Glossary


Advanced Family business

FB from the second/third generation onwards.


Buffer

A tool to manage your social networks. You can schedule up to 10 posts on all your social profiles. You can also analyse the impact of your posts and the interaction, which will provide you with valuable information to define the profile of your customers or audience and thus, being able to improve and adapt your business strategy, your products or services.


Burnout

is defined as a result of chronic stress and refers to a particular case of mostly work-related chronic exhaustion.


Business risks

The term business risks refer to the possibility that a trading company will generate insufficient profits due to uncertainties.


Conflict

an active disagreement between people with opposing opinions or principles.


Cybersecurity

It is the set of actions, measures and tools used to control IT security and to protect digital and electronic devices, servers, networks and data from malicious attacks.


Digital transformation

To integrate, apply and make use of ICTs and digital technology in the regular operational system of a business in order to improve the efficiency, the service, and the management of the enterprise.


Distress

Negative stressors are those stimuli that are perceived as unpleasant, threatening or overwhelming. Stress is only interpreted negatively if it occurs frequently and there is no physical compensation. Likewise, negative effects can occur if the person suffering from stress does not see any possibility of coping with the situation due to his or her interpretation of the stimuli. In this case, disstress can be prevented by teaching appropriate strategies for coping with stress.


Emergency manual/plan/business continuity pl

is a document that consists of the critical information an organization needs to continue operating during an unplanned event.


Entrepreneurship fundamentals

Motivation, willingness to innovate, to accept and adapt to changes; ease and flexibility to identify possible innovative ideas and intra-entrepreneurs; clear growth objectives; keeping the core management together, with a common business idea and goal of growth; adopting a management model that promotes an entrepreneurial spirit, the flexibility to innovate, evolve and reinvent itself; analysing competitors to differentiate yourself from the rest.


Eustress

Stressors that have a positive influence on the organism. A basic stress or arousal potential is indispensable for the survival of an organism. Positive stress increases alertness and promotes the body's maximum performance without harming it.


Family Agreement

Set of principles and/or rules that establish how to configure and manage relations between the owner family (or families) and the controlled company. It is a tool for directing, orienting and guiding the behavior of families to preserve family and ownership unity and cohesion; it contributes to the success and development of the company.


Family Business Stages

evolution of ownership and management within family businesses.


Family Enterprise

A family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family. But family businesses also face a unique set of management challenges stemming from the overlap of family and business issues.


Generational changeover

special case of entrepreneurial succession that occurs in family businesses.


Governance

organizational and strategic system that favors the dynamic achievement of two objectives: the ability of the owner family to express a clear vision of the future of the controlled business; the possibility of management (whether composed of family members or not) to realize this vision using the best resources available on the market.


Governance system

critical aspect that may define the process of generational changeover; a modern and effective governance system may determine the success of the process.


Hootsuite

A tool to manage social networks with which you can schedule the publication of content on all profiles or on the ones you select, on the same day or on different days. It allows you to interact, respond to comments, receive alerts of any interaction with your networks and launch digital marketing campaigns.


Incoming generation

the generation that is applying or being applied to take over the leadership of the company.


Multi-factor authentication

This system protects you from cyber criminals by requiring two or more pieces of evidence to check identification and give access to the device or data.


Online marketing

This includes automated email marketing campaigns, surveys to personalise your marketing strategy, data analysis, search trends and improvement of your website visibility.


Operational emergency manual

Concrete immediate measures and tips that are divided into three subject blocks: crisis prevention, crisis management and overcoming the crisis


Outgoing generation

the one that led the company and bears the responsibility for the competitive position, the results achieved and the development potential.


Ownership

is the state of owning something. Anything that people own or possess gives them the quality of ownership.


Phishing

It is a type of cybercrime that involves sending fraudulent emails, advertisements or texts, which appear to be from a reliable source or to come from a known person or company, to steal sensitive information like usernames and passwords, bank account details, credit card numbers, etc.


Power of attorney

is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter.


Simple Family Business

FB at their first and second generation.


Skills

critical aspect that may define the process of generational changeover (two limit situations: constancy of skills, radical renewal of skills).


Software

It is an IT term that refers to a computer programme or set of computer programmes, as well as data, procedures and guidelines that enable a variety of tasks to be performed on a computer or IT system.


Stress

any type of change that causes physical, emotional, or psychological strain. Stress is your body's response to anything that requires attention or action.


The cloud

It is a digital space to store, organise and secure your documents, works and sensitive information.