In family businesses, love and legacy often sit side by side at the dinner table, and sometimes, so do conflict and chaos. At a recent workshop titled “Build a Killer Business Without Killing Your Family”, part of the MENA Family Business Research Conference, Stephen Shortt, CEO of CareerFit and Talent Select, opened with a story […]
Family businesses are a driving force of many economies around the world. Some of these businesses have a rich, multi-generational legacy that comes with their names. However, the histories of family businesses is a topic left largely unexplored by both academic circles and business communities, which is why the collaboration between Tharawat Family Business Forum,
“Once you leave the office, you disconnect so you don’t bring business to home. We’ve learned to separate between work and family life when we sit together as family every week,” says Mohamed El Nasharty, export manager of Al Manar Group, a well-endowed family-run business that has worked in the manufacturing and bottling of automotive
Of all models of business organizations, family businesses remain an emblematic example, insofar that their sustainability is unguaranteed. Business history is full of abundant epic stories of the rise and fall of many successful businesses that had been founded by family members. From internal conflicts, clash of egos, hidden agendas to centralized and/or hierarchal management
On my way to an industrial area in Western Germany namely Munich, I had this conversation with the managing director of an old German company founded in 1921. He had been appointed to this job subsequent to the acquisition of a private equity firm to an old adhesive company which was once a family business.
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Family businesses constitute 80 percent of the private sector turnover in Egypt; hence, having lasting family-owned businesses is of fundamental importance to the economy. Whether it is the third or fourth generation that is slated to take the reins, a well-defined succession plan must be put in place to keep the business afloat. With all
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During the first meeting of the Family Business Consortium in the Arab Region at the American University in Cairo (AUC) School of Business, a number of family business executives and leaders came together to discuss the main challenges they face. In the first part of this series, Business Forward looked at the DNA of family
Business Forward celebrated its first anniversary on December 3 under the umbrella theme of The DNA of Egypt’s real economy: A look forward. During the event, managing director of PICO Group Hatem El Ezzawy discussed the role of the family-owned business in spurring the economy forward and the critical need for them to undergo restructuring
Family businesses are seemingly very traditional and static. However, several family businesses today are looking at new strategies and how to pump fresh blood into the business. In partnership with Endeavor Egypt, Business Forward speaks to the CEO of Baraka retail group Ahmed Ragab to know more about the challenges that usually face a family business
