Technology and innovation. Keys to family business
Technological transformation is necessary in family businesses so that the competitive advantage is not lost. “Innovation has been one of the most important levers in the development of our business activities”, emphasizes Francisco. In this case, olive cultivation has progressed a lot in these two decades thanks, among others, to precision farming, the use of water stress measurement probes or the creation of BIG DATA to apply treatments more rationally.
They also became a global brand by building a new oil factory with the world’s greatest technological developments in 2021. “smart industry”This facility has numerous certifications in processes, quality and food safety, earning them the Best Oil Mill Award in Spain according to AEMO (Association of Municipalities of Olivo in Spain) in 2022.
Innovation is also very present in the creation of new products. In 2008, they pioneered the introduction or production of nearly extinct EVOOs like Royal. “gastronomic oils” such as smoked Arbequinos or those infused with 100% plant-derived marine plankton. Their commitment to technology has even led them to introduce technologies such as blockchain to guarantee the traceability of their products or machine vision to select each olive they use. They are involved in almost 20 R&D projects, including supporting the circular bioeconomy.
passion for sustainability
The CSR section also highlights the ethical and socially responsible management system, which obliges the company to respect sustainability in three aspects: social, economic and environmental, and has received SGE21 certification under the Foretica Standard. Those in charge have implemented policies aimed at reconciling family and work life, promoting equality schemes (85% of managers are women), continuing education and shared responsibility.
In the field of sustainability, being the first company in the sector to receive Carbon Footprint (2011) and Water (2014) certification from DNV; and we participated in the Life project “LIVING OLIVE GROVES” It is managed by SEO-BIRDLIFE to promote regenerative olive cultivation and restore the ecosystem in which the olive grove is located.
What is the formula for maintaining the success of a family business?
“I believe there are no magic formulas. It’s about having clear ideas and setting achievable goals, but it’s also demanding and ambitious… and working with determination and perseverance.”Francisco Vañó says. It also emphasizes the importance of having good teams with concerns and a critical spirit, identified with the foundations of the corporate culture and the company’s projects. “I think it is also important to encourage dialogue and generosity between members in family businesses, to ensure a continuous and regular flow of information, and to talk honestly when problems arise.”” he finishes.