HBR  |  Family businesses

When Being a Family Business Becomes a Competitive Advantage

当家族企业成为竞争优势时

When Being a Family Business Becomes a Competitive Advantage
2026-01-07  1868  晦涩
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The Greek paint manufacturerVitex, which we examined over a period of two years and through more than 70 interviews (and where one of us serves as CEO), illustrates this concept in practice. During Greece’s economic crisis in 2014, Vitex’s second-generation CEO, Armodios Yannidis, and his brother John, realized that the company needed to shift from its “professionalized” approach back to the founding principles of their father, Stavros. The management team re-engaged with family-run dealers, who made up 99% of its channel, and family-owned suppliers, who represented 60% of its supply base. By applying an F2F strategy, the results over the next decade were extraordinary: Vitex tripled its revenue, returned to profitability, and emerged as the market leader. This was not because it operatedlessprofessionally, but because it became more intentional about the strengths uniquely available to family businesses.

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