Tomorrow’s leaders learn the ropes at label industry summit

The generation game

3
label
Young managers learning to be successful business bosses relax at Nyakas Winery with some serious wine tasting

Succession planning and smooth handovers of power were on the agenda at a recent meeting of young managers preparing for the day when they will take over the reins from long-serving company bosses. In this case, the spotlight was on label-based businesses, but recommendations for transitioning and moving forward under a new leader, arguably, could work for almost any sector.

Companies in southern Europe are more likely than their northerly cousins, including those in the UK and the Baltic states, to face the prospect of choosing, grooming and installing a next-generation leader. Often built on the dynasty model, firms in France, Italy and to some extent Germany, among others, cherish a long and continuing history of family ownership. The alternatives of transition by acquisition and hiring from outside come with a different set of challenges, but a strategic approach to change management comes with the territory, whatever the circumstances.

Perhaps a more daunting takeaway message for the networking forum set up by the European label association FINAT is this one – to maintain current levels of success ,the next generation of label company bosses will need strong personal qualities and sharp leadership skills in addition to entrepreneurialflair and ambition to innovate. That’s a lotto
ask a younger, less experienced successor. Who is and who is not a natural born leader, and how many styles of good leadership are there?

How to win the generation game – or, what is key to successful leader succession – was a topic close to the heart of delegates at the Young Managers Club Global Summit held in Hungary’s capital city, Budapest. YMC supports the successors of current founders, owners and managers of Europe’s self-adhesive label print industry, giving them opportunities to
learn, interact and develop management expertise. Getting promoted and avoiding pitfalls of leadership, the pain points for a named successor, how to balance work and personal life in a family business, managing expectations and priorities, were debated.

Making changes in a company begins with ‘knowing yourself,’ according to management consultants from Liverpool, UK and using a common psychological test, delegates built a picture of their individual personality. Self-knowledge can improve relationships, self-confidence, personal effectiveness and growth, manage change and conflict, Elaine Eades and Fiona McNamara told their audience.

Keeping up with technical advances is another essential for business leaders. Those relating to self-adhesive labelling were explained by Mike Fairley, industry expert and champion of a modular study programme that leads to formal certification. The Label Academy, as it is known, has been endorsed by LMAI in India and TLMI in the USA as well as FINAT.

FINAT managing director Jules Lejeune focussed on the sector’s capacity to renew and innovate and underlying reasons forits growth atrates above GDP (gross domestic product), and concluded, “Forthis growth to successfully continue developing, energised business leadership is essential, and this summit provided some of the industry’s leading talent with insight, knowledge and practical advice that they can immediately put into everyday use.” FINAT YMC president Dana Kilarksa and recently appointed second-generation managing director of Slovakian label printers Purgina, added, “We are all the leaders of tomorrow – and our task is to be better than yesterday.”

The impact, resilience, and growth of responsible packaging in a wide region are daily chronicled by Packaging South Asia.

A multi-channel B2B publication and digital platform such as Packaging South Asia is always aware of the prospect of new beginnings and renewal. Its 16-year-old print monthly, based in New Delhi, India has demonstrated its commitment to progress and growth. The Indian and Asian packaging industries have shown resilience in the face of ongoing challenges over the past three years.

As we present our publishing plan for 2023, India’s real GDP growth for the financial year ending 31 March 2023 will reach 6.3%. Packaging industry growth has exceeded GDP growth even when allowing for inflation in the past three years.

The capacity for flexible film manufacturing in India increased by 33% over the past three years. With orders in place, we expect another 33% capacity addition from 2023 to 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels have grown similarly. The numbers are positive for most of the economies in the region – our platform increasingly reaches and influences these.

Even given the disruptions of supply chains, raw material prices, and the challenge of responsible and sustainable packaging, packaging in all its creative forms and purposes has significant headroom to grow in India and Asia. Our context and coverage engulf the entire packaging supply chain – from concept to shelf and further – to waste collection and recycling. We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers.

In an admittedly fragmented and textured terrain, this is the right time to plan your participation and marketing support communication – in our impactful and highly targeted business platform. Tell us what you need. Speak and write to our editorial and advertising teams! For advertisement ads1@ippgroup.in , for editorial info@ippgroup.in and for subscriptions subscription@ippgroup.in

– Naresh Khanna

Subscribe Now

LEAVE A REPLY

Please enter your comment!
Please enter your name here