Under the patronage of the Minister of Trade and
Investment and through four consecutive sessions.
Al
Atishan: The Forum is an awareness message directed by the Chamber to all
owners of family businesses in order to rethink about their busiess towards governance and transformation.
Al
Wabel: The importance of introducing business governance in the family business
for its positive results if applied well.
Asharqia Chamber launches the Governance Forum 2017, organized by the Chamber for a full day, under the patronage of the Minister of Trade and
Investment, Dr. Majid Bin Abdullah Al Qasabi, in cooperation with INSEAD
Business School. The
Board of Directors, and is attended by a group of international and local
experts in the field of family business consultancy, during which many serious
treatments will be presented regarding the challenges and problems that disturb
business continuity of all kinds.
The
Chairman of the Board of Directors of Asharqia
Chamber, Abdulrahman bin Saleh Al Ataishan said that the forum is attended by a
group of experts in the fields of governance and transformation into a public
contribution, which are scheduled to present many relevant papers on
institutional procedures in family businesses. "This
is an awareness message from Asharqia Chamber
to every family business owner to switch their business towards governance and
transformation," he said, adding that governance is an essential element
in achieving a safe transition. For
family businesses, which he says occupies a large portion in the national
economy and is an attractive channel for
investments and the nationalization of national labor.
Flexible and interactive
In
the opening or first session, the concept of governance and its role in
activating the board of directors is addressed in an attempt to emphasize the
role of governance in reframing the board in a more flexible and interactive
manner. He pointed that the forum program was divided into four consecutive
sessions. The
meeting will be attended by Professor Ludo van der Heyden, head of the INSEAD Global Governance
Initiative, and Frank Dangered, a director for INSEAD Governance Initiative.
The
second session, chaired by Frank Dangered, will be attended by Essam Al Muhaideb,
Vicar of Strategic Investments at Al Muhaideb Group, Walid Al Banawi, Founder
and Chairman of Bridge Partners, and Majid Basta, Ambassador of INSEAD to Egypt
and the UAE. Al
Atishan said that they will research and
discuss the family business governance
in the Middle East, the extent to which family business has taken place with
regard to thef governance applications within its institutional systems, and
then presenting experiences to companies that have been able to implement
governance procedures and take the transition paths within the region.
Attract talent
At
the third session, participants will discuss the topics of succession planning
and the attraction of talent and experience in family businesses. Al Atishan
discusses the importance of future planning of family succession in the
management of the company, which will reduce the emergence of leadership
conflict between generations Which
is reflected positively on the sustainability of business and reduce the
possibility of collapse after the end of the founding generation, as well as
the subject of attracting expertise in the management of family business, as it
supports the expansion and growth of business and at the same time stimulates
the culture of creativity and approaching the professional form In the management process.
The
meeting will be headed by Khalid Al
Zamil, CEO of Zamil Group and Professor Deir Hayden, and chaired by Mr. Ibrahim
Baashen, Partner and Director of KPMG in Jeddah.
The
fourth and final meeting will discuss the balance of power in the Board of
Directors and will be chaired by Dr. Ibrahim Al Murtif, Head of the Bir Al Khair
Center for Strategic Studies. The meeting will be attended by Essam Al Muhaideb,
Ali Al Othaim, Board Member of the Riyadh Chamber and Frank Danjerd. The
balance of power on the boards of directors is one of the most important
factors that preserve the vitality and cohesion of family institutions in the face of the challenges
that may delay the growth, noting that the family company with a balanced and
div
erse Council always Leads
to making the right decisions and strengthens the solidarity and cohesion of
the company.
Take the transition paths
Asharqia
Chamber Secretary, Abdulrahman bin Abdullah Al Wabel, said that this event,
which is titled "Secrets of the Board Success", falls within the framework
of the oriental chamber to support and educate family business owners about the importance of adopting governance
procedures and transformation paths to public participation in companies, and the
second is that it is the goal of the Saudi economic sector, pointing to the
activities, programs and events by the
Chamber, hence he grew up Family
Advisory Services, in which the Chamber has taken positive steps in support and
support of family businesses; offering free consultation sessions throughout
the year to family members of the family, of the mechanisms to overcome the challenges
of safe transformation and governance in family businesses, In
collaboration with local and international think tanks and research centers.
Al
Wabel pointed that the positive changes in the national economy, with the aim
of diversifying sources of national income and partnership with the private
sector, is necessary for family businesses who wish to their business will last.
Al Wabel pointed that positive changes in the national economy, with
diversifying sources of national income and partnership with the private
sector, requiring family businesses to sustain their business to reevaluate their policies according to the
governance and transformation systems. In
addition to being able to absorb as much as possible of the national
employment, the National Bank also plays a major role in consolidating social
responsibility in society, as well as in enhancing trade relations between countries.
Ten experts and more
Al
Wabbal explained that the forum will be reviewed through 10 experts and more in
the field of governance and transformation of family business, the issues and
challenges facing the achievement of sustainability goals, focusing on a number
of topics that are considered as
obstacles to family businesses because of the positive results if applied well,
indicating that the forum comes to educate family business owners and all
owners of companies of all kinds of the importance of the introduction of
governance in their institutions.
