Workshop

EMBRACE THE LEGACY, SHAPE THE FUTURE” - JOIN US IN A JOURNEY OF TRANSFORMATION, GROWTH, AND ENDURING SUCCESS.

MBSC Observatory for Entrepreneurship, Sustainable Innovation & Family Business

#FamilyBusiness2024 #NextGenLeaders #LegacyInnovation

Family Businesses are considered as the oldest “companies” organization form. FB has shaped the contemporary economy and business history. They make numerous, critical contributions to the economy and to family well-being both in terms of money income and such intangibles as time, flexibility, control, and personal expertise - if they work. When they don't, family businesses can be difficult to manage, painful experiences at best. The path to success for any business can follow many routes. Family businesses add the complexities of family life to business challenges, expanding the range of issues, personalities, needs and potential solutions for every decision. Knowing something about family types, communication patterns, managerial styles and the amount of support members can expect from their families may be as important to beginning entrepreneurs as knowing how to reach a market or managing cash flow.

Dive into the dynamic world of family businesses with a prestigious gathering of industry leaders, innovators, and pioneers. Organized by the renowned Mohammed Bin Salman College for Business and Entrepreneurship (MBSC) and the MBSC Family Business institute in partnership with The National Center for Family Business (NCFB), the STEP Project Global Consortium and The Business Family House (BFH), this exclusive two-day event promises to be a melting pot of ideas, strategies, and visionary thinking.

April 18, 2024 - Pre-Event Activities

April 19, 2024 - Main Event Day

• Discussion: The Next Generation: Family Business or Business family? Governance and Management Succession

- Summary: Key takeaways and insights from the day and presentation of The MBSC Observatory for Entrepreneurship, Family Business & Sustainable Innovation, The MBSC Family Business Institute and FB Club

MBSC

Prince Mohammed Bin Salman College (MBSC) of Business & Entrepreneurship is a new private, higher education institution for both men and women. It has been established through an international partnership between Emaar The Economic City, Babson Global (a wholly-owned subsidiary of Babson College, USA), and Lockheed Martin under the umbrella of the Economic Offset Program in the Kingdom of Saudi Arabia. The college is also supported by its partnership with the Prince Mohammed bin Salman bin Abdulaziz Foundation (MiSK). MBSC adopts Babson College’s unique approach to entrepreneurial education which does not rely on passively listening to classroom lectures but focuses on hands-on experiential learning that is practical and pragmatic. The curriculum uses a set of signature experiential courses that will require students to apply their learning to real world problems or start new social or business ventures. This type of project-based learning will be supplemented by a network of mentors and advisors. Development of individuals will continue outside class through an intentionally created set of co-curricular experiences that will reinforce and build the entrepreneurial leadership skills of students. MBSC has a culture that reflects the best of academic traditions in all world class institutions of higher learning whose hallmarks include respect for diverse viewpoints, professionalism, integrity, and a constant commitment to excellence both in and out of the classroom.

The MBSC Family Business Institute aims to bring together actors from business and education domains to discuss contemporary economic, social and environmental issues. It is based on collective expertise to solve business problems and support effective-sustainable decision making. The Family Business Institute is committed to making a durable impact, through shared knowledge, evidence-based strategies, and innovative solutions, by creating value for family businesses.

STEP Project Global Consortium

STEP (Successful Transgenerational. Entrepreneurship Practices) is a global professional body, with more than 21,000 members comprising lawyers, accountants, trustees, and other practitioners that help families plan for their futures. Their mission is to inspire confidence in families planning their assets across generations by setting and upholding high professional standards, informing public policy, promoting education, and connecting practitioners globally to share knowledge and best practice.

The Business Family House (BFH) have spent many years working in the family business field in the region, conducting research, supporting families manage their generational transition and develop effective structures, as well as working with government agencies to understand the challenges facing family-owned businesses and help develop policies to manage them. With larger families and more complex family structures, the vast majority are undergoing the critical transition from the second to the third generations and have limited available expertise to support in navigating their challenges. The Business Family House, a dedicated boutique advisory firm focused on providing world class expertise and custom services for business families in the region, to play their part in enabling business families build capacity and achieve continuity as well as ensure sustainability and growth for our communities. 

The National Center for Family Business (NCFB) was established under the Royal Decree in 2012, as a joint initiative by the Ministry of Commerce and the Federation of Saudi Chambers. NCFB has been working on achieving its mission through providing services and communicating effectively with family businesses, government organizations, consulting firms, and the public to build an ecosystem that reinforces the sustainability of family businesses.