The road to the future for family businesses passes through institutionalization.
Dardanel Founder and Chairman of the Board Niyazi Önen attended the Troya Forum organized in cooperation with ÇASİAD and Istanbul University. Speaking at the session titled "Institutionalization of Family Businesses," where representatives from the business world and academics participated, Niyazi Önen shared his experiences by recounting Dardanel's 42-year journey.
Niyazi Önen, explaining the strong position and importance of family businesses in the global and Turkish economies with statistical data, stated, "70% of companies worldwide, 50% in Europe, and 95% in Turkey are family-owned businesses. Moreover, family-owned businesses constitute 70% of publicly traded companies on the stock exchange, and they contribute to 80% of the gross national product. Since family businesses are valuable for the national economy, their development is equally vital. To sustain the success and value we have achieved as a family, institutionalization is essential. Having a vision is crucial in this process."
"The first step for institutionalization: Family Constitution"
Highlighting that the first step for the institutionalization of family businesses is to establish a "family constitution," Niyazi Önen continued: "At Dardanel, we took the first step towards institutionalization in 1994, which was our 10th year. We initiated institutionalization by going public at that time. I believe that entering the public offering process is important both for self-discipline and from the perspective of the capital market. I also recommend public offering to entrepreneurs in this regard. I believe that establishing the correct and efficient organizational structure and business processes of the company can be achieved through the participation of both family members and professionals. Independent board members at Dardanel contribute significantly to the development of our company."
"Our goal is to increase exports"
Emphasizing that they advance the Dardanel brand each year with a strong corporate structure and vision, Önen stated, "Our goal is to end this year with a turnover of 200 million dollars and to increase our turnovers in terms of both dollars and tonnage. For this purpose, we continue to invest domestically and internationally, with a total investment of 30 million dollars in the last 3 years. This investment includes capacity increase along with the modernization of Turkey's most modern sandwich facility and canned tuna factory. Additionally, our aim for next year is to achieve $50 million in exports."
Niyazi Önen, explaining the strong position and importance of family businesses in the global and Turkish economies with statistical data, stated, "70% of companies worldwide, 50% in Europe, and 95% in Turkey are family-owned businesses. Moreover, family-owned businesses constitute 70% of publicly traded companies on the stock exchange, and they contribute to 80% of the gross national product. Since family businesses are valuable for the national economy, their development is equally vital. To sustain the success and value we have achieved as a family, institutionalization is essential. Having a vision is crucial in this process."
"The first step for institutionalization: Family Constitution"
Highlighting that the first step for the institutionalization of family businesses is to establish a "family constitution," Niyazi Önen continued: "At Dardanel, we took the first step towards institutionalization in 1994, which was our 10th year. We initiated institutionalization by going public at that time. I believe that entering the public offering process is important both for self-discipline and from the perspective of the capital market. I also recommend public offering to entrepreneurs in this regard. I believe that establishing the correct and efficient organizational structure and business processes of the company can be achieved through the participation of both family members and professionals. Independent board members at Dardanel contribute significantly to the development of our company."
"Our goal is to increase exports"
Emphasizing that they advance the Dardanel brand each year with a strong corporate structure and vision, Önen stated, "Our goal is to end this year with a turnover of 200 million dollars and to increase our turnovers in terms of both dollars and tonnage. For this purpose, we continue to invest domestically and internationally, with a total investment of 30 million dollars in the last 3 years. This investment includes capacity increase along with the modernization of Turkey's most modern sandwich facility and canned tuna factory. Additionally, our aim for next year is to achieve $50 million in exports."
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