27/07/2016
Asharqia Chamber issues the 16 edition of the «familial» bulletin
Newly released from Asharqia Chamber represented by media adminstration, No. 16 of the bulletin
«familial», which is concerned with issues of family businesses locally,
regionally and internationally.
It
included several issues about the importance of turning family businesses into stocks
companies, to contribute to the preservation of the family values and plant
them at work, and governance to enhance honesty as a factor for
the consolidation of stability, in addition to institutionalize companies.
In
this copy it focused on the motivations of the work of family businesses growth
factors, so by providing a brief summary of the ten basic steps that will
preserve the sustainability of family businesses through successive
generations.
And
also on covering and a reviewing the
highlights of the events and decisions that belong to local family businesses, by shedding light on the decision of the Saudi Capital
Market Authority of the compulsory of
revealing ownership of the members of
the boards of director , chief executive officer s and shareholders during the time
of the ban , which enhances transparency in the stock market and helps the
general shareholders to make investment
decisions thoroughly.
Therefor,
the bulletin has provided two examples
of two pioneer experiments of family businesses, which were able to continue
and even grow with the succession of generations, the first embodied in a local
company, are the sons of Abdullah bin Abdul Mohsin Al Khothari Group, which referred the sustainability of the business to
increase education doses for sons, and the chief executive officer Fawaz Al Khothari considered that
the future of the family business remains a mystery until it looks at the sustainability factors.
The
second experiment also confirmed that education played a major role
in business continuity through the generations, Turkish(Cook Holdings) company, which has been
able to face the challenges of the transition between generations education and
career progression for family members, as well as international expansion by following
an effective governance model.
Also at the last page it presented a photographed summary of four challenges
facing family businesses in the gulf to achieve a smooth transition to the
second generation, and celebrated the arrival of governance train to Kuwait Stocks after more than six
years waiting
