(MENAFN- Gulf Times) HEC Paris, recognising the dominance of family-owned businesses (FOB) and their key contribution to economies across the Gulf Co-operation Council (GCC) region, is offering bespoke executive management programmes that are individually tailored for each company.
These "globally acclaimed custom programmes" are designed to meet the specific needs of each client and aimed at key decision-makers - from the board level to middle management, according to a statement.
While meeting the needs and requirements of FOBs in the region, the custom-designed executive management programmes strike a "delicate balance" between preserving deep-rooted family values and traditions and contemporary models of management, innovation and market dynamics, the statement notes.
"Because of their active participation in a wide range of business sectors, it is imperative that the owners and management of FOBs are equipped with the latest knowledge and skills to enable them to face the challenges and issues that are unique to their businesses," said Raja Assili, chief operating officer of HEC Paris in Qatar, who has worked in GCC-based FOBs for 20 years.
Prof Laoucine Kerbache, dean and CEO of HEC Paris in Qatar, highlighted the role HEC Paris can play towards that end. "As a result of our geographical presence in the GCC region for over five years, we have a wealth of international and regional knowledge and experience to create distinct programmes for FOBs," Prof Kerbache said.
According to Prof Serge Besanger, head of Family Business Programmes at HEC Paris, the continued success of FOBs in the GCC can be attributed to several factors. Among them are the involvement of family members to protect the FOBs' reputation and survival, their long-term view on performance and a cautious approach to debt and finance. In addition, he also cited their ability to instil loyalty among employees, strict controls on operating and capital expenditures and expanding international operations.
However, he cautioned that FOBs in the GCC are also faced with a growing array of threats, which could affect their resilience and preparedness for future generations. "Today's family-owned businesses in the GCC need to be alert and address certain issues in order to meet the family's short- and long-term objectives," Prof Besanger said. "Our programmes are, therefore, designed to provide FOBs with the essential tools that will allow them to implement sustainable solutions to these issues."
HEC Paris, ranked number two worldwide in Executive Education by the Financial Times in 2015 and a member of Qatar Foundation.
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