"Family" bulletin: The Coronavirus pandemic is a new challenge facing family businesses

The Asharqia Chamber's website has recently issued the thirty-second issue of the “Family” bulletin, which the chamber launches periodically, represented by the Media Department, in order to shed light on the family business sector at home and abroad.

The bulletin dealt with a range of issues related to governance and the transformation of family businesses into a shareholding, by shedding light on the family business at home and abroad.

The bulletin referred to the factors that can be used to strengthen family businesses in the face of risks. In recent times, the types of risks and crises that family businesses are exposed to, whether internal or external, have varied, and they have become unusual or usual, from crises related to succession and succession, strategic planning, pursuing rapid technological developments in the world, and other natural risks, such as those caused by the Corona pandemic It is also caused by the fluctuations and fluctuations of the global economy from time to time.

The new issue contained a set of diverse topics on family businesses and ways to preserve their sustainability, by presenting realistic experiences of family companies that were able to preserve the sustainability of their business across generations, such as the experience of the Wadi Group, a Lebanese company that works in the agricultural business industry, and has a heritage and experience. Great, which allowed it to expand throughout the Middle East and North Africa region, and the group had brought about a positive change in the business in which it operates, by relying on a set of values, on the basis of which it is based, such as change, leadership, pursuing growth, learning, and the constant pursuit of excellence and integrity through transparent communication. And build trust in an ethical way.​

​The pages of the newsletter included exclusive coverage of the meeting organized by the Asharqia Chamber, via video call, in late June 2020 AD, with the Chairman of the Board of Directors of the Tamimi Group of Companies, Tariq Bin Ali Al-Tamimi, who stressed the importance of attracting family businesses that reach the third generation to other partners. Or entering the stock market, as well as diversity in activities, increased interest in the human element, and the tendency to volunteer work, and indicated that administrative success lies in the ability to deepen employee loyalty to the facility, and commercial franchise brings added value if the agent is the actual manager of the project.​

The bulletin contained coverage of the most prominent events and events related to governance procedures and family business interactions, by highlighting several reports on family businesses, and the best ways to safely cross them from the Corona pandemic crisis.​​