Business Partners | July-August 2012

BUSINESS

bponline.amcham.gr

JULY-AUGUST 2012 Vol. XI | No. 61

The Human Age

Growing Leaders From Within ▼

Washington Outlook

The Symbiotic Sino-Greek Relationship ▼

Generation Innovation

Ignite the Innovation Ecosystem ▼

Moving Markets

The Challenge of Investing in Europe and Greece ▼

Viewpoint

Junior Achievement ▼

Plus Names & Faces

AMERICAN-HELLENIC CHAMBER OF COMMERCE www.amcham.gr

Chamber Committees—

Building Growth and Development

CHAMBER.PRESS ISSN 1109-4990 CODE: 6526

Volume XI | Number 61

CHAMBER.PRESS

contents

AMERICAN-HELLENIC CHAMBER OF COMMERCE bponline.amcham.gr

AMERICAN-HELLENIC CHAMBER OF COMMERCE

13 Rodi Kratsa-Tsagaropoulou, Member of the European Parliament and EP VicePresident (2007-2012), on the challenge of investing in Europe and Greece

16 Chairs of the Chamber Committees discuss the vital role of committees in the Chamber

6

4 THE BOARD

6 Washington Outlook

Alexandros Petersen discusses the symbiotic Sino-Greek relationship

The Symbiotic Sino-Greek Relationship

by Alexandros Petersen

7 TRAVEL usa

Discover America—Iowa

8 Chamber News

1 1 Generation Innovation Ignite the Innovation Ecosystem

by Panayotis Tzinis

11

1 2 The Human Age

Growing Leaders From Within

by Dr Venetia Koussia

Panayotis Tzinis on igniting the innovation ecosystem with Ignite Greece

1 3 Moving Markets

The Challenge of Investing in Europe and Greece

by Rodi Kratsa-Tsagaropoulou

B u s i ne s s Part n ers i s the b im o nthly magazine o f t he A m er ican- He llenic Ch amb e r o f Comm erce DIRECTOR Elias Spirtounias e.spirtounias@amcham.gr PUBLISHER & EDITOR Raymond Matera materay@ath.forthnet.gr Please Recycle

ADVERTISING Raymond Matera materay@ath.forthnet.gr DESIGN snack• PRINTING & BINDING A. PSILLIDIS & CO

OWNER American-Hellenic Chamber of Commerce Politia Business Center 109-111 Messoghion Avenue 115 26 Athens Tel: +30 210 699.3559 Fax: +30 210 698.5686-7 E-mail: info@amcham.gr BRANCH OFFICE 47 Vassileos Irakleiou Street 546 23 Thessaloniki Tel: +30 2310 286.453, 239.337 Fax: +30 2310 225.162 E-mail: n.tsavdaroglou@amcham.gr

1 4 Names & Faces in the News 1 6 Thought Leaders

Chamber Committees— Building Growth and Development

3 0 In Profile

Innovation Rooted in Tradition—Pelopac

3 1 In Profile

A Starbucks Cup of Coffee Can Make a Difference

3 2 Viewpoint

Junior Achievement—”Best Virtual Enterprise 2012”

JULY-AUGUST 2012 | BUSINESS PARTNERS |

DIRECTOR’S DESK

Following an extended period of political uncertainty, two elections, and multiple delays in proceeding with national reforms, it is now time for the Greek State to operate in overdrive—the future of a nation depends on it.

One of the most crucial issues in need of immediate attention and radical action is the serious decline of Athens—the nation’s capital, a global point of reference, the fountainhead of Western civilization.

This city, dear friends, home to almost half of all Greeks, has become a festering wound, languishing in despair and disrepair, a symbol not of our achievement but rather our failure—as a society, as a people, as a government. Just eight years ago Athens hosted an impeccable Olympic Games, had every opportunity to leverage that success and capitalize on a wave of optimism and positive energy.

Instead, every ounce of potential was squandered and wasted, the victim of political interests. And we remain the only country in the world that has failed to build a glorius legacy from such a monumental event. It is a national shame. Athens today is an inhospitable city with serious problems related to crime, homelessness, cleanliness, and the use of public space. And we, Athenians, have, to a great extent, kept on the sidelines, waiting for solutions from an economically and morally bankrupt State.

Can we reverse this downward decline? Yes, we can. It is difficult but not impossible. Other major cities all over the world have faced similar problems and have managed to overcome them—by creating and implementing a strategic plan to rehabilitate their cities. We require a plan that will attract private investment for the development of physical, cultural, social, commercial, and athletic assets.

We require individual initiative and collective consent that will welcome new behaviors, responsible positions, and produce a citizen-friendly city that is open, secure, alive, and stimulating.The business community, with a developed sense of social responsibilty, can contribute significantly to mobilize residents in the redevelopment and transformation of neighborhoods.

A consensus on measures must be reached that includes a zero tolerance approach to unlawful and destructive behaviors, legally binding programs to rehabiliate or demolish abandoned buildings, and defintive actions toward unsocial, unlawful, and unwelcome street activities. Athens can wait no longer.

It is time to act. Not with half measures, not with half-hearted policies. We must be bold, we must be brave, we must be decisive. Now. Elias Spirtounias Executive Director

The American-Hellenic Chamber of Commerce A Dynamic, Proactive Chamber The American-Hellenic Chamber of Commerce was established in 1932 and is one of the largest, most active, and dynamic American Chambers in Europe. Virtually all American companies that do business in Greece and Greek companies that engage in trade with the United States are members of the Chamber.

The Chamber's membership is comprised of more than 1,000 proactive companies that seek to expand business horizons, create new business partnerships, and take advantage of trade and investment opportunities in today's global economy.

The American-Hellenic Chamber of Commerce is an active mem-

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ber of the U.S. Chamber of Commerce in Washington D.C. and the European Council of American Chambers of Commerce (ECACC).

Mission Statement The American-Hellenic Chamber of Commerce strives for continuous improvement of American-Hellenic commercial and financial relations, through increased membership and through the organization of top-quality events, exhibitions, fora, seminars, and congresses on both sides of the Atlantic.

American-Hellenic Chamber of Commerce Executive Committee

Committees

Gramatidis Yanos President | BAHAS, GRAMATIDIS & PARTNERS

Auditors Committee

Kyriacou Marios T. Vice President | KPMG CERTIFIED AUDITORS A.E.

Members: Felonis Athanassios, Papakosmas Dimitrios, Sabatakakis Kyriacos | Coordinator: Andriana Chadjianagnostou

Bakatselos Nikolaos Vice President | PYRAMIS METALLOURGIA A.E.

Corporate Governance Committee

Karayannis Angelos Secretary General | KARAYANNIS K. GROUP OF COMPANIES Panayotopoulos Litsa Treasurer | BOSTON HAMILTON LTD. Anastassopoulos Simos Counselor | PETSIAVAS N. S.A.

Chair: Papacostopoulos Constantinos | Members: Charalambous Yiangos, Dimou Ioannis, Petalas Apostolis, Siamishis Andreas, Hadjisotiriou Paula, Theodoulidou Maria | Coordinator: Daphne Constantinidou

Corporate Social Responsibility Committee

Bacacos George Counselor | BACACOS P. CHEMICAL & PHARMACEUTICAL

Chair: Stavridis Stelios | Members: Alexiou Maria, Constantelis George, Lolas Vassilis, Vrachatis Ioannis | Coordinator: Angela Boyatzis

PRODUCTS CO. S.A.

Environment & Energy Committee

Charalambous Odysseas Counselor | CISCO SYSTEMS HELLAS S.A. Papadopoulos Thanos Counselor | CHEVELLAS S.A. Spirtounias Elias Executive Director

Members: Aloupis Constantine, Bakouris Costas, Karayannis Angelos, Manos Alexandros, Melissanidis Dimitris, Mytilineos Evangelos, Nomikos Elias, Papadimitriou Spyros, Papavasileiou Athanasios, Peristeris George, Stefanakis John, Yannopoulos Sotiris, Yiannopoulos Emil | Coordinator: Angeliki Dikeoulia

Greek Economy Conference Committee

Chair: Kyriacou Marios | Members: Anastassopoulos Simos, Antoniades Vassilis, Bacacos George, Yannopoulos Sotiris | Coordinator: Angeliki Dikeoulia

Innovation & Education Committee

Board of Directors Ahmed Pervaiz | BRISTOL-MYERS SQUIBB A.E. Antoniades Vassilis | THE BOSTON CONSULTING GROUP Antonopoulos Constantinos | INTRALOT S.A. - INTEGRATED LOTTERY SYSTEMS AND SERVICES Canellopoulos Paul | CHARTIS GREECE S.A. Costas Stavros | Economist Costopoulos Alexandros | FORESIGHT Strategy & Communications Costopoulos John | HELLENIC PETROLEUM S.A. David George | COCA-COLA HELLENIC BOTTLING COMPANY S.A. Filiotis Dionysios | PHARMASERVE-LILLY SACI Frangou Angeliki | NAVIOS MARITIME HOLDINGS INC. Gaudreault Pierre | PFIZER HELLAS S.A. Kartsanis Georgia | CEO CLUBS GREECE Kokorotsikos Paris | EUROCONSULTANTS S.A. Kosmatos Makis | JOHNSON & JOHNSON HELLAS S.A. Kouides Antonis | B.E.R.M.A. A.E. Koutsoureli Eftychia | QUEST HOLDINGS S.A. Kyriakides John | KYRIAKIDES GEORGOPOULOS & DANIOLOS ISSAIAS

Chair: Panayotopoulos Litsa | Members: Darda Dimitra, Farmaki Teresa, Lelakis George, Makios Vassilios, Makridakis Spyros, Papadakis Georgios, Patakiouti Maria, Pateraki Evangelia, Persidis Andreas, Pilitsis Loukas, Printzos Michael, Raptopoulos Manos, Rizopoulos Yannis, Tsangos Christos, Tsiboukis Antonis, Tsigos Dimitris, Tsoukalis Alexandros | Coordinator: Katerina Tzagaroulaki

Insurance, Social Security & Labour Matters Committee

Chair: Kremalis Konstantinos | Members: Andriopoulos Stavros, Canellopoulos Paul, Christidou Agni, Damaskos George, Kollas John, Koussia Venetia, Lisseos Panayotis, Lysimachou Triantafyllos, Mihos Stathis, Nikolaidi Eirini, Panagiotou Andreas, Papadopoulou Elena, Pelidis Manos, Sarantopoulos Dimitris, Vlasopoulos George | Coordinator: Voula Tseritzoglou

IPR Committee

Chair: Katerina Galanopoulou | Members: John Kyriakides, Antonis Makris, Dora Zachou, Xenophon Paparrigopoulos | Coordinator Daphne Constantinidou

Leadership Committee

Chair: Miropoulos Artemis | Members: Griveas Polychronis, Kalligeros John, Katsivelis Pavlos, Kerastaris Antonis, Kofinas Kyriakos, Olympios Spyros, Panteliadis Aristotelis, Rabbat Vassilis, Saracakis Alexandros | Coordinator Xidou Ritana

Medical Devices & Diagnostics Committee

Chair: Liakopoulos Theodore | Members: Anagnostopoulos Stefanos, Anastassiou Giannis, Andria Magdalini, Boulougouris George, Deligiannis Konstantinos, Derkos Kalogridis, Kartalis Christos, Krinos Gregory, Lindholm Magnus, Maroutsis George, Nikas Dimitris, Strouzos Anastasios, Tsangarakis George | Coordinator: Tseritzoglou Voula

Northern Greece Committee

Chair: Bakatselos Nikolas | Members: Accas Ioannis, Alexopoulos Charis, Gigilinis Alexandros, Kafatos Vassilis, Katsaros George, Kokorotsikos Paris, Kouides Antonis, Kouimtzis Thanasis, Koukountzos Konstantinos, Mavroudis Theodoros, Pylarinos Othon, Symeonides Dimitris | Coordinator: Nikos Tsavdaroglou

Pharmaceutical Committee

Mamidaki Eleftheria | MAMIDOIL JETOIL PETROLEUM COMPANY S.A.

Chair: Apostolides Pascal | Members: Charalampidis Savas, Filiotis Dionysios, Frouzis Konstantinos, Gerassopoulos Marcos, Greco Roberto, Katzourakis George, Kefalas Nikos, Pateraki Evangelia, Gaudreault Pierre, Pervaiz Ahmed | Coordinator: Voula Tseritzoglou

Manos Alexandros | PIRAEUS BANK S.A.

Public Affairs Committee

LAW FIRM

Meintassis Harry | HAY GROUP S.A.

Members: Anastassopoulos Simos, Kyriacou Marios, Papadopoulos Thanos | Coordinator: Xidou Ritana

Papalexopoulos | TITAN CEMENT COMPANY S.A.

Taxation Committee

Passaris Despina | PROCTER & GAMBLE HELLAS LTD. Plessas Dennys | LOCKHEED MARTIN (INTERNATIONAL) S.A. Priamou John | U.S. Commercial Counselor (ret.)

Saracakis John D | SARACAKIS BROTHERS S.A. Stavridis Stelios | PISCINES IDEALES A.E. Symeonides Dimitris | MEVGAL S.A. DAIRY PRODUCT INDUSTRY Synghelides Polychronis | CHRYSLER JEEP DODGE HELLAS S.A. Tamvakakis Apostolos | NATIONAL BANK OF GREECE S.A. Yiannopoulos Emil | PRICEWATERHOUSE COOPERS BUSINESS SOLUTIONS S.A. Zeritis Panos | THRACE PAPER MILL S.A.

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Chair Costas Stavros | Members: Altiparmakis Christos, Ampeliotis Evangelos, Anastasiadis Harris, Antoniou Vassilis, Desipris Antonis, Doucas Spyros, Gigantes Stavros, Goulakos Panos, Gouvaris Vassilis, Kanellatou Athena, Kerameus George, Kyriakides Stelios, Laskaratos Panagiotis, Mavraganis George, Mitsios George, Nasiopoulou Maria, Panagiotidis George, Papadatos Eugene, Papandreou Cristina, Samothrakis George, Sarafoglou Gerasimos, Savvaidou Katerina, Sfakakis Konstantinos, Spyriouni Litsa, Stavropoulos Ioannis, Stavrides Vassilis, Theophilides George, Trakadi Maria, Tsakonas Yannis | Coordinator: Katerina Tzagaroulaki

Tourism Committee

Chair: Stylianopoulos Andreas | Members: Ananiadis Tim, Anglos John, Argiri Byron, Marriott Carol, Panayotopoulos Panos, Papadopoulou Catherine, Peressiadis Costas, Van de Winkel Bart | Coordinator: Angeliki Dikeoulia

Women in Business (WIB) Committee

Chair Kartsanis Georgia | Members: Adamopoulou Efi, Anagnostopoulou Popi, Athanassoulas Elena, Dimou-Lampadari Maria, Katsou Nelly, Kazakopoulou Betty, Panagopoulou Varvara, Papakonstantinou Ioanna, Sideri Anastasia, Tarou Iphigenia, Thomas Marielle, Tzimea Deppie, Velliotou Peggy | Coordinator: Angela Boyatzis

Washington Outlook

by Alexandros Petersen

The Symbiotic Sino-Greek Relationship

E

ven though it may now be hitting a couple of rough patches, China is the global economic powerhouse that has famously weathered the storm of the financial crisis, its production and its politics intact.

Greece is considered by many to be the eye of the storm, the locus of economic collapse and near political failure around which swirls the fate of the developed West.

But, Chinese and Greeks have a lot in common. Both hail from and are unendingly proud of their ancient civilizations, legacies that have shaped the modern world. While it is still only in the tens of thousands per year, Chinese tourism to Greece has increased exponentially over the past decade. Upper middle class Chinese I speak to seek to travel to France, Italy and Switzerland for shopping, but they want to visit Greece—even as they watch riots and political turmoil on television—to take in its immense cultural heritage. There are two Greek tourism centers in China and before the last elections, Greek tourism officials were said to be working on streamlining the visa procedure for Chinese tourists, as well as encouraging daily flights from Beijing to Athens.

As part of research for my next book, I have

| BUSINESS PARTNERS | JULY-AUGUST 2012

spent large parts of the past year in China, conducting interviews with analysts and policymakers, as well as travelling through remote parts of the country to witness the strikingly fast-paced development transforming every corner of this rising power.

Greece is on the mind of a lot of Chinese lately. Before the elections, economists the world over had predicted that a Greek Euro-exit would spread crisis contagion all the way to China, rocking or even tipping over one of the global economy’s only steady boats. Predictably, Chinese markets soared on the news of a pro-bailout victory. Everyone from economics professors to small business owners is watching. They view Greece as a liability, but also as a potential opportunity.

As Chinese investors, lead by the government, seek to take advantage of the downturn to snatch up cheap assets around the globe, many of them view Greece as a “gateway to Europe.” China’s government owned shipper COSCO famously bought

On the face of it, China and Greece may seem like opposite ends of a spectrum.

much of Pireaus port two years ago. Their cost-effective, if at times rough around the edges, running of the facility has spurred interest in further investments, reportedly up to 60 billion Euros worth, across Greece.

Government officials, as well as ordinary Greeks, often speak of Chinese investment as a sort of panacea to lift the country out of its morass.

In certain sectors in China, there is still a lot of store put on the course of Greek business. The Chinese government has pledged five billion Euros in loans to Greek ship owners in a bid to resuscitate the flagging global shipping industry on which Chinese shipyards depend. Some companies, such as Danaos, took the loans, but so far most Greek shippers have played it conservative, to the consternation of Chinese builders, some of which have not received orders for almost two years.

As was recently noted by the Economist, in a fascinating if teasingly curt blog post, China is only now fretting about achieving something that Greece achieved a long time ago: transitioning from a middle income to a high income country (according to World Bank metrics). Greece achieved this before the bubble that lead to the financial crisis. It was largely there before joining the Euro zone. One of only 13 countries to achieve this. Even as Chinese pat themselves on the back for being at the other end of the spectrum from current Greek economic troubles, they look to Greek economic history for guidance on how to move forward.

Alexandros Petersen is the author of The World Island: Eurasian Geopolitics and the Fate of the West, available on Amazon.com. His research on China can be found at www.chinaincentralasia.com.

Travel USA

On the occasion of Greece’s entry into the Visa Waiver Program, the U.S. Commercial Service of the American Embassy in Athens is showcasing all 50 states and five territories in Business Partners.

Discover America—Iowa ★

I

owa is a land overflowing with genuine hospitality, historic sites, sophisticated cities, beautiful rolling countryside and four seasons of nature at its very best. The mighty Mississippi River on Iowa’s eastern edge provides opportunities for boating, fishing, canoeing and bald eagle watching. The Great River Road National Scenic Byway, one of the most famous and longest scenic and historic drives in the US, is a federally-designated route covering 3,000 miles of federal, state and county roads that generally follow the mighty Mississippi from Canada to the Gulf of Mexico.

In the west, the Loess Hill National Scenic Byway allows travelers to explore the rare and spectacular natural landscaping of the Loess Hills region of western Iowa, a fragile place of unique prairie flora and wildlife, farms and villages, nestled together among the Catstep hills. Bluestem and scarlet sumac ripen under the big skies atop this rich yellowbrown loess – ancient soil gathered by winds of a receding age of ice into a high wall that follows the vast Missouri River Valley. The rugged range rises abruptly from the flatlands on the west and melts into the rolling plains on the east, extending 200 miles. In between, travelers will find world-class attractions, charming communities and fabulous events.

Des Moines

THE HAWYEKE STATE Land Area 55,869 square miles Population 2,926,334 State Capital Des Moines Largest City Des Moines Local Time CST – 8 hrs behind Greece Climate Four distinct seasons – ranging from an average high of 74°F (23°C) in August to an average low of 17°F (8°C) in January National Parks 2 National Parks

 For more information: Iowa Tourism Office Tel: 00 1 515 725 3000 E-mail: tourism@iowa.gov Web: www.traveliowa.com

JULY-AUGUST 2012 | BUSINESS PARTNERS |

CHAMBER NEWS

Athens Tax Forum 2012

Annual General Assembly

The Chamber held its 8th Athens Tax Forum 2012 on July 13 at the Athens Hilton with the participation of 270 delegates, the Deputy Minister of Finance, and a noted tax specialist from Vienna. The conference, with the title Excessive Taxation and Tax Evasion –Obstacles to Economic Development and Growth, was held at a critical time. The Forum is designed to shed light upon the structural transformation of the tax system into one that is streamlined and effective, aimed at combating over taxation and tax evasion.

Deputy Minister of Finance George Mavraganis, who was a member of the Chamber’s Taxation Committee prior to being appointed Deputy Minister, delivered the keynote address. Professor Friedrich Schneider of the University of Linz, an expert on tax evasion, spoke on methods to identify and combat tax evasion, citing best practices from other countries that might be effective in Greece.

The premium sponsors of the Forum were Ernst & Young and Deloitte; sponsors were Diageo and Kyriakides, Georgopoulos & Daniolos Issaias (KGDI Law Firm), and conference supporters were Grant Thorton, Papastratos, SAS Institute, RSM Stylianou and Cisco. Communication sponsors were Naftemporiki Newspaper, SBC and Business Partners and Web sponsors naftemporiki.gr and Business Partners Online.

Deputy Minister of Finance George Mavraganis

Ioannis Diotis

Harry Theoharis

The annual General Assembly meeting of the American-Hellenic Chamber of Commerce took place on June 13, 2012 at the Hotel Grande Bretagne.

This was the second call of the General Assembly meeting and according to the by-laws, there was a majority quorum.

The items of the agenda were: 1 Approval of the previous General Assembly meeting minutes (June 27, 2011) 2 Management Report 3 Auditors’ Committee Report 4 Approval of the Annual Statement of Accounts for the year 2011 and the Budget for the year 2012 5 To exempt the Management and the Auditors’ Committee from any responsibility 6 Election of new Auditors Committee 7 Approval of new members of the Chamber

Stavros Costas

Friedrich Schneider

Georgette Lalis

The meeting commenced with the welcome address of the Chamber President, Yanos Gramatidis, and according to the first subject of the agenda, the minutes of the General Assembly of June 27, 2011 were read and unanimously approved.

Cathrine Kay Farewell Reception

The President referred to the activities for the year 2011. He also pointed out the difficult year in relation to Greece’s political and economic issues and stressed that the Chamber, with targeted activities and a focus on important issues of the business community, achieved many benefits for its members.

The Chamber hosted a farewell reception in honor of the departing Consul General of the United States, Catherine Kay. The event took place on Thursday June 14, 2012 at the Pool of the Hyatt Regency Hotel in Thessaloniki. Members of the Chamber and prominent executives of the business community enjoyed a pleasant and rewarding evening.

All the subjects of the agenda were unanimously approved by the members of the American-Hellenic Chamber of Commerce.

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Agrotechnology Conference The Chamber and its Northern Greece Committee, in cooperation with the American Farm School of Thessaloniki, held its 1st Agrotechnology Conference, “Hellenic Agriculture 2012-2020; Agricultural Production, A Leading Pillar of Development in Greece,” on June 11, 2012 at the Perrotis College of the American Farm School.

The conference focused on the local, regional and worldwide challenges facing the Agrotechnology Industry today which precipitate the redefinition of strategies adopted by the EU, Greece, and businesses and farmers to provide competitive, differentiated products while ensuring the sustainable development of this sector.

More than 140 delegates attended the day-long event which explored theoretical as well as practical agricultural issues aimed at enhancing the quality of agricultural production in line with international trends. Agrotechnology is expected to contribute to regional development and Greece’s international competitiveness.

Conference sponsors were Pelopac and Krokos Kozanis Products; conference supporters were Redestos Efthymiadis Agrotechnology Group, Olympos Dairy Industry, and Starbucks; and communication sponsors were Agelioforos, Agrenda, and Kerdos Newspapers, TVS Channel, Business Partners, And the portals Ageioloforos, Green Business and Agronews.

The Conference was supported by the Organic Products Cluster of the Federation of Industries of Northern Greece, the Panhellenic Union of Young Farmers and the Friends of the American Farm School Club.

Nikolaos Bakatselos

Yanos Gramatidis

Minister of Agriculture Athanasios Tsafstaris

Yanos Gramatidis

WIB Luncheon The Women in Business Committee of the Chamber hosted a luncheon with Rodi Kratsa, European Parliament Member and Vice President, 2007-2012 on May 25, 2012 at the Hilton Athens Hotel.

Ms. Kratsa spoke on “Using Women’s Potential: A Necessity for Growth in the EU.” She discussed the challenges of growth and competitiveness facing the EU, the programs that are being designed to support development in the EU and programs targeted at women entrepreneurship, the role of women as entrepreneurs and managers in key positions of responsibility and the EU’s campaign for woman board quotas.

Rodi Kratsa

Georgia Kartsanis

JULY-AUGUST 2012 | BUSINESS PARTNERS |

CHAMBER NEWS

Corporate Social Responsibility Conference The Chamber and its Corporate Social Responsibility Committee held its 10th annual Corporate Social Responsibility conference, Building Responsible Companies – Solutions for a Better Tomorrow, on June 7 at the Athens Ledra Marriott Hotel.

The conference addressed today’s challenging social and economic environment in which CSR practices must be redefined and, at the same time, allow companies to be responsible to their core business mission.

The conference, attended by 200 delegates, also focused on responsible leadership and explored new CSR perspectives for solutions for a better tomorrow within the parameters of key CSR spheres: the marketplace, people and the workplace, and the environment.

The conference sponsor was Diageo Hellas, the conference supporters were Vodafone, Coca-Cola Hellenic Bottling Company, Hellenic Petroleum, Novartis Hellas, Abbott Laboratories Hellas, Athens International Airport, Edenred, Mamidoil-Jetoil Petroleum Company, Pfizer Hellas, and the communication sponsors were Kerdos Newspaper, SBC, Euro2day, Eurocharity, Green Business, Business Partners, and CSR Review.

Marios T. Kyriacou

Maria Alexiou

Stelios Stavridis

PANEL DISCUSSIONS

AHEI Seminar The American-Hellenic Chamber of Commerce, through AHEI, participated on June 22, 2012 at the 7th PanArkadic Exhibition, where the “How to do Business in the USA” seminar was successfully held.

The seminar was organized with the full support of the Chamber of Arkadia.

During the event participants had the opportunity to discover the ins and outs of the U.S. market. Special attention was given to the process of starting exporting activity toward the U.S. market and how to avoid mistakes that can minimize success.

Chamber Supports Private Equity & Startups Forum The Chamber supported the 2nd Private Equity & Startups Forum organized by Financial-Academy on June 21-22 at Cotsen Hall, The American School of Classical Studies at Athens. The two-day event attracted participants from Greece’s private equity and start up communities who shared insights and strategies for moving forward in today’s challenging environment. Chamber Executive Director Elias Spirtounias and Treasurer Litsa Panayatopoulos spoke at the forum. Business Partners was media sponsor.

Chamber Calendar September 11 Athens, Hilton Athens, 11th HealthWorld Conference September 11 Thessaloniki, ICBS Business School, Corporate Responsibility: When companies become citizens September 18 Athens, Conference entitled: Strategy of profitability, competitiveness and sustainability of businesses in Greece during the crisis, in cooperation with ICBS September 28 Athens, Presentation of Leadership Survey September Chania, How to do business in US seminar

10 | BUSINESS PARTNERS | JULY-AUGUST 2012

Generation Innovation

by Panayotis Tzinis Founder, Ignite Greece

Why is it important to talk about an Innovation Ecosystem in Greece?

Ignite the Innovation Ecosystem

F

or many entrepreneurs and innovators slogging away building real companies and inventions, an Innovation Ecosystem may seem abstract, remote.

We have been seeing, however, manifestations of the Big Missing Something. The financial crisis in 2008 was such a manifestation, and is keeping Greece in recession. The increasing inequality between the richest and poorest is another such manifestation. The protests of young people that started from Greece and circles the world said many different things on the surface, but they all seemed to point to some common, invisible thing underneath. There is deep discontent, and not only in Greece.

Financial instability. Social inequality. Political disruption. We see footprints of this elusive, mischievous beast!

We will gather in Athens on September 20, kick starting a new conceptual approach, attempting to observe these untamed elements, to grapple with them, and to tame them. A lot must be done, deconstructed and re-constructed! Lost principles, values and interactivity should be our first priority—to scale up our growth! Culture matters. Community matters. Trust matters.

Dreams matter. Values matter!

“The reason that fuzzy things matter is because they help us overcome the barriers that naturally divide us. And only when those barriers are lowered do the raw materials of innovation and economic

growth – ideas, talent, capital – flow more efficiently throughout the entire system, like vitamins in an inter-linked root system.”—Victor W. Hwang Society in Greece has vast potential and must come together with common purpose to achieve economic prosperity and growth.

Innovation ecosystems, basic models that foster “social” activities and clearly state the needs and requirements of shareholders and stakeholders, must be unified and clustered to become sustainable.

“Highly productive human networks resemble natural rainforests in this way –it is not just the presence of basic ingredients; it is the recipe of serendipitous tinkering that causes the bounty.

“In Silicon Valley, a living, breathing system emerges when a trust-based, collaborative community reduces countless transaction costs in the innovation process. We need freedom from the informal social constraints caused by distrust, fear, miscommunication, and distance! Fortunately, the social networks of the future no longer need to be imprisoned in geotagged positions, as we can build overlapping social networks that traverse the boundaries of the past!”—Victor W. Hwang If humans can define the detailed surfaces of Mars, discover the subatomic particles that create mass, surely we Greeks can understand and shape the process by which we will interact with one another productively.

Greece needs freedom from constraints!

That is what we hope to achieve in Greece with Ignite: Begin an Innovation Ecosystem! In Greece there is a consistent critical mass. There is momentum for the innovator and startup community to build what will be the next Generation Innovation, even though there is fragmentation, silos distant from each other and isolated, but that, with a common understanding, can influence one another! It is time for all of us to come together and together build our future!

Ignite it in fact.

What is Ignite Athens?

Do you have a great, innovative, smart idea?

Do you want it to be heard by top leaders?

Ignite Athens gives you the place, the audience and 5 minutes to present your idea and expand your network.

Ignite is about ideas that can change the world, that can affect people’s lives, that are shaping our future, that identify “Generation Innovation.”

When?

Thursday, September 20, 2012, Athens, Greece Where?

Onassis Cultural Center  http://igniteathens.gr

JULY-AUGUST 2012 | BUSINESS PARTNERS | 11

The Human Age

Helping leaders succeed.

by Dr Venetia Koussia Managing Director, ManpowerGroup

mediately assume responsibility for his or her own success? Or could it possibly mean that the selection criteria were inadequate and focused too much on experience and job knowledge with too limited a concern for readiness from the people management side of the leader’s new responsibilities? It could be both.

Growing Leaders From Within

Making it work

D

espite the varied implications of our current volatile market conditions, the one constant is the need for an exceptional workforce. One of the greatest lessons learned throughout the past few years is that the talent organizations employ has emerged as the single most important element of sustainable differentiation. Specifically for Greece, the success of an expected turnaround greatly depends on whether or not organizations have the right talent in place, and effective leadership is at the core of such decisions.

How can organizations develop the leaders they need? A recent Right Management1 survey of over 1,400 CEOs from 707 organizations across the globe shows that leadership development is not a “one-size-fits-all” approach. As can be seen below, the competencies that are most critical for C-Suite roles are distinctly varied, depending on the role itself: Top Competencies Required

CEO

CFO

CIO

CLO

COO

Creating a Strategic Vision

91.7

16.8

22.0

23.1

24.1

Inspiring Others and Maintaining Leadership Responsibility

62.3

15.6

15.8

35.8

33.4

Developing an Accurate and Comprehensive Overview of the Business

56.9

56.1

31.2

9.7

56.1

Decision Making

54.5

42.7

31.8

30.5

51.8

Selecting and Developing Successors and Key Reports

40.4

21.1

19.9

41.1

27.5

Identifying and Focusing on Critical Priorities

34.4

51.6

44.6

37.5

50.5

Politically Astute

31.9

10.3

10.7

27.4

16.3

Initiative to Produce Appropriate Change

29.9

18.2

29.8

37.9

36.0

Objective Self-Assessment of Own Limitations

19.6

15.1

16.4

20.0

18.4

Technical and Business Competence/Expertise

18.1

61.4

70.5

40.7

49.7

Factors Leading to Derailment As leadership turnover for non-performance or other leadership dissatisfaction issues remains a challenge for many organizations, the survey also identified the following top-4 factors contributing to the failure of senior leaders: Failure to Build Relationships and a Team Environment (40%), Mismatch for the Corporate Culture (32%), Failure to Deliver Acceptable Results (25%), Unable to Win Company Support (25%).

If leadership success is accepted as being critical to an organization’s performance, why is so little support given to leader on-boarding and early development? Could this be due to the assumption that if organizations make the right selection, the individual will im-

12 | BUSINESS PARTNERS | JULY-AUGUST 2012

Based on the above, the leaders’ development “curriculum” should include exposure to the real-world experiences of strategic leaders, as well as an introduction to executive stakeholders at the most senior levels of the business. Leadership development should also be grounded in real work and focused on the top competencies required for success in different C-level roles. Real-life work situations need to be carefully selected in order to develop the right parts of the success profile for high potentials, supported by a mixture of stretch assignments, mentoring opportunities and action learning efforts. The creation of predictive and validated criteria, supported with consistent metrics, to better evaluate the performance of high potentials in real-life situations is also required.

The Business Case for Investing in Leadership Development Why invest in leadership development? For two main reasons. Firstly, the costs associated with failure or ineffective executive transitions are high. Lack of adequate support for talent during crucial periods can have long term negative impacts for both leaders and the organization. Secondly –and equally important-, the leader’s role is the greatest catalyst for success, as leadership behaviors directly influence employee engagement levels.

1

Right Management (www.right.com) is a global leader in talent and career management workforce solutions within ManpowerGroup.

Moving Markets

by Rodi Kratsa-Tsagaropoulou Member Of The European Parliament EP Vice-President (2007-2012)

The Challenge of Investing in Europe and Greece

I

am convinced that European funds and mechanisms will contribute to efficiently create an attractive investment environment in all the member states.

In this context, my report on “Attractiveness of investing in Europe,” adopted by the Plenary of the European Parliament, calls for an integrated and ambitious European strategy on investments.

My proposals aim at maintaining the EU as the first destination for foreign investments in the light of increased competition by developing countries as well as encouraging domestic investments. It is important to stress that U.S. companies remain Europe’s biggest foreign direct investors, providing 1028 projects that correspond to 26% of the total, when China and Japan represent 4% each, providing almost 12.000 employment positions in total. We should be concerned, though, that only a quarter of member states are among the top 35 countries in the entrepreneurship ranking. Economic cohesion and convergence in Europe as well as a balanced investment base should constitute our targets, after taking into account that 26% of investors consider north EU area as an attractive destination, when only 3% of private sector leaders are interested into investing in south European economies.

It is urgent to fully exploit all competitive

advantages that the largest single market offers for business firms, human workforce, entrepreneurs, and innovators, aiming at the elimination of barriers and obstacles and greater coordination of fiscal and tax policies. It is also necessary to maximize the added value of the Structural Funds’ resources, the high-quality human capital, the infrastructure and the innovation and research capacity, while enhancing complementarities between EU Member States’ development policies.

Therefore, the EU should move towards establishing new innovative financial tools such as project bonds, promote publicprivate partnerships, ensure an adequate transparency framework for attracting sovereign wealth funds, and promote higher participation in EU venture capital funds.

A European growth strategy should also include a more active role for the European Central Bank in injecting liquidity as well as a higher participation of the European Investment Bank in promoting investment plans and synergies.

The EU must introduce investments as a key horizontal element in all flagship initiatives within the EU 2020 Strategy in order to highlight the role of investment policies in tackling the fiscal crisis and its consequences. Being the market leader in inward

It is clear that growth and development are the most significant EU priorities in order to achieve fiscal consolidation, increase competitiveness, reduce disparities and create employment opportunities.

foreign investments, the EU also needs to speed up negotiations with major trade partners in order to conclude free trade agreements after considering new trends and opportunities in international trade. I hope, in particular, that the USA will overcome its concerns in order to reach an EU-U.S. Free Trade Agreement as a means to boost economies on both sides of the Atlantic. Such an agreement will also strengthen the global economy, considering that the EU and the U.S. economies already account together for about half the entire world GDP and for nearly a third of world trade flows.

Therefore, I strongly believe that a European Observatory for investments could contribute in monitoring the implementation of European and national policies and their macroeconomic effects through new variables measuring the investment environment, as well as globally promote the EU as an investment destination.

Attracting investments to the entire Europe on a balanced basis is the key for growth and jobs. Our strategy should be decisive, innovative, and integrated while following bold steps towards this direction. Such policies at a European and national levels would also be multiply beneficial for Greece, since they will offer new opportunities and added value to our national efforts.

JULY-AUGUST 2012 | BUSINESS PARTNERS | 13

NAMES & FACES

...in the news  Fulbright Reception The Fulbright Foundation in Greece held its annual awards reception on June 21 at the residence of the Deputy Chief of Mission of the United States Embassy Virginia L. Bennet. Fulbright Foundation Greece Executive Director Artemis Zenetou and U.S. Ambassador to Greece Daniel Bennet Smith addressed the guests and Fulbright award winners. Also on hand was Deputy Assistant Secretary of State Bay Fang. The Ambassador congratulated the 51 recipients of Fulbright scholarships this year. Such exchanges, he said, not only advance arts and science in candidates’ fields of specialty, but also foster mutual understanding, thereby constituting a key pillar in the longstanding partnership and friendship between the United States and Greece.  Skills & Drills Tour Cyprus 2012 A few days before the end of the second year of Aon plc’s Manchester United shirt sponsorship, Manchester United Soccer Schools coaches made a stop in Cyprus, giving over 70 children the opportunity to learn how to play the Manchester United way. Aon plc is the principal partner and global shirt sponsor of Manchester United.

Gerald Turner, chairman of Aon Greece said: “Through our partnership with Manchester United we had the chance to get closer to our clients in a different atmosphere from the everyday routine. We all celebrated today the values of teamwork, innovation and passion for success, which characterize both Aon and Manchester United.  EuroCharity Book Presentation On July 5, EuroCharity held a event at the National Library of Greece to present its annual yearbook, Leadership for Sustainability. The American-Hellenic Chamber of Commerce was a supporter of the event.

Speaker’s Corner 14 | BUSINESS PARTNERS | JULY-AUGUST 2012

New Offices, Randstad Hellas Randstad, one of the largest recruitment and HR services companies in the world, celebrated their new office in Athens with a reception May 17, 2012. The new office is located on the 13th floor of the Athens Tower.

At the event, Leigh Ostergard, Managing Director of Randstad Hellas said: “We have been Leigh Ostergard fortunate to have grown for the last two years, especially in these times, and we continue to grow today. We are very grateful for the positive momentum that we have. I am frequently asked by colleagues locally and abroad, ‘how do you do it?’, but of course it is due to many reasons. The one answer that comes to mind every time is the people. It is our clients, our candidates and our staff, who work so hard and never give up.

They believe in a better day, thus this is the reason why Randstad invested in our new offices for the future.”

New Offices, Amway Hellas On Tuesday June 12, George Apostolopoulos, Amway Hellas General Manager, inaugurated the new headquarters of the Greek subsidiary of the direct sales company Amway, in Marousi. Present at the event were Deputy Mayor of Marousi Nikolaos Alepous, the President of the American-Hellenic George Apostolopoulos Chamber of Commerce Yanos Gramatidis, and Betty Alexandropoulou, Commercial Advisor of the American Embassy.

Also present were 100 Amway owners from all Greek regions, and Amway Europe executives; Peter Strydom, Amway Europe Sales Vice President; and Michael Meissner, Amway Europe Corporate Communications Vice President.

Best Wishes The Chamber wishes best wishes to Consul General in Thessaloniki Catherine Kay, Paul R. Malik, Counselor for Economic Affairs; and Political Officer Vaida Vidugiris at the U.S. Embassy who are leaving Greece this summer.

That Glass Again

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.

—Winston Churchill

Truth Be Told

If you tell the truth, you don’t have to remember anything.

—Mark Twain

 KPMG Moves Vaggelis Apostolakis, General Manager and Head of the Advisory Sector at KPMG, is taking on additional duties as Deputy Senior Partner. Christian Thomas, who has been working in KPMG as Deputy TS & Forensic Director has been promoted to Partner (General Director) at the department of Transaction Services & Forensic. Siana Kyriakou, Chartered AcSiana Kyriakou countant (Greece and UK FCCA), Partner and assistant to the President and CEO of the company, and responsible for the company’s marketing, will have more extended duties in her new position as KPMG’s Chief Operating Officer.

Friedrich Schneider Professor of Economics, University of Linz, Austria

Tax Evasion— Some Solutions What concrete measures, against tax evasion and for more efficient tax collection, could be undertaken in Greece?

1 A tax amnesty, which should be done only once every 25-30 years, could be installed. If evaded tax revenues are declared and/or brought back to Greece a flat rate of 25 or 30% should be paid. Afterward a high punishment should be installed.

2 The introduction of a monetary incentive scheme for tax collectors; e.g. 5% of those additionally collected revenues are redistributed to them and/or are used to buy better equipment for them.

3 Potential evaders should get a letter from the tax office arguing that there is some evidence of potentially evaded tax revenues, offering them to pay a 20% tax rate of this sum and nothing further happens—or they have a tax audit with all consequences.

4 Every Greek household can deduct a certain amount of paid value added taxes, e.g. 500 Euros out of a collection of a turnover of 7.000 Euros and bills showing the value added taxes.

5 Small businesses or enterprises pay a fixed amount of taxes of 1.000-5.000 Euros from a turnover of from 15.000 to 50.000 Euros and the normal rate from 51.000 Euros turnover. From the tax authorities only the turnover is checked.

 University of Indiannapolis Graduation The University of Indiannapolis held its graduation ceremony on June at the Caravel Hotel Athens. Guest of Honor was U.S. Ambassador Daniel Bennet Smith. The American-Hellenic Chamber of Commerce was honored for its CSR initiatives and Chamber Treasurer Litsa Panayotopoulos delivered the commencement address.  New York College Graduation New York College held its graduation ceremony at the Glyfada Golf Club on July 11. Petros Doukas, former Deputy Minister of Finance and Dimitris Maniatakis, former CEO of the Public Power Corporation delivered commencement addresses.  Greek Smartphone The Greek IT firm MLS announced the development of the first Greek smartphone, the MLS iQTalkTM. The Greek smartphone uses an Android operating system that also ‘understands’ and ‘talks’ Greek.

The device combines voicerecognition technologies (Talk) with artificial intelligence (iQ) technologies. MLS CEO Ioannis Kamatakis said first Greek mobile phone incorporated “extremely interesting innovations.”  Business Partners Online For more articles, interviews, videos, and stimulating content, visit Business Partners Online at http://bponline.amcham.gr/

A Little Clarity Please

Just Do It, 1900

Just Do It II, 1900

—Albert Einstein

—Theodore Roosevelt (1858-1919)

—George Bernard Shaw

If you can’t explain it to a six year old, you don’t understand it yourself.

Do what you can, with what you have, where you are.

Life isn’t about finding yourself. Life is about creating yourself.

JULY-AUGUST 2012 | BUSINESS PARTNERS | 15

Thought Leaders

Chamber Committees—

Building Growth and Development 16 | BUSINESS PARTNERS | JULY-AUGUST 2012

Chamber Committees play a key role in setting the Chamber agenda, organizing Chamber events, and establishing Chamber policy and positions. The Committees of the Chamber, each dedicated to a specific sector or focus area, also influence national policy as well as impacting regional and transAtlantic developments that affect commerce, trade, investmetn and social relations. Businesss Partners presents the Committes to publicize their key role in the American-Hellenic Chamber of Commerce. —Raymond Matera

JULY-AUGUST 2012 | BUSINESS PARTNERS | 17

Thought Leaders

The Corporate Governance Committee

T

Papacostopoulos Constantinos C.PAPACOSTOPOULOS & ASSOCIATES LAW FIRM

he Corporate Governance Committee of the American-Hellenic Chamber of Commerce was established approximately four (4) years ago and its members have, due to their position, excellent knowledge not only of the way of corporate governance but also of the general economic environment in which businesses have to operate.

During its term of service the Committee has performed a substantial role for the promotion and spread of the principles and best practices of corporate governance.

Corporate Governance is about the exercise of power over (private or public) corporate entities.

However, a broader definition could be that corporate governance is about trust.

yet to occur. Present practice is still rooted in a 19th century legal concept of the corporation that is totally inadequate in the emerging global business environment.

Having admittedly organized very successful congresses and speeches in which top representatives of the business community and the institutions have participated, the Committee has assisted the business community to realize the value of the principles and best practices of corporate governance and enter into productive discussions about the way and extent of their implementation.

The Committee meets on a regular basis and its activities are not limited only to the organization of events, but they are also extended to discussions about topics, which, either due to importance or due to special interest, it considers that

A broader definition could be that corporate governance is about trust Today Corporate Governance is changing rapidly on many fronts especially because of: • Society’s changing expectations of Directors and Board • Changes in ownership patterns • Growing corporate complexity • Cultural considerations • Rule based or principles based Corporate Governance approach etc Overall Corporate Governance continues to evolve. The metamorphosis that will determine the bounds and the structure of the subject has

18 | BUSINESS PARTNERS | JULY-AUGUST 2012

they should constitute the object of discussions among the business community with the aim to form an action plan.

The Committee welcomes the submission of applications by any businessperson who has sufficient knowledge of corporate governance issues or/and participates in the taking of significant business decisions in his company to participate in the Committee’s sessions. Furthermore the Committee actively pursues cooperation with other institutions (private or public) which have the same or similar object.

The CSR Committee

T

he CSR Committee of the Chamber is dedicated to transmitting knowledge and CSR applications to Greek and multinational corporations and to act as a catalyst toward the government and stakeholders, so that CSR is seen as the necessary social capital of companies in their quest for success.

In today’s fast-changing world, companies are challenged to think differently to create opportunities and deliver sustainable economic, environmental and social value. The current economic and social crisis has brought to the forefront the need for re-thinking business models and, through collaboration and leadership, to create businesses for the future.

The activities of the CSR committee, through its annual CSR conference, focus on the marked change in business today, that an effective CSR strategy is vital more than ever in natural capital, enhancing reputation and competitive edge, human capital management and employee engagement, community investment and partnerships.

Those individuals who fully understand the impact of their decisions and actions on society and the environment may be considered to have a CSR mindset. Social responsibility is a habit that creates better professionals, better citizens and better societies. Social responsibility is all about us, since each and every once of us are the catalysts who initiate actions and dialogues on change for the better.

The CSR Committee was one of the first bodies in Greece, ten years ago, to begin an annual event on building socially responsible companies. The Chamber’s CSR conference has become an established institution that acts as a dynamic forum to discuss best practices, introduce new concepts, examine case studies, and create a dialogue about the socially responsible position of companies in our society.

One of the key components of the conference—and the CSR Committee in general—is

to include all stakeholders in the conversation, so that employee and employer, neighbor and business partner, supplier and customer, all become part of the CSR loop, all are seen as integral parts of our enterprise and social system. And of course we have identified the need to address environmental questions since we all depend on natural resources to do business—air, water, earth, flora and fauna.

Today, we are faced with extraordinary challenges in Greece. Many of us have recognized that Greece faces a challenge that is rooted in ethical and moral failure as much as in fiscal and economic mismanagement. Under these circumstances, the CSR Committee has an especially strong mandate to bring these social

Stavridis Stelios PISCINES IDEALES S.A.

Social responsibility is a habit that creates better professionals, better citizens and better societies issues to the forefront, to delve deeper into the need to operate with high standards, and to raise social concerns that affect the direction of business, the government, and the citizen.

The government of Greece has a daunting task ahead. It is necessary for the Chamber, and its CSR Committee, to shine a light on areas that must be changed. One of the most effective ways to do that is to set an example, to lead in best practices, and to maintain the important dialogue on CSR issues.

We are optimistic that the Committee will succeed in its task. The dedication, participation and social responsibility of our members ensure better times ahead.

JULY-AUGUST 2012 | BUSINESS PARTNERS | 19

Thought Leaders

Innovation, Education, and Entrepreneurship Committee

Panayotopoulos Litsa BOSTON HAMILTON

The Situation in Greece

Objectives

The committee strongly believes that innovation and entrepreneurship are directly connected with the educational system. The educational system in Greece lacks a national strategy, is still based on rote learning, and is mostly of low quality. Little or no effort is made to teach students critical thinking skills and innovation and entrepreneurship, so critical for success, are almost completely ignored at all educational levels. As a result, Greece holds one of the last positions in the worldwide ranking regarding innovation and entrepreneurship.

• To prove the value of innovation and entrepreneurship by presenting successful examples and emphasize the role of young people in cre- ating new firms and huge value added to the economy and employment.

• To emphasize the role of education (both academic and lifelong) and its contribution in developing innovative and entrepreneurial people capable of critical thinking and self motivation.

• To be practical in helping entrepreneurs succeed in their efforts by establishing a prize for innovative proposals while also helping those with good ideas to connect with business angels and venture capitalists, by running—among other projects—the biannual Make Innovation Work competition.

• To organize and host events for those interested in learning more about innovation and entrepreneurship and their link to higher productivity and greater profits for companies as well as the country as a whole.

Obstacles

The educational system in Greece lacks a national strategy, is still based on rote learning, and is mostly of low quality

Bureaucracy, lack of transparency and political will, vested interests and the prevailing mentality prevent changes in the educational system at all levels, from elementary to university. Government officials control all aspects of education, teachers and professors do not allow any changes that would affect their vested interests, businesses do not believe in educating/training their employees (Greek firms spend the least of all EU countries in education per employee) while young people feel that their chance of succeeding in opening a new firm is zero without political or other connections.

Purpose To assure that the real sense of innovation is explicitly understood and implemented in any facet of everyday life that leads to successful development, production, and jobs creation.

To introduce the existing and successful best innovation practices.

To assure that the critical importance of a highquality education is well understood and persuade all political forces, the academic and the business community that without such education, centred on critical thinking and innovation and entrepreneurship, Greeks and Greek companies will not be capable of competing and succeeding in the global village.

20 | BUSINESS PARTNERS | JULY-AUGUST 2012

Actions • Create clusters of innovation in key sectors and encourage innovation and entrepreneurship, that will create and market new, high value adding products and services for the global marketplace • Create incubators to facilitate the process of transforming new ideas into commercially successful products and services • Through conferences and seminars, persuade politicians, government officials and business executives that without innovation and entrepreneurship Greece will not be capable of becoming competitive and close the gap in its external trade • Encourage the young generation that they can succeed through their creative ideas if they persevere and develop an entrepreneurial spirit • Help new entrepreneurs develop a realistic business plan and facilitate their efforts to successfully commercialize their ideas • Advocate for the constructive connection between educational and business ecosystem

Insurance, Social Security & Labor Matters Committee

T

he mission of this Committee is to establish a forum that observes and evaluates the developments in the private and public health and insurance sectors and the labor market in Greece so as to make recommendations to improve the insurance and labor environment and foster relationships and partnerships between the public and the private sectors to the benefit of the Greek Economy.

The Committee advances the interests of the companies or members that it represents regarding the most important human resource matters, which usually have a financial impact on managerial decisions making. The role of the Committee is to prevent financial risks or to resolve existing conflicts based on incorrect information or wrongful interpretation of the existing regulations, administrative practices, or case law.

The Committee aims to encourage investment and fair competitiveness by proposing efficient insurance and labor incentives, and by criticizing inadequate bureaucratic procedures or outdated legal provisions. In the long run the Committee may succeed in elaborating a code of best regulations and practices as far as insurance, social security and labor matters is concerned.

So, the Government could entrust the drafting of pieces of legislation or the cooperation in simplifying law codifications. More precisely, Chamber members may gain advantage from this Committee by formulating specific questions to be investigated or by submitting elaborated proposals to be confirmed regarding affiliation to social security schemes, contributions payment, the setting up of private or occupational insurance schemes, recruitment and vocational training, adaptation of labor relationships to real needs, and the like.

It was clear from the outset that many insurance, health and labor disputes are created or maintained because of the underdeveloped dialogue between employers and employee representatives. Many times, the social partners discuss problems in a very creative way, but the Govern-

ment refuses to formally approve the results of their negotiations in order to keep labor relations under control. Moreover, there are many complaints that supervisory authorities do not offer the best possible services and that transparency guarantees are urgently required. The Committee hosted a public conference on “pension funds” where some of these key issues were examined in the framework of a questionaire answered

by Chamber members. Committee meetings were held with technocrats from employers’ and employees’ research centers, where common issues and/or compromises were identified.

Other Committee meetings aimed at the

Kremalis Konstantinos KREMALIS LAW FIRM

Chamber members may gain advantage from this Committee by formulating specific questions to be investigated or by submitting elaborated proposals implementation of private public partnership schemes. In this way a social consensus in view of system rationalization is significantly promoted. Moreover, the Committee participants take the opportunity to discuss a variety of advantages or adaptation difficulties regarding social protection schemes which are successfully applied in selected countries. Of course, the Committee faces the challenge to evaluate and propose insurance and employment policy measures in an adverse financial environment.

However, its members apply a multidisciplinary approach, which makes possible a fruitful exchange of opinions and the design of realistic proposals for safe implementation.

JULY-AUGUST 2012 | BUSINESS PARTNERS | 21

Thought Leaders

Intellectual Property Rights (IPRs) Committee

T Katerina Galanopoulou BSA in Greece

he term “intellectual property” (IP) includes a diverse range of areas, the main being patents, trademarks, copyright, trade secrets and unfair competition. Thus, the Intellectual Property Rights (IPRs) Committee is a committee whose members’ expertise or interest is in the intellectual property sector, for example software, brands, music, movies.

Its mission is not limited to certain companies or members that it represents; this Committee advances the interests of the society is operates in; it is not about sales. According to worldwide studies, States experience adverse economic impact caused by intellectual property violations, mainly due to reduced GDP and tax losses. This further leads to decreased jobs and imposes obstacles for the development of local economies

One of the Committee’s major priorities is ongoing training at the enforcement and judicial level on IP law and procedures and new investment (local and international).

The main mission of the Committee is to create awareness on government and public levels and to assist by sharing worldwide best practices, adapted to the Greek reality.

The main two challenges that the Committee faces in Greece are the lack of proper trademark legislation and the lack of proper copyright protection execution (including the proper announcement of any execution). Since this Committee is relatively new, it was considered important to engage

22 | BUSINESS PARTNERS | JULY-AUGUST 2012

in discussions with a number of authorities, such as the Copyright Office and the Ministry of Finance, and other stakeholders to identify the critical points of intellectual property violations in our country and then work on a plan for distribution to decision makers.

The Committee initiated the Intellectual Property Conferences in 2010, where IP specialists and experts present issues and share their experiences. Proprietary rights are the core subject of these events where the challenges (both legal and financial) as well as their contribution to innovation are presented. Several sections were further deployed: the politics against proprietary rights violation and their impact on the international economy, the legal framework and protection measures, and the corporate strategies within the current legal and financial environment. According to such presentations, even though the evolution of current legislation is an important step, the definition of Proprietary rights as a priority in the course of the strategy formation of a government will have a significant impact both on a social and financial level: corporations are waiting for their Proprietary rights to be protected to develop and contribute to the evolution of innovation, and governments will gain from such contributions, in the form of new jobs and taxes.

One of the Committee’s major priorities is ongoing training at the enforcement and judicial level on IP law and procedures. The establishment of specialized IPR courts in all Greek cities would help toward the improvement of judicial expertise and make proceedings less time consuming.

As for enforcement officials, there is a lack of expertise in IP related departments, whereas there are trained experts in other departments, who only need more specialized training on intellectual property, such as on-the-scene proper identification of counterfeit products (e.g. brands) or of illegal software or of illegal media. Starting with these simple organizational changes we could witness significant developments in the IP arena.

Leadership Committee Vision 2020 (LCV2020)

L

CV 2020 has, since its beginning, aimed at producing and sharing value, and Greek leadership quality content, rather than reproducing imported knowledge.

We successfully concluded a major survey with the help of Alpine college, which allowed us to bring local data and trends on talent and mobility to post-graduate students of the University of Piraeus and the Athens University of Economy and Business (asoe) through presentations and panel discussions.

We have presented in front of line staff of large corporations and we have been invited to extend such presentations to private universities and support post-graduate students through

run by teams at the University of Piraeus, with professor Pollalis and the University of Athens, with Professor Panigirakis, aiming to present the results to a larger audience in fall.

LCV2020 has also forged a valuable partnership with the American School of Classical Studies at Athens (ASCSA) to produce a series of vignettes that would connect Greece’s antiquity to leadership lessons relevant to today’s social and corporate environment. Distinguished archaeologists and scientists will form work teams with the members of LCV2020 and will together attempt to tell stories, most of which are unknown to the public, and connect them to leadership related themes and competences on values and ethics, strategy and innovation,

Miropoulos Artemis LINKAGE GREECE

LCV2020 has forged a partnership with the American School of Classical Studies at Athens to produce a series of vignettes that would connect Greece’s antiquity to leadership lessons relevant to today’s social and corporate environment. mentoring, with LCV2020 members acting as mentors and coaches.

The crisis evolved as we were developing our program and activities.

We decided to retain our initial goal, unwavering from our vision, which is to help young people become better leaders. We chose to focus strongly and do a better job, which kept us protected against distractions and the frustrations of the times.

LCV2020 is currently concluding a second round of surveys, again on talent and mobility, this time

judgement and decision making, teamwork, team culture, social culture and others.

We believe our society and corporate leaders can find endless sources of energy, courage and optimism if we manage to get in touch with our history and roots.

Leadership Lessons from Ancient Greece could be high-value leadership learning material that could help not only Greeks but people around the world, and this is precisely our goal as we explore multi media ways of expressing the format of the end product of our efforts.

JULY-AUGUST 2012 | BUSINESS PARTNERS | 23

Thought Leaders

Medical Devices & Diagnostic Equipment Companies Committee

T

Liakopoulos Theodore JOHNSON & JOHNSON HELLAS MEDICAL

he Medical Devices and Diagnostic Equipment Companies Committee is dedicated “To create a proactive forum that appraises development and quality in the healthcare system modernization process in Greece. Based on local expertise and in alignment with official recognized European and U.S. accepted business practices, the Committee contributes and supports the reinforcement of the Greek healthcare system and its reformation for the betterment of the citizens and the state. The views, expertise and knowledge provide to the Greek health care system from Committee members will provide a vital and value added contribution to the aims of the Committee.”

Under the umbrella of such an institution as the American-Hellenic Chamber of Commerce, we manage to share views and ideas, formulate thoughts, and design action plans that are presented to the appropriate authorities to strenghthen the health care environment in Greece. The companies that comprise this group have the right to protect their interests in a dynamic and volatile environment that constantly operates under constant uncertainty. As an industry group, we have decided many years ago to invest heavily in this market and we are helping the Greek healthcare system to stay alive.

Our primary responsibility is to the doctors, nurses, patients and all others that use our products and services. In meeting their needs, everything we do must be of high quality and we constantly strive to

Our Committee participated in an open dialogue with the Ministry of Health and its responsible units, as well as with the members of the European Task Force. . . aimed at revitalizalizing the Greek healthcare system

24 | BUSINESS PARTNERS | JULY-AUGUST 2012

reduce our costs in order to maintain reasonable prices in a system that does not pay in a normal, regular fashion.

During the last year our Committee participated in an open dialogue with the Ministry of Health and its responsible units, as well as with the members of the European Task Force, presenting a working document/position paper that had several proposals aimed at revitalizing the Greek healthcare system.

• Budget allocation at hospital and at hospital unit level • Implementation of the appropriate infrastructure for funding and payments across the entire system • Design and Implementation of an effective DRG (Diagnosis Related Group) reimbursement method • Procurement methodology to include proper price and quality evaluation • Performance-based payment of health care professionals • Health technology assessment committee • Access to clinical information • Outpatient surgery/ambulatory surgery • Training and development of all stakeholders Moving forward, our MD&D group can develop value-based innovation and demonstrate cost-efficiency and health outcomes to fulfill needs of payers and policy makers.

Payers can achieve health productivity and efficiency by prioritizing value, not just price.

Policymakers can build better cost models and avoid silo-based budgeting.

Healthcare institutions can work together for increasing efficiency and productivity.

Patients can play a more active “informed” role in managing their own care.

In this effort, the MD&D Committee is always open to discuss and collaborate with all stakeholders, and is ready to overcome all the challenges that are brought up by an unstable and unpredictable environment.

North Greece Committee

T

he North Greece Committee’s mission is to plan, design and coordinate the Chamber’s activities in Northern Greece. It is comprised of more than a dozen prominent members of the local business community who were carefully selected among our members to represent, as accurately as possible, the composition of the various spheres of activity to the local economy.

North Greece Committee members have a proven record of contribution to the Chamber’s actions, to which they add value through their in-depth knowledge of industry, commerce and service sectors. The objective of the Committee is to identify business issues that need to be redressed and assume appropriate initiatives that play an important and constructive role toward local development.

The Commitee has a long-standing record of

North Greece Exporters’ Association, as well as institutions such as Anatolia College and the American Farm School. Moreover, it has co-organized a series of business dinners with the other four bilateral Chambers of Thessaloniki. Naturally the Committee has facilitated the building of ever-closer relations with the United States Consulate General in Thessaloniki.

Looking to the future, the biggest challenge facing the North Greece Committee is closely linked to the problems facing local businesses, namely, an adverse, unstable environment, with the State offering little, if any, support and even impeding their development. As such, the Committee has strived to provide a high level of services to Chamber members, while maintaining and expanding the Chamber’s membership base.

We believe that the current economic climate poses great challenges but also great opportunities for businesses. During hard times the

Bakatselos Nikolas Pyramis Metallourgia A.E.

The biggest challenge facing the North Greece Committee is closely linked to the problems facing local businesses successful business events including luncheons, seminars, conferences and business missions.

Some recent examples of initiatives that have gained the acceptance of the business community are the Tax Forum, the Agrotechnology Conference and the Preparing for the Unpredictable seminar on ways to cope with the current crisis.

The Committee recognizes that strength comes through cooperation. As such, it has fostered strong partnerships with business organizations such as regional Chambers, the Federation of Industries of Northern Greece and the

best line of defence is to attack, so a dynamic outlook has been adopted. The Committee has used its history and know-how toward developing a strong intervening role and will continue to do so. It also aims to provide support to the country’s political forces so that the changes necessary for local development are enacted.

Furthermore, in order to realize the region’s full potential, a global outlook is needed. Hence we keep a keen eye on neighboring markets. Turkey, for example, is a country that we will soon be seeking to foster strong partnerships with.

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Thought Leaders

Pharmaceutical Companies Committee

T Apostolides Pascal ABBOTT LABORATORIES (HELLAS S.A.)

he Pharmaceutical Companies Committee of the American-Hellenic Chamber of Commerce was established at 2003, dedicated to the mission of serving the community as a forum for national healthcare issues and a catalyst for healthcare reform. Committee members are willing to use the accumulated knowledge and experience in an ongoing effort to build bridges of cooperation and common understanding among business, political leadership, and all related stakeholders.

The Amcham Pharmaceutical Committee has organized Healthworld Conference for 10 consecutive years, always under the auspices of the Ministry of Health & Social Solidarity. Healthworld is considered the premier conference for the healthcare community in Greece, and it is anticipated with great interest every year from all stakeholders.

Healthcare is among the most vital yet sensitive sectors in Greek society and one that is in need of considerable reform Distinguished representatives from the political, academic, medical, pharmaceutical and business community, health unit leaders, patients associations’ representatives and prominent personalities from major foreign healthcare institutions and associations have participated in the Healthworld Conference as speakers, and delegates, during its ten year course, exploring major healthcare policy issues. This year, the

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Healthworld Conference will be held in September rather than April due to the prolonged preelection period as well as the general unstable external environment.

The Committee faces a number of challenges today. Healthcare is among the most vital yet sensitive sectors in Greek society and one that is in need of considerable reform. One of the key challenges that the government faces is to control costs while at the same time providing access to innovative medicines and health services of high quality to all citizens. The Pharma Committee recognizes the many challenges that the Greek State confronts and has been supportive of efficient reform in a number of areas, especially in streamlining and modernization efforts through technology and improved systems.

The Committee has also been a strong advocate of the need to recognize the rational use of medicine as a wise investment, one that can often prevent far more expensive medical treatment.

In addition, the Committee has advocated for Greece to embrace a strong R&D culture, increased pharmaceutical production, and the conducting of phase I and IIclinical trials, all areas that dramatically improve healthcare in a society and have the added benefit of creating employment and generating healthy revenue streams.

These are especially important in these difficult times when Greece sorely needs to create more jobs, more investment, and more growth.

Pharmaceutical companies in Greece provide thousands of jobs to highly qualified professionals and is a sector that can contribute significantly to the expanded creation of a knowledge economy while, at the same time, performing a key role in society. Τhe Pharmaceutical Committee of the AmericanHellenic Chamber of Commerce is in full readiness to shape workable proposals in support of an efficient healthcare systems and any initiative that will lead us to develop a cooperation mechanism for the betterment of the citizens and the state.

Taxation Committee

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he corporate responsibility of the professional and accountable business unit, to perform in the true sense of an ethical corporate citizen, is considered a top priority, especially within the framework of extraordinary social and economic circumstances.

From this perspective, and in light of the negative effects of the pathogenic peculiarities of the Greek taxation system, this task becomes even more important, taking into consideration that every business decision, action, or omission to act has a direct taxation effect on the present, past, or future performance of the business unit.

As a result, responsible tax management must intensify its deliberate, planned, and sustained efforts, vis-a-vis all emerging taxation challenges, to comply with tax regulations. It must do this to avoid consequences from failing to fulfill obligations, to accept a fair tax burden, and to prevent losses or costs derived from missed tax opportunities.

The current practice of tax management dictates that companies seek real business benefits from legitimately managing, influencing, and leveraging the external tax environment. This is not only for reasons of tax defense (today’s term being “tax compliance”) but, also, and perhaps more importantly, to legitimately address taxation opportunities.

Such practices ought to be conducted in the proper constitutional ethos and within the spirit of a mutual, cooperative partnership with the tax authorities, with the end target to enhance positive communication and foster healthy relations with those authorities.

Facts have proved that the advisory, consultative and intervening role of the Taxation Committee has been successful and effective in assuming the role of a valuable, and valued, ally in this effort, capitalizing on its structure and the strong, collective voice of the Chamber.

Its multifunction character, coupled with a common vision and accountability, and backed by the combined knowledge of its distinguished members, all recognized for their expertise, has provided, in almost ten years, a supplemen-

tary, voluntary and highly effective tax support platform to Chamber members.

Members have expertise in law, accounting, and finance, and the Committee, which has earned recognition from both the business community and State authorities, has produced results on two fronts, following its motto, “to convert taxation into a true business partner.”

It has contributed to the external taxation support of corporations operating in Greece and has offered assistance and know-how to the Greek authorities, in their mandate to design workable taxation policies and affect positive reform and structural improvements to the ailing taxation system.

Though innovative initiatives, interventions based on healthy, influential contacts, participate in Ministerial Law Recommendation Committees, and the hosting of top-flight events such as the Annual Tax Forum, the Taxation Committee has established a successful portfolio of accomplishments.

The recent appointment of Dr. George Mavragannis, a distinguished member of the Taxation Committee, to the crucial position of Deputy Minister of Finance, with responsibility for taxation, has made the members of the Committee proud and promises greater success in Greece’s efforts to restructure its taxation system.

With this appointment, there is a far better opportunity for Greece to proceed with comprehensive, meaningful reform, not blind and fragmentary, but based on reliable diagnostic tools with needed reference to modern and tested precedents of the U.S. and EU countries.

Costas Stavros ECONOMIST

The Committee has provided a supplementary, voluntary and highly effective tax support platform to Chamber members

JULY-AUGUST 2012 | BUSINESS PARTNERS | 27

Thought Leaders

Tourism Committee

G Stylianopoulos Andreas NAVIGATOR TRAVEL & TOURIST SERVICES ltd.

reece has been one of the most popular destinations for Americans travelling to Europe and for several decades the U.S. market was a significant factor in the growth of Greek tourism and the now defunct Greek cruise industry.

Today, despite the fact that Greece (iconic islands, Acropolis, Delphi), still exercises a strong pull on the U.S. market, manifestations stemming from the economic crisis have dangerously eroded the country’s popularity and its image of safety and security. Many Americans are now reluctant to travel to Greece and the country is in real danger of being bundled with problematic Middle East and North African states. The relatively frequent U.S. travel advisories on Athens do not help.

As incoming tourism from the U.S. declines, the cruise industry is also negatively affected; we saw U.S. brands re-deploying a significant fraction of their East Med supply capacity. The Arab spring revolt, the civil war in Syria and Greece’s image problems have affected demand for East Med cruises. However, Greece could play a significant role in reversing this trend.

The most important challenge for the Tourism Committee is to contribute in every way possible toward repairing Greece’s commercial appeal for the U.S. and global market.

Reversing a negative perception involves addressing serious core problems, something that requires synergies and support from local and national associations and the government

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A good place to begin is Athens, now the worst hit Greek destination. Improving its image will have a direct impact on the whole of Greece, not only for tourism, but for the economy in general.

Since at least 50% of a successful economic recovery relies on psychological factors, a barrage of good news from Athens will go a long way.

Reversing a negative perception involves addressing serious core problems, something that requires synergies and support from local and national associations and the government. We have experienced a political reluctance to impose logical barriers on the frequency of city center disruptions. In addition, there has been an inexcusable reluctance to neutralize certain “known” groups that use large-scale demonstrations as cover for their highly destructive rampages. This has created huge problems for tourism (and for all economic activity) and has destroyed the perception of Athens as a safe and welcoming city.

A core tactic for the Committee is to lobby on the need to review Greece’s policy on demonstrations. Another is to inform public opinion.

When, for instance, it became common knowledge that Greece was losing a potential 1.5 billion Euros annually due to cabotage, the tides quickly changed and most everyone backed abolition.

With well-publicized campaigns to demonstrate the economic damage of demonstrations, by providing statistical data, and by projecting the economic benefits from a successful Athens recovery, public opinion will be quick to respond. This will also help the government in its efforts to control civic chaos and improve tourism prospects through this difficult period.

Positive synergies could be developed with the Athens Chamber of Commerce and SETE, for example, as this issue impinges on practically every aspect of business.

We must make every effort to encourage inbound tourism from the U.S., using our networks and connections in a way that will render Greece in an attractive light, and at the same time work to eradicate long-standing, festering problems.

Women in Business Committee

D

espite efforts by organizations around the world to achieve a diverse workforce, most recent international research shows that the majority lack a clearly defined strategy or philosophy to develop women for leadership roles The percentage of women on boards and senior-executive teams remains stuck at around 15 percent in many countries, and just 3 percent of Fortune 500 CEOs are women.

According to a recent international study conducted by Mercer (2011 Women’s Leadership Development ) there are three key factors preventing women for advancing to leadership positions: work-life balance and lack of executive sponsor (tied at 42%) and insufficient breadth of experience (29%). While a similar national study conducted by the Women in Business Committee in 2009 (Women Steering Boards Through High-risk Waters) showed that the three most significant factors that hinder women in Greece from career advancement are: (Again) work-life balance (79%), male stereotyping (58%) and being their own enemy (24%). The last two factors arising from our national survey tie in very well with the recent Mc Kinsey findings ( 2011 Changing Companies’ Minds About Women), concluding that the key frontier keeping women stuck is the invisible barrier of the mind-sets widely held by managers, men and women alike, that are rarely acknowledged but block the way.

Facing these challenges, the Women in Business Committee (WIB) has undertaken, in the five years since its foundation, the mission and the significant commitment to serve as a premier catalyst for the leadership development of professional women in Greece through disseminating learning on international and national best practices. We work with all sectors of the local economy to promote and enhance the development and influence of professional women in the business world and to develop, encourage, and elevate the status and public perception of women in society.

The WIB Committee, though its events and

activities, offers professional women a unique platform to exchange best practices, experiences, and knowledge.

In the last five years we have hosted very successful luncheons and forums with policy makers, thought leaders, women leader role models and interpersonal impact experts, providing vision and practices on how women can best succeed in today’s business environment. Some of our speakers were: Georgette Lalis, European Commission Director, speaking on “Women in the European Commission and Trends in Consumer Products”; Mirella Visser, President, European Professional Women’s Network, speaking on “Women on Boards, Moving Mountains”; Michael Silverstein, BCG’s global consumer practice Partner, presenting his research findings The Rise of Female Economy”; Mary Spillane, international leadership coach, speaking on the “Brand Called YOU!”; Rodi Kratsa, European Parliament member and Vice President, speaking on “Using Women’s Potential a Necessity for Economic Growth in the EU.” Also within our scope is to conduct studies monitoring and evaluating the needs of Greek female executives and focusing on issues that mostly interest and affect their role. Our peer networking events help women integrate and establish new collaborations, and though our LinkedIn Group, women executives can discuss and elaborate their thoughts and opinions, swap business stories and share their concerns.

Kartsanis Georgia CEO CLUBS GREECE

We work with all sectors of the local economy to promote and enhance the development and influence of professional women in the business world

JULY-AUGUST 2012 | BUSINESS PARTNERS | 29

In Profile

Constantinos Constantinidis Managing Director Pelopac SA

Innovation Rooted in Tradition

T

he company develops and produces concepts for leading brands and major retailers’ private labels, primarily in the USA, UK, Australia and Europe.

Pelopac’s product range includes olives, antipasti, spreads, sauces and sweet toppers for the retail, deli and food service sectors.

In addition, the company supplies a line of organic products which are certified under EU and USDA/NOP standards.

The history of Pelopac essentially began in 1983, when Sotiris Kitrilakis launched the Peloponnese® brand as the first line of Greek foods offered in mainstream outlets rather than ethnic stores. From the beginning, the focus has been on developing and producing authentic, high quality Mediterranean foods in original ways.

Pelopac was founded in 1993, to ensure reliable production of Peloponnese® items for the US and European markets. In 2006, the company constructed a state of the art, 5.500 m² facility in the Industrial Area of

The company supplies a line of organic products which are certified under EU and USDA/NOP standards.

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Thessaloniki, which enabled it to increase its capacity and diversify production.

Pelopac’s production and quality assurance systems are certified under ISO 22000 and BRC Global Standard - Food, with Classification: A by TÜV Nord. The company has also completed the Sedex SMETA Audit for Social Responsibility.

Innovation Innovation continues to be at the heart of Pelopac’s business philosophy and overall strategic approach. Over the past few years, the company has introduced over one hundred unique new items and has won awards for taste and innovation, including Gold “Great Taste Awards,” a SIAL Award for Trends & Innovations (for shelf-stable Tzatziki), the HELEXPO Business Innovation Award and the FING Greek Values Award for Export Excellence (2012).

Key capabilities which make Pelopac an effective innovator are: • Access to authentic, high quality, natural ingredients from reliable producers • History of incorporating these ingredients into new product formulations and concepts • Production expertise that preserves the flavor and nutritional advantages of ingredients • Early adoption of new technological developments to food packaging and processing in their product categories Innovation, as a continuous process, is in-

Pelopac is a leading supplier of authentic Mediterranean and Greek food products, based in Thessaloniki. tegrated into all aspects and levels of operation to help achieve growth and maintain a strong competitive position while satisfying the changing needs and demands of clients as well as the end consumer.

More specifically, Pelopac: • Monitors market, product and flavor trends in major markets • Sources new and unique ingredients and raw materials • Keeps up to date on developments in production and packaging technologies • Engages in collaborative idea and concept development with clients, suppliers and other strategic partners • Works with clients and partners to test market interest and potential prior to product launch

A Collaborative Approach A company’s ability to successfully develop and execute an innovation strategy is largely a factor of its people, processes and culture, and a corporate culture which encourages experimentation, collaboration and open lines of communication at all levels is essential for cultivating innovation. Pelopac has built a strong, cross-functional team which draws on expertise from all areas of activity – including sourcing, production, sales and customer service – and works closely with clients and suppliers to develop product and technology concepts.

As a result, many of Pelopac’s best-selling products and innovations in technology and packaging have come out of joint projects with strategic partners, including the first global application of X-ray imaging for sorting and detecting pits in pitted Kalamata olives, the groundbreaking use of Modified Atmosphere Pack in bags for food-service olives and the development of an awardwinning, shelf-stable tzatziki.

In Profile

A Starbucks Cup of Coffee Can Make a Difference

I

n Greece, Starbucks celebrated the opening of its first store in September 2002, with the first store at Korai Street.

Greece, a country with a strong coffee tradition, welcomed Starbucks with enthusiasm and within a period of 10 years Starbucks is offering the finest coffee to more and more customers in Athens, Salonica, Patras, Mykonos, Corfu, Rhodes, Chania and Heraklion of Crete. In Greece, Starbucks is represented by Marinopoulos Bros S.A., one of Greece’s leading retail, commercial and industrial groups.

In Starbucks you can choose among a variety of products and enjoy espresso beverages of the highest quality, since only 3% of the global production of Arabica beans meets the high standards that Starbucks coffee experts have set. But it is not only the finest coffee that makes Starbucks the most favorite coffee of millions of people around the world—it’s also the trained and experienced Starbucks partners who build a personal relationship with each of Starbucks customers, first rate music and a comfortable and upbeat meeting place, that make many people talk about a unique coffee experience. But it is more than that.

Fairtrade Collaboration Starbucks is collaborating with Fairtrade Organization for more than 10 years, being the leading Fairtrade coffee buyer in the world and offering 100% Fairtrade certified espresso in all espresso based beverages.

Fairtrade certification secures improved working conditions, local sustainability, fair trade regulations and better prices for smallscaled coffee farmers, in order to be competitive against the international market.

This collaboration is part of Starbucks™ Shared Planet™; our commitment to doing business in ways that are good to each other and the planet. From the way we buy our coffee, to minimizing our environmental footprint, to being involved in local communities. It’s doing things the way we always have. And it’s using our size for good. Through this program, we can purchase and offer high quality coffee, which is responsibly grown and ethically traded, creating this way, a better future for coffee farmers and more stable climate conditions

Starbucks Coffee Company, founded in 1971, is the leading retailer, roaster and brand of specialty coffee in the world, with more than 17,000 retail locations in 56 countries in North America, Latin America, Europe, Africa, the Middle East and the Pacific Rim.

for the planet. And we have set specific goals in that direction: • Ensure 100% of our coffee is ethically sourced by 2015. 86% of our coffee was ethically sourced under C.A.F.E. Practices in 2011, up from 84% in 2010.

• Invest in farmers and their communities by increasing farmer loans to $20 million by 2015. We made nearly $14.7 million in loan commitments to our current loan partners in 2011 while exploring innovative and new opportunities.

• Improve farmers’ access to carbon markets, helping them generate additional income while protecting the environment.

We continued to learn from our pilot in Indonesia and have seen significant improvements with the program’s implementation in Mexico.

We have always believed in offering not only the best coffee in the world, but also coffee for a better world. We’re committed to being a good neighbor and a catalyst for change by bringing together our partners, our customers and their communities and by volunteering to local events and national programs. So when you come to Starbucks for your Double Tall Caffe Latte or your perfect Doubleshot, you make it possible for Starbucks to do more for your community and also do big things on a global scale. You and Starbucks. It’s bigger than coffee.�

JULY-AUGUST 2012 | BUSINESS PARTNERS | 31

ViewPoint

Junior Achievement—

GRINN S.A,. THE WINNING TEAM

J

unior Achievement Greece held its “Best Virtual Enterprise 2012” competiton awards day at the premises of Athens Information Technology on June 21. The competition is the culmination of the JA entrepreneurship program held throughout the school year. Young students from different schools throughout Greece create “companies” and develop products or services for the market. Under the guidance of a mentor as well as teacher/advisor, the teams learn the basics of creating and running a business, complete with CEO, Marketing Director, CFO and the like.

The companies showcased their products at the awards ceremony, each with a booth, marketing material, and product demonstrations. The student companies developed a range of products, from publications—two magazines and one book related to the Parthenon Marbles—to solar chargers, heater/ coolers, e-commerce sites, and others.

GRINN S.A., a company that developed an eco-friendly solar charger for mobile phones and small gadgets, which operates without a lithium battery, won first prize. The student executives hail from the I.M.Panayiotopoulou School.

“Best Virtual Enterprise 2012”

The second prize was awarded to a student team from the Professional School of Kalloni in Lesvos, which impressed the judges with its virtual enterprise “KalloniAgroCom,” a business dealing with the sale of local agricultural products at competitive prices through online auction.

Third prize resulted in a tie between MUSTERPEACE by students of the A Lyceum Arsakeio of Psychico, who publish the innovative bilingual (Greek-English) youth magazine MUST, written by young people for young people, and the “SmartPack Co.” by students of the College of Psychico, who developed an innovative food and beverage

cooler/warmer, ideal for outdoor excursions.

The President of SEN / JA Greece, Christos Tsangos, said: “The business ideas of students who worked hard and consistently throughout the school year were full of originality, creative talent, and imagination. The students managed to impress us once again with their inventiveness, their commitment to a common goal and they deserve great praise.”

The winners will represent Greece at panEuropean “Best Virtual Enterprise 2012” competition, organized by Junior Achievement Europe and JA Romania (JA - YE Europe) on July 19-22, 2012 in Bucharest.�

Junior Achievement Junior Achievement is the world’s largest organization dedicated to educating students about workforce readiness, entrepreneurship and financial literacy through experiential, hands-on programs.

Junior Achievement programs help prepare young people for the real world by showing them how to generate wealth and effectively manage it, how to create jobs which make their communities more robust, and how to apply entrepreneurial thinking to the workplace. Students put these lessons into action and learn the value of contributing to their communities.  http://www.sen.org.gr/ (in Greek)

The American-Hellenic Chamber of Commerce

BUSINESS

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To become a member of the American-Hellenic Chamber of Commerce, one of Greece’s most preeminent and proactive business organizations, apply on the Chamber website at www.amcham.gr, send an e-mail to info@amcham.gr, call the Chamber at 210-699-3559, or fax the Chamber at 210-698-5687-7 and request an application form.

To subscribe to Business Partners, send an e-mail to info@amcham.gr, call the Chamber at 210-699-3559, or fax the Chamber at 210-698-5687-7.

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