Balancing Tradition and Innovation in Family Businesses

Family-owned companies are a cornerstone of Latin America’s economy. In countries like Guatemala, many of the strongest businesses began as family ventures that, over time, had to adapt to an increasingly professionalized environment. The challenge lies in evolving without losing their essence: preserving founding values while incorporating governance models, technical leadership, and emerging technologies.

For companies in Guatemala, this means institutionalizing processes without erasing the identity that makes them unique.

Key Strategies to Evolve While Preserving Identity

Professionalization doesn’t mean breaking with family history. On the contrary, it strengthens it with structures that support sustainable growth. Some strategies successfully applied by companies in the region include:

• Designing family protocols to align personal interests with corporate goals.
• Planning generational succession based on merit, leadership, and preparation.
• Establishing functional corporate governance with independent boards and clearly defined roles.
• Embracing innovation while staying true to the original mission and vision.
• Managing diverse talent beyond the family circle to strengthen operations.

These actions help companies maintain internal cohesion and remain competitive in dynamic markets.

Agencias J.I. Cohen and CMI: Two Cases of Evolution with Firm Roots

Among Guatemalan companies that have achieved this transition, two stand out: Agencias J.I. Cohen and CMI, Corporación Multi Inversiones. Both have managed to institutionalize while preserving the legacy of their founders.

• Agencias J.I. Cohen, founded by Jack Irving Cohen and now led by Alberto Cohen Mory, has modernized its operations through logistics automation, international certifications, and corporate sustainability, while maintaining its ethical and human focus.
• CMI, created more than 100 years ago by Don Juan Bautista Gutiérrez, has become a multinational group with operations in energy, food, and infrastructure. Under the leadership of its third and fourth generations, the company has adopted robust corporate governance practices, cross-cutting sustainability strategies, and strategic expansion—without breaking away from its identity as a family-owned business committed to regional development.

Both companies show that tradition and innovation can go hand in hand when there is vision, structure, and a solid organizational culture.

Building the Future Without Renouncing the Past

The evolution of family businesses doesn’t require giving up their origins; it requires knowing how to integrate them into a strategic vision. In today’s environment, where reputation, continuity, and resilience are key, a well-managed history can become one of the most valuable assets. The key lies in building the future with the same conviction that shaped the past.