Key to the permanence and success of family businesses in Mexico

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"El futuro de las empresas familiares está en su capacidad de adaptarse y liderar con una visión sostenible."

In the current context, where sustainability has become a central issue on the global agenda, CEOs of family businesses in Mexico face the challenge of integrating this approach into their business models. With geopolitical tensions, climate changes and increasing social expectations, it is essential that family leaders adopt sustainable practices to ensure the relevance and future of their companies.

The urgency of sustainability

An Accenture study reveals that 98% of CEOs believe their role is to make their companies more sustainable. For CEOs of family businesses in Mexico, this is not only a moral imperative, but a vital strategy for transcendence. Integrating sustainability into the business model not only protects the company from uncertainties, but also builds trust with customers and the community. Furthermore, a sustainable approach increases resilience to external shocks, while improving the company’s reputation.

5 key elements to promote sustainability

1. Clear strategy

Sustainability must be part of the company’s strategic core. This means establishing clear objectives and metrics (KPIs) that guide investment and operating decisions. Incorporating ESG (environmental, social and governance) criteria is essential to guide growth towards a responsible future. CEOs must ensure that these goals are integrated into all levels of the organization, from senior management to operational staff. Without a clear strategy, any effort to be sustainable will be dispersed and will not generate the expected impact.

2. Work culture

Investing in the mental and physical health of employees is crucial. Creating a culture of sustainability that values ​​diversity, inclusion and continuous training not only improves the work environment, but also enhances innovation and engagement. Employees are ambassadors of company values, and a culture that prioritizes their well-being fosters greater productivity and creativity. Additionally, a culture of internal sustainability allows employees to feel more connected to the long-term objectives of the business, generating a sense of belonging and shared responsibility.

3. Supply chain and data

Companies must improve the visibility of their supply chain, ensuring that sustainability criteria are integrated into all processes, from supplier selection to delivery of the final product. This includes monitoring resource use, waste management and reducing carbon footprint. The collection of high-quality data is essential to evaluate the social and environmental impact of operations. Without accurate data, business decisions can be based on assumptions rather than facts, limiting the benefits of any sustainable initiative.

4. Collaboration with the ecosystem

Family businesses must advocate for sustainability and resilience policies, collaborating with the public sector, academia and other private sector companies. This synergy can generate a greater impact on the community and facilitate access to resources and knowledge. Strategic alliances can open new opportunities for joint innovation projects, improve efficiency in resource management and strengthen the capacity to respond to crises or regulatory changes. Furthermore, a collaborative approach increases the company’s legitimacy in the eyes of society and its stakeholders.

5. Investment in technology

The digitalization of processes is key to improving productivity and sustainability. By investing in technology and data, companies can optimize their operations, reduce costs and improve their energy efficiency. Technological advances make it possible to measure and control environmental impact in real time, which facilitates more agile and efficient decision-making. In addition, automation and the use of artificial intelligence can improve the quality of products and services, while reducing waste and resource consumption.

“Sustainability is not an option; “It is the only way to guarantee the transcendence of family businesses.”

CEO Key Competencies in Sustainability

The role of the general director of a family business in Mexico is crucial for the adoption of sustainable practices. To lead this change, you must possess specific competencies that position you as an effective guide towards sustainable transformation:

Long term vision: The CEO must be able to think of sustainability not as a fad, but as a long-term investment that ensures the viability of the business.

Inspirational leadership: The ability to inspire all levels of the company towards a common vision of sustainability is essential. Leaders must be examples of the values ​​they promote.

Change management capacity: Implementing sustainability involves profound changes in the organization, from mindset to daily operations. A CEO must have the ability to manage and communicate these changes effectively.

Constant innovation: Being aware of new technologies and trends in sustainability is key to keeping the company at the forefront.

Connection with the community: CEOs must understand that their companies do not exist in a vacuum. They must build relationships with local communities and other businesses to create a positive impact on their environment.

Sustainability is an urgency that requires a holistic and proactive approach. CEOs of family businesses in Mexico have the responsibility of leading this change, not only to ensure the continuity of their businesses, but also to leave a positive legacy in society. By integrating sustainability into their strategy, they can ensure that their companies not only survive, but thrive in an ever-evolving world. The significance of family businesses does not depend solely on their financial results, but on their ability to be responsible and resilient in the face of global challenges.

“Sustainability is not only the future, it is the key that opens the door to the permanence and success of family businesses.”

Contact:

Twitter: @mariorizofiscal

The opinions expressed are solely the responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.

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