Fees per participant: US$650 to cover tuition, training materials, snacks and lunch only.
COURSE OVERVIEW
About 75% of the businesses in the world are family owned. Indeed, any individual household is always desirous of establishing a family business. However, few of these live beyond the first generation. As founder member advance in their age, their entrepreneurial energy moves in the reverse direction, and in their sunset years they are faced with a number of dilemmas. Such dilemmas include deciding on which sibling to pass the family owned business management to, how to manage growth of the business and how to sustain the interest in the business within close family members, or even to pass on the management of the business to professional and independent non -family members. Squabbles in family owned businesses are witnessed in many instances in Kenya. What should entrepreneurs in family owned businesses do to avoid these challenges? This course aims to address these issues.
WHO SHOULD ATTEND
This course is designed for business founders, successors, family members working in the family owned business, family shareholders and CEOs of the business. A team of at least two members of the same family business is recommended. A team with more than two members will learn more together and be able to implement action plans more effectively and efficiently.
HOW PARTICIPANTS WILL BENEFIT
By attending this course, participants will gain knowledge and skills to improve the overall
management and success of family businesses in a dynamic environment. This course will help family businesses to identify the specific challenges, develop workable strategies to accomplish their visions, resolve existing conflicts and those that might arise as business grows and build plans for the family’s future.
TOPICS INCLUDE
★ Managing conflict among family members e.g. sibling rivalry
★ Communication challenges;
★ Strategic/Business planning;
★ Types of Partnerships;
★ Succession planning;
★ Managing growth challenges;
★ Financing of family owned business;
★ Creating an entrepreneurial culture in a family owned business;
★ Governance structure.