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 panel 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.

Speakers:

• Noura Alturki – Vice President, Nesma
• Hanoof Abokhodair – Managing Partner, The Business Family House
• Karin May – BFH Affiliate Partner, The Business Family House

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

Session Structure:

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

40 mins: Fireside chat

10 mins – Q&A