"Values create value," said Franz M. Haniel, Chairman of the family-owned company Haniel Holding, at a recent IESE Alumni Continuous Education event held in Munich.

More than 150 Alumni and guests gathered to hear his presentation, "My Life as an Entrepreneur: Key Decisions and Experiences," which was moderated by IESE Prof. Pedro Nueno.

Since its foundation in 1756, the company has been owned by the Haniel family. Today, Haniel Holding is an international group operating in growth-oriented markets, in a variety of different, independent markets.

While Haniel stressed that there was no clear process to make a family-owned company successful, he views value-oriented and responsible management as a key element to success. Focusing upon the importance of two dominant principals, Haniel believes "hierarchy and performance" are important within the corporation; however "solidarity and fairness" should be at the heart of family governance.

Another key element of the group's success over the past 50 years is due to a fair and transparent set of rules, added Haniel, as well as an iron law that no family member may actively work in the operative business of the holding. Family members are, however, invited take up responsibilities in certain bodies within the company.

Offering an insight into his own entrepreneurial experience, Haniel told alumni that a secret of the company's triumph has been their approach to entrepreneurial decision-making.

"All businesses go through the stages of start-up, growth, maturity and decline. The Haniel approach is to tackle the future prospects of a business whilst in its growth stage, rather than its decline." This attempt to anticipate changes in the market at an early stage creates new structures and improves and preserves what has already been well established.

Prof. Nueno summed up by discussing the key prerequisites of succeeding as an entrepreneur. Held at the offices of Boston Consulting Group, the session was followed by a reception for IESE alumni and friends.

IESE and Germany

IESE launched its Advanced Management Program in Munich, where the school has its own offices. This AMP is designed specifically for senior executives of multinational companies with operations in Germany. Its objective is to offer a higher level of service to businesses who are already IESE clients and to consolidate the work of the school in this region, which has one of the strongest economies in Europe. The program has German roots, but also a pan-European perspective and a global vision of the company and the current business environment.  It is held in English.

IESE's MBA and Global Executive MBA programs draw numerous German students, Germany being one of the most represented nationalities within IESE's MBA Program. IESE's Regional Alumni Chapter organizes a variety of academic and social activities for IESE alumni living in Germany. IESE has offices in Barcelona, Madrid, Munich and New York and offers programs for executives in Shanghai, Sao Paulo, Nairobi and Warsaw.