FAMILY BUSINESS AND INTER-GENERATIONAL SUCCESSION
The concept of Family-Owned Businesses has evolved over a long time. Generally accepted as a legal entity operating in an economic sector and outliving at least two generations, Family-Owned Businesses have flourished in many developed and developing economies of the world. In places such as the United States of America, Italy and India, these businesses have played significant role in the socio-economic development of the countries. From current trends, they remain largely relevant for the future.
Yet, like every other business concern, Family-Owned Businesses have had to contend with certain peculiar and natural challenges which tend to erode the gains of the work and efforts of the founders and threaten, in some instances, to make the business extinct.
Given the undeniable role that Family-Owned Businesses continue to play in global economy, it has become pertinent to take more than a cursory look at this all-important business feature in Nigeria. For a country where entrepreneurship is the fastest rising sector, the prospects and drawbacks of Family-Owned Businesses require wholesome attention.
In view of this, the Rome Business School, in partnership with the Centre for Values in Leadership [CVL], is organising a forum for founders and top executives of Family-Owned Businesses in Nigeria on December 8, 2016.
The forum is aimed at:
- Analysing the issues of entrepreneurial development and management of Family-Owned Businesses in Nigeria.
- Establishing and entrenching family business culture among Nigerians stating its inherent benefits.
- Inputting attractive templates for Generation Next to warm up to, and accept, Family-Owned Businesses – corporate governance, management by principles, sustainable growth, succession planning, conflict resolution, etc
- Exposing participants to refreshing and updated managerial skills for sustainable entrepreneurship within the family circle and its impartation to the next generation.
- Promoting a cross-cultural communication and diverse management culture between Nigerians and other countries – in essence appraising the positive impact of family businesses in other countries.
- Formulate an effective framework that will help them address conflicts and identify specific challenges associated with family-owned businesses.
- Participants will develop strategies that will help them start, run and grow a family business with international networks that lead to high-performance companies, loyal shareholders, and healthy families.
- Will get business solution packages that will enhance the sustainability of their businesses to the next generations
- Family Business Internships: The Next Gen Group is the network of young people from associate business families.
- Membership to Association of Family Business Owners of Nigeria.
- Networking at Global Summit on Family Owned Business: UAE, USA, India, Italy, etc.
- Discounts on further Executive Educations on Family Owned Business managements in Italy and Nigeria.
- Family Business Network Exchange: FBN Xchange is a secure, international, on-line community where family businesses across the world come together to connect, exchange and learn.
To be announced…