Most of the Philippines’ largest businesses, including publicly-listed, are founded and significantly family-owned. It is quite challenging for a conglomerate as their operations are steeped in traditions that sometimes conflict with the new ways of doing business.

Isabelle Gotianun Yap, a third-generation steward of the Filinvest conglomerate and Executive Director at East West Banking Corp. (EastWest), recently offered a glimpse into the workings of this intricate world.

The Ateneo Family Business Development Center featured Isabelle during their "The Significance of Governance and Family Engagement in Running a Business" workshop and which was shared with the media.

During the workshop, which was supported by EastWest Priority, the Gotianun heiress showcased her deep understanding of the delicate balance required in managing family businesses.

Her insights shed light on the key elements that contribute to the triumph of family-run enterprises.

As a third-generation heiress, Isabelle said that when it comes to business talk and honing management skills, it starts at home in her family-run conglomerate.

Isabelle gave a glimpse of how it was to grow up in an environment where business, profits and bottomlines are part of the conversation all the time.

Isabelle Yap 1.jpg — Isabelle Gotianun Yap, Executive Director at East West Banking Corp.

She discussed about the family business of Filinvest Corp. and its banking unit EastWest, and their best practices.

The third-generation steward of the Filinvest conglomerate gamely “shed light on the key elements that contribute to the triumph of family-run enterprises” by giving her “deep understanding of the delicate balance required in managing family businesses,” according to EastWest.

In the course of the workshop, Isabelle shared the Gotianuns’ very much hands-on approach to the family business.

Isabelle recalled her and her cousins’ experience rolling up their sleeves and engaging in various aspects of the business from a young age.

One of the cornerstones of the Gotianun family's success is their commitment to ensuring that every family member understands not just the specifics of their family business but also broader business principles. Education and business exposure serve as a critical foundation.

During their formative years, “they served as food court busboys and managed cinema booths during summer vacations. These seemingly mundane tasks instilled in them a deep appreciation for the hard work and effort needed to sustain and grow a family business.”

Now working in the family enterprise, Isabelle stressed the importance of ongoing professional development and leadership.

As in all family businesses, all the Gotianun heirs went through coaching and mentoring.

Her advice to aspiring leaders within family businesses is to “actively chart their career path.” By doing so, Isabelle said, they avoid getting “stuck in the weeds” even while receiving guidance from mentors and parents who may have limited time for comprehensive career planning.”

Isabelle formed her trust and forged a unity early on in preparation for her entry into the family business.

According to Isabelle, her childhood was fun but summer vacations were not just about leisure but also valuable life lessons.

Her grandparents, Andrew and Mercedes Gotianun, the visionary founders of Filinvest, ensured that these trips involved everyone, from grandparents to grandchildren, working together on activities and chores. These experiences fostered trust and enduring relationships, creating bonds that proved invaluable in both personal and professional settings.

This way the Gotianun family ensures success by enabling “every family member” with the know-how and training about their family business and the broader business principles. In short, Isabelle said, “education and business exposure serve as a critical foundation.”

With her family mentoring as crucial support, Isabelle went on to study at the Ateneo and Singapore Management University followed by an MBA at the Harvard Business School. She also had management training at Singapore Telecom and Consultant at McKinsey & Co.

Isabelle emphasized the importance of periodic family conferences that they always plan together, and this occur every couple of years.

These conferences serve as avenues for discussing essential business matters, sharing family history, and revisiting the family constitution. “Conferences also serve as another venue for team building and family bonding all the way up to the fourth generation,” Isabelle was quoted in the article.

Now working in the business, Isabelle stressed the importance of ongoing professional development and leadership. The Gotianun heirs facilitate their personal growth and enhance their capacity to serve their businesses effectively through coaching and mentoring.

The Gotianun family's journey is a testament to the power of unity, trust, and unwavering commitment within family businesses.

As they skillfully weave the threads of tradition and innovation, their story demonstrates that, with dedication and a clear vision, family legacies can not only endure but also thrive across generations. It serves as an inspiring example for all those navigating the intricate terrain of family-owned enterprises.

Isabelle’s insights into the Gotianun family business sustainability give many young entrepreneurs an idea of how it is to grow up within a setting where one will follow an elder’s footstep in the family enterprise.

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