01/02/2015
Eastern Chamber issued the tenth issue of the Bulletin
"Family": a family business 70% contributed to the economic boom in the Gulf States
Specialistssaidthatthere are socialandhumanitarianroles ofseveralcontributing to thecontinuity offamily businessescomesthe most prominentendowmentsallocated bybusiness familiesa portion oftheir wealthorearningsorassets.
This came duringa privatecoverageprovided by"family"bulletinissued by theEastChamber, represented by themediain the new issue, which-ax-specializedeventson the impact ofAwqafin increasingthe profits ofthe family business, in whichparticipateda number ofbusinessmenandprofessionalsprominentin the regionand the kingdom,where thePresident of the Dammam Courtsaid, Sheikh Saadbin MohammedAl-Muhannaduring a workshopentitled (the sustainability offamily businessesandendowments)thatservedEndowmentsdifferent sectors, referring tomany modelsofthe most prominentcountries in the world.
The circular alsoprovideddistinctivecoverageon the occasionentitled (philosophyandgrowth strategiesin thefamily business) provided by thespecialist, Dr. Samibin AbdullahAl Wahaibiwho stressedthe need for aspecialphilosophyatthe family business,determinewhichoptionsto grow,andto answerallquestionswith "growth andpriceand scopeand size, "addingthat"conditions"the only way tosuccess, saying:"if it is tocontinue to growand developits activitiesand the continuation oftheir work. "
Wahaibiaddedin front ofa largeaudience ofbusinessmenin the province ofQatifand those interested infamily businesses areexperiencingan overlapbetween socialentity, "Family",andentity-profit"companyand investment",pointing out that thisoverlapgivesstrengthtothe "Company",by having aclear vision anda continuousthroughfamilygenerations,which showmostlywilling to supportthat visionat the lowest cost,and sacrificefor it, the companyhas the supportoffamilymembersandfundsfor growth andcompetition.
The circular alsoprovidedin thepages ofreadingtoguidethe governance offamily businessesand familycharterpilotissued by the Ministryof Commerce and Industryrecently,andconsistsevidenceoftwo main sections,the first sectionof themis intended to providea guide tothe governance ofthe family business, and includesten majoritems includethe concept ofbusinessgovernance,and the concept offamily businesses,andforms offamily businesses,and thefactorsinfluencingtheriskinfamily businesses,andrestructuring andgovernance offamily businesses,the separation ofownershipfrom management,the formulation ofthe Charter of thefamily business,andthe contents ofthe Charter of thefamily business,and the transfer ofshares andexit fromthe family business,and the interpretation ofthe chartersof family businesses, modify, andthe settlement of disputesarisingabout it.
Specializeddealt withpages in thenewsletterthe most importantfamily businessesand achievementsin the world afterits transformationasreviewedSABISwhich is considered oneof the mostspecializedin the establishmentof an internationaleducationschools,companies,andis applied"Sabs"systemineducation andcurriculumto50 schoolsin 15 countriescomprising65,000students.The Company hasannual revenuesin excess of$ 50million,about 5,500employees in the"Sabs"schoolsin the United States, Germany, UnitedKingdomand the Middle East, North Africa andAsia.Sabscompanyownseightshareholders,is also engagedin themanagementcurrentlythird, fourth andfifth generation,which makes ita modelworth studyingfamilycompanyhas been ableto stayfor up to128years.As well as otherspecialreports on theKuwaitforumfor family businessesandalsoa forumin DubaiGCCfamily businesses.
