Shaping the Future of Family Businesses: Insights from Patras' Panel Discussion

Family businesses are vital to local economies, and as new generations take on leadership roles, they face unique challenges—from embracing digital transformation to ensuring sustainable growth and a smooth succession. During our recent Road Show to Patras, we hosted a thought-provoking panel discussion that focused on these issues, offering valuable insights from four distinguished business leaders—graduates and students of Alba Graduate Business School—who shared their experiences and strategies for thriving in the modern business world.

The panel featured Augustinos Kotronis, CEO of Kotronis Packaging and an Alba MBA graduate of 2018; Stavros Pappas, COO of PappasClima Ltd. and an Alba MSc Entrepreneurship graduate of 2017 and Alba MBA graduate of 2023; Vassilis Toudopoulos, Founder and Managing Partner of MPDO Consulting SA and an Alba MBA graduate of 2008; and Christos Vyrgiotis, CEO of Divico Security and a current Alba MBA student. Guided by Alexis Komselis, Director of the Alba Hub for Entrepreneurship and Development (AHEAD), these leaders delved into their approaches to managing transitions, fostering growth, and staying agile and future-ready in the competitive landscape of family businesses.

Growth and attracting human capital emerged as key challenges for family businesses. Training for technical roles is considered essential, while succession remains a pivotal moment in ensuring the business’s continuity. Both business partners and financial institutions closely evaluate the capabilities of the next generation during this critical transition.

For younger generations, technology serves as a powerful enabler. It addresses workforce shortages, enhances competitive edge, and resolves several operational issues. In contrast, older generations tend to approach technological tools with greater caution. Technology also accelerates the succession process, with younger leaders often spearheading digital transformation efforts within their family businesses.

Sustainability is becoming a cornerstone for family businesses, driven by European and local regulations mandating sustainable practices, as well as the desire to preserve resources for future generations. Adopting sustainable practices strengthens ties with local communities, ensuring long-term growth and goodwill.

Participants highlighted several Alba MBA courses that have been instrumental in their personal and professional growth within the context of family businesses. Courses such as Ethics, Strategy, and Negotiations were particularly noted for providing valuable insights and practical skills.

This panel discussion exemplifies Alba Graduate Business School’s commitment to fostering dialogue and knowledge-sharing among professionals. By addressing pressing issues such as growth, technology adoption, and sustainability, the event underscored the School’s pivotal role in shaping the future of family businesses in Greece and beyond. The event concluded with a cocktail reception, offering attendees the chance to connect with like-minded professionals and continue the conversations sparked during the panel.