose – guarantees transparency and becomes an integrating element. It is the key to commitment.

External communication

Explaining the business results and social activities contributes to underlining the value of the business family and provides credibility and solidity for its activities, reinforcing them in a positive loop.