20/03/2017
In an attempt to explain the roles of councils of directors in the sustainability of
the family business, Asharqia Chamber holds
on April 19 next, in cooperation with INSEAD Business School, the governance of
the family business Forum, titled (the secrets of the success of the administration council), so in order to
strengthen the economic role of the family in the Kingdom for companies especially
with the radical changes that the Saudi economic is witnessing since the launch of vision 2030.
The right decisions.
The
head of the Council of Asharqia Chamber
of Commerce, Abdul Rahman bin Saleh Al Ataishan, considered that the forum this year will shed light on
the boards of directors in family businesses and more factors that preserve the
vitality and in front of family
businesses of the challenges that might stop
its growth, pointing to the importance of the board of directors in the
sustainability of the family business, noting that the family business with the
a balanced and varied council is always makes the right decisions.
Ataishan
pointed that the forum will discuss the six topics and more discussing several issues in the framework of
governance of the family business, and comes on top of issues related to
management boards in family businesses, such as: decision making, diversity and
balance between members of the Governing Council, and discussing the effect of planning and attracting expertise in
sustainable business family,
as well as a review of the challenges facing the family in the Middle East
companies.
Bravery and not hesitating
Ataishan
explained that the forum of governance in family businesses, is part of the
chamber priorities in educating owners of family businesses everything possible
to maintain the continuity of their business types, pointing to the wide area
occupied by the family in the national economy companies with investments by
more than 12% of production gross, and
there are ambitious expectations in light of the national will that will activate
economic diversification system and not rely on oil as the main source of the national income, that the
private sector position in general and family companies in particular to achieve more in the national economy.
Al
Ataishan said that bravery and not hesitating in taking good governance
procedures, realizing many future benefits for family business especially in
terms of continuity and permanence of brand name and the activity of the
company with the increase in the actual market value, stressing that the
balance of power within the boards of directors and attract expertise and good
selection of financial consultants and
other factors
consistent with good governance procedures, it is essential in the
transformation of the family business progress,
stressing the importance of approving the
rules of governance as an administrative
concept that improves the institution and achieves the desired integrity and
continuity.
