Even the most successful families experience conflict now and again. In family businesses, conflict is unavoidable. Fortunately, research overwhelmingly shows that it is not the presence of conflict that is detrimental to relationships, rather, it is how conflict is managed.
Few things in life are more satisfying than knowing you have helped another person become a better version of themself. It speaks to the importance and richness of both mentoring and being mentored. It’s a teacher-learner relationship, but it is important to note that we must all be learning at all times.
It is a known fact that family businesses , at least most of them, do not plan for succession. It has recently been estimated that as many as 75% of family businesses have not planned in passing on the baton and who the chosen next leader of the family business is.
Alberta Group Founded by George Barbaro Sant in 1988, Alberta started off as a micro enterprise dedicated to the supply of fire extinguishers.
It’s often said that the typical family business goes from rags to riches and back to rags in three generations. Better governance of a family business can help improve business performance and satisfy the expectations of all family members.
MCE Limited was founded in 1976. The original scope of the company was to trade in plastic raw material and participate in government tenders.
<!–more–>MCE Limited was founded in 1976. The original scope of the company was to trade in plastic raw material and participate in government tenders. In 1982 the company moved to new premises in Valletta. The tool trading division was initiated, and this gave the company its future direction in diversification of trade.
Trading in electrical goods commenced in 1984 and in a very short time MCE Ltd established itself as a leading company in this activity. MCE started to stock and distribute electrical installation and lighting materials, including switchgear, cables, control gear and luminaries. The company’s operations continued to grow and by 1990 the company undertook the first stage of the construction of new offices and stores at MCE House at Qormi.
Construction of the new premises was completed by July 1991. Up till 1994 MCE Ltd restricted its activity to trading and minor contracts, mainly in lightning protection systems. From this date MCE started to venture into the contracting sector including large motor controls, lighting of sports arenas and promenades, installing of stand-by generators, central heating systems, and mainly lightning protection of building.
Jointly with international companies, refurbishment of power plant was also executed. During these years MCE was awarded various awards. These include the International Award for Commerce and the Quality in People Award. In 1996 another landmark was reached when after 18 months of hard work, MCE was successfully audited and certified by the British Standard Organization to Quality Assurance BS ISO 9002. Ten years later this was upgraded to BS EN 9001:2000.
Today the company operates its own quality procedures and is no longer externally audited. At this time, the company embarked also on the enhancement of the electrical division, by including water plumbing material. The division was re-named the Electrical and Plumbing Division.
2006 is another landmark year for MCE as the company not only celebrated 30 years but also initiated another new division, Heating and Ventilation. For the third time in its history, the company realized that it had outgrown its storing facilities, and in 2003 initiated the construction of the second phase of MCE House in Qormi. This phase included new parking facilities, additional storage area, larger offices, and facilities for a new shop for the Engineering and Tooling Division.
In 2018 the company had a restructuring of its shareholding where the spouses Ivor and Susanne Puglisevich purchased the stake holding of the other family members to become the sole new stake holders within the Company. New management, ideas, investments, and consolidation of the main company’s activities has had the desired effect to place the company amongst the major league players. Nicola, their daughter soon joined the management team, driving innovation and modernization within the company processes. During the latter months of 2021, the company embarked on another large investment in the refurbishing program of its two retail outlets with a completion date envisaged by mid-2022, by which time the Company would have overhauled its image and outlook
To many, the phrase “family business” denotes a small or midsized company with a local focus and a familiar set of problems, such as squabbles over succession. While plenty of family businesses certainly fit that description, it does not reflect the powerful role that family-controlled enterprises play in the world economy.
The owners of family businesses wield profound decision-making power. There exist sizable family businesses in which not a euro can be spent without their approval. When this power is channeled appropriately, it confers a major competitive advantage.
This week the Family Business Office, for its 34th edition of Focus On , features the very secretive family business synonymous with the world acclaimed brand C&A considered to be the richest family in the Netherlands , more specifically the Brenninkmeiyer family, now in its sixth generation of ownership.
Family businesses are often lumped together as if they were all the same. But four fundamentally different types of family businesses exist, distinguished by who can be an owner and how owners share control.
