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Tuesday, 23 June 2015

IHU supports family business initiatives

IHU supports family business initiatives

Numerous family business representatives filled IHU amphitheater in 18 June to take part in an event entitled “Family business rebranding”. The event was organised within the context of promoting the MSc in Management and the Executive MBA. A new module is added from this year in the Msc in Management entitled “Family Business Management” in an effort to link the university with family business and to provide academic and practical support to small and medium sized family businesses that form the spine of the Greek economy.

The event was coordinated by Costas Andriopoulos, Professor of Innovation and Entrepreneurship, Cass Business School, City University London and Coordinator of the Msc in Management at International Hellenic University while the Vice Mayor for Economic Development Mr Petros Lekakis gave a welcome address representing the Municipality of Thessaloniki.

In his initial remarks Professor Andriopoulos introduced some important statistical data relating to family business, such as the fact that they constitute two thirds of business globally, according to a study by Harvard Business School, as well as the fact that 70 to 90 % of the global GDP annually comes from family business.

Success and cooperation among generations was the focus of the first debate speech among Stefanos Tziritis (President and  CEO), Thanos Tziritis (Executive Vice President) and Ioanna Tziriti (Marketing Manager) representatives of ISOMAT SA Company. During their speech the family members analysed the way in which succession in the family company takes place and also the two succession scenarios, that of the “dedicated” successor and the “resistant” successor one. The aim is twofold as it encompasses the parallel growth of both the company and the successors.

The presentation of three cases studies followed by the owners of the companies Kwnstantinos Custom Made Shoes, Mr Konstantinos Theofanidis, The Felters, Mr Konstantinos Chatziagapoglou and COCO-MAT, Mr Kostas Madenas.

Mr Dimitris Papazoglou (Designer-Creative Director, and Ms Zoe Karakosta (Project Manager) gave a speech about the role of design in achieving strategic objectives for a family business and the use of applications of visual communication in targeted rebranding.

Succession in family business was the focus of the speech by Dr Konstantinos Georgakas of Gecon Consulting, who discussed reasons of failure for many family businesses analyzing the problem areas. According to Dr Georgakas, in order for succession to be smooth in companies, there is a need to clearly define the role of each member in terms of employment, remuneration, training and evaluation.

Finally Panagiotis Tzinis of Google Developers talked on “How to train Dad in new technologies” and the event ended with questions and discussion with the participants.

It is worth noting that in September 2015 the International Hellenic University is organizing another event concentrating on the financial operation of family businesses.  

You can view pictures of the event here.
Watch videos of the speeches here.

For more information on International Hellenic University please visit

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