Defining Roles in Family Firms

Background:

Family business governance is a system that helps family businesses achieve long-term success and ease succession. It includes rules, policies, and procedures that govern the way a family business is run. Good governance can help to protect the family’s assets, promote transparency and accountability, avoid conflicts of interest, facilitate communication and decision-making, and ensure the smooth succession of leadership. Through the development of strong governance, family businesses can increase their chances of success for generations to come. Defining roles in a family business is key to its success. When roles and responsibilities are clearly defined, it helps to prevent confusion, conflict, and inefficiency. It also creates a sense of accountability and promotes fairness. This can lead to a more positive and productive work environment.

Session Date & Time : 15 August 2023, 4 PM KSA / 5 PM UAE (session date and time subject to change)

Session Description:

This fireside chat will provide an overview of family business governance through the lens of the importance of defining roles within the family business context. The conversation will be led by a panel of family business leaders who will share their experiences and insights on how to create a successful family business that is primed for longevity.

Session Presented in: Arabic

Key Learning Outcomes:

• Participants will learn about the importance of governance in the family business context.
• Participants will learn about the different roles that family members and non-family employees play in a family business, and the different systems that govern the selection and participation of the individuals in those roles.
• Participants will learn how to create a system of governance that ensures that everyone is working towards the same goals.
• Participants will learn about how to select and prepare successors for the family business

Session Structure:

10 mins: Introduction of Pearl Initiative, session and session speakers and organizations

40 mins: Fireside chat

10 mins – Q&A