LORD SPICES GROUP, S.L. has enrolled in the PROGRAM TO PROMOTE THE HIRING OF INNOVATION AND COMPETITIVENESS SERVICES: PROFESSIONALIZATION VOUCHER FOR FAMILY BUSINESS MANAGEMENT.
This program aims to advance the professionalization of family business management in order to drive its expansion and consolidation in international markets. It is part of the grants offered by the Autonomous Community of the Region of Murcia, funded by the Development Institute of the Region of Murcia and co-financed by the European Regional Development Fund (ERDF).
What are we aiming to achieve?
- Define and establish the Family Council: the body responsible for safeguarding the family’s vision, values, and generational continuity. Its duties will include:
- Ensuring the transmission of the family’s culture and purpose.
- Setting policies for onboarding, training, and generational succession
- Facilitating communication and cohesion within the business family.
- Development of a Family Strategic Plan: we will draft and implement a plan that aligns the business family and the management team across three key areas:
- Training: learning pathways for family members and key executives (corporate governance, finance, export, compliance).
- Professionalization: definition of roles and eligibility criteria, compensation and succession policies, family protocols, and a governance dashboard.
- International Expansion: opportunity mapping by country and channel, commercial roadmap with certifications and local partnerships, and risk/financing management to support solid growth.
- Define and establish the Board of Directors: the governing body that sets strategy and oversees management. Its responsibilities will include:
- Establishing strategic goals and international growth targets.
- Monitoring executive performance and risk management.
- Ensuring regulatory compliance and transparency.
- Corporate Social Responsibility (CSR) Policy: we will develop and roll out a comprehensive CSR policy focused on three key areas:
- Framework and principles: code of ethics, regulatory compliance, human rights, and responsible sourcing throughout the supply chain.
- Derived actions: sustainability plan (energy efficiency, waste management, packaging), employee well-being and safety, projects with the local community and suppliers, and inclusive employment practices.
- Measurement and reporting: environmental and social KPIs, regular audits, annual targets, and a CSR report to ensure transparency and continuous improvement.
Why is this important?
Because professionalizing our governance means greater agility, tighter control, and added value for our clients and partners worldwide. This reinforces what makes us unique: operational excellence with the soul of a family business.
We continue to turn exceptional ingredients into real growth opportunities… with the same trust as always, now supported by stronger governance structures.
File: 2024.08.HFAM.000035
