Conference Report
Continuum 2013
FAMILY BUSINESS CONFERENCE Family Unity – Paving the Way to Business Success
Organised by
Sponsored by
In Collaboration with
Welcome... Dear Friends, It is our great pleasure to present the official report of the 2013 Continuum Family Business Conference in London. As a boutique conference, Continuum’s vision is to facilitate an inter-cultural, inter-generational dialogue between business-owning families and focus on sustainability and innovation. Established by the Tharawat Family Business Forum in 2011, we are delighted that Continuum is becoming a hub for international business families to meet and exchange. The program included highlights such as a a behind the scenes visit to Wembley Stadium, a negotiation skills training workshop for the next generation, and an agenda featuring family business speakers from all over the world,. The core theme of this year’s conference was family unity. Attendees discussed how and if family unity impacts business performance and what tools can help create more family firm sustainability. Through the great contribution of our valued speakers, who openly shared their experiences and thoughts, the dialogue that ensued was rich and focused on real impact. Concluding the conference, the Business Talks sessions explored the forces that shape our business environment and addressed the question of how family business leaders could use these forces in their favour. We are grateful to all our friends, who attended the conference and for their readiness to partake in this dialogue and we are looking forward to the next steps for the Continuum Family Business Conference. Yours sincerely, Dr. Hischam El Agamy Executive Director Tharawat Family Business Forum
Continuum 2013
Continuum 2013
ABOUT THE CONFERENCE
ABOUT THE CONFERENCE Switzerland Liechtenstein
About Continuum Organised by the Tharawat Family Business Forum, the Continuum Family Business Conference is an annual conference, bringing together leading business families from the Middle East, Africa, Asia, Europe and Latin America. Continuum is a unique opportunity for families to meet, exchange experiences and share visions. Since the first conference in 2011, Continuum’s sole purpose has always been to create an exclusive atmosphere, where family businesses from all regions can gather to discuss family business matters. London as one of the global meeting places has been an ideal host for Continuum, and so the conference continues to strive to become a meeting point and fixed date on the agenda of global business leaders.
Greece
USA
Qatar
Jordan
Colombia Venezuela
Kuwait
UAE
UK France Algeria Egypt Sudan
Oman
KSA Yemen
India
Continuum 2013 welcomed participants from Family Businesses from over 20 countries.
2013 Program Highlights Continuum attendees enjoyed a variety of activities throughout the three days of the conference... • Exclusive backstage tour to Wembley stadium. • NextGen workshop on “The Art of Negotiation” by City University Law School, London. • Seminar on Mediation as a tool for conflict prevention and resolution. • Live sessions with family business leaders from several continents around “Family Unity”. • Interactive sessions and panels on the global economic situation and how family businesses weather the storm. Our Speakers addressed the following topics in their sessions: • The art of negotiation • Family unity as a tool for business stability • Why family governance systems matter • Family businesses withstanding the test of time • Family unity and professionalisation • Mediation - a tool to preserve unity? • Success stories and challenges of family businesses • The realities and dynamics in today’s global economy • Understanding the global power shift • Investing in Africa - The way forward? • Family Business impact in Europe, the US, and Africa - lessons to be learnt
Continuum 2013
Continuum 2013
DAY1
NextGen-Session: The Art of Negotiation One of the leading principles of Continuum is to offer a platform for the next generation of family business leaders to connect and expand their knowledge. The 2013 NextGen Session was attended by family members from the 2nd to 6th generation of business families from around the world.
DAY1
Excursion - Behind the Scenes at Wembley Stadium Since the first Continuum Family Business Conference in 2011 the Continuum Excursion has been an important part of the conference agenda. A special occasion to bond with their fellow conference participants, this year Continuum attendees were allowed a glimpse into the world of professional football with a behind-the-scenes visit of Wembley Stadium.
Being a skilled negotiator is an essential skill for business leaders in general. For young family members who enter the business and want to assert their position in the business, negotiation is a daily task. Learning from expert Mr. Simon Barry, Barrister and Lecturer at the City University London, Law School participants had the opportunity to understand what makes a great negotiator and how they can train their own skills to their advantage.
With a capacity of 90’000 visitors, Wembley is the second largest stadium in Europe and serves as England’s national stadium. Next to hosting some of the world’s most prestigious sporting events, it is also home to large scale concerts and other major events.
Learning Points...
In an exclusive behind the scenes tour, Continuum participants discovered the inner workings of this complex business and get access to areas ouside the public eye. The visit was hosted by Mr. Chester King, 2nd generation family business member and who amongst other functions holds the position of Managing Director of the Sports Sales Group, one of the managing companies at Wembley Stadium.
The best negotiators - Exhibit external calmness; - Are persuasive; - Are good listeners; - Spend time to really understand their adversary’s reasoning; - Aim to find a solution whilst understanding that they may have to compromise to a certain extent.
Continuum 2013
Continuum 2013
DAY2
DAY2
Afternoon Session
Family Unity and Business Sustainability The second day of the conference was dedicated to discussing the relationship between business sustainability and family unity. How have family businesses faced uncertain and challenging times and managed to remain a strong unit? How can families communicate the importance of family unity across generations? Morning Session
The speakers from leading family businesses addressed the following issues
Family Unity – A tool for sustainability? Prof. George Kohlrieser IMD, Switzerland
Family Unity and Professionalisation Mr. Nelson Dao Bancaribe, Venezuela
Family Unity – Withstanding the Test of Time Mr. James Houghton Market Street Trust, USA
Mediation – A tool to preserve Unity Mr. Simon Barry Law School of City University London, UK
Family Unity and Governance Mr. Slim Othmani Rouiba, Algeria
Learning Points
“You need to bring the level of fear [in a family business] to its lowest possible level” Slim Othmani, NCA Rouiba, Algeria “It is hard to maintain a momentum after the family is not bound by business anymore, so we started something that would glue us all together, philanthropy. ” James Houghton, Market Street Trust, USA “There are many types of leaders, some types will keep families united more than others. If the family is not united than success is not possible” Nelson D. Dao, Bancaribe Curazao Bank, Venezuela “The reason why people often resist Mediation is because underneath the surface no one wants be responsible for the compromise that has to happen in order to reach the solution.” Simon Barry, Barrister, City University Law School in London
In the afternoon, a panel was held on the topic of how families can work on strengthening the family unity. The panelists were Mrs. Ana Maria Matallana Boggio Alfagres Group, USA/Colombia
Mr. Imad Sultan WJ Towell Group LLC, Oman
Mr. Mohammed Al Khorayef Al Khorayef Group, KSA “As a mother you want your kids to be the best and happy. You want to transmit this positive energy on to them because if you do not. the kids can easily pick it up and it will have an adverse effect.” Ana Maria Matallana Boggio, Alfagres Group, USA “Mutual respect, listening to the elders and understanding the young is crucial in keeping the family and the business on the right path.” Mohamed Alkhorayef, Alkhorayef Group, KSA “In a family business you need to take things gradually, in order to make sure changes are sustainabile.” Imad Sultan, W.J Towell Group LLC, Oman
Continuum 2013
Continuum 2013
DAY3
DAY3
Business Talks - The Forces Shaping Business The Continuum Business Talks were centred around understanding the new dynamics and emerging realities in the global economy and formulating the impact this can have on family businesses. After an introduction by Dr. Hischam El Agamy, the panelists of the first session spoke about the “New Realities in Europe, the USA and Africa”. The Panelists were: HSH Prince Michael von und zu Liechtenstein Chairman and Founder Industrie-und Finanzkontor and AG Vaduz Liechtenstein
Sultan Alturki CEO Al Nahla Group, KSA David Quint CEO and Executive Director RP&C International and USI Group Holdings, UK
“There is a big pool of talented people in Africa. The problem is not the people, it is the legacy they have inherited.” Sultan Alturki “Family businesses are some of the strongest elements in European economies, today. Sometimes a crisis has a good effect on family business, allowing them to come together and form a stronger bond.” Prince Michael von und zu Liechtenstein “Progress really occurs when we stop being scared and we look at it being right, we had the industrial era, the technological era and now its the connecting era” David Quint
In the second part of the Business Talks Mr. David Arkliss, Board Member of the Education for Employment Foundation shared his thoughts of how to battle unemployment in fast growth regions. He emphasized that companies need to be part of the plan, and that the goal of any plan needs to develop «employable» people. Employability is key, since the battle for productivity is on of the biggest challenges of these economic times. “How do you help the young generation build their talent and inspire them to work or develop their talent for their own family businesses?” Karim Kawar, President of Kawar Group, Jordan In the final session of the Business Talks, Ms. Mina Al Oraibi, Assistant Editor-in-Chief Asharq Alawsat, UK, explained that in todays fast technology transparency and speed, a strong communication system and strategy are vital for effective communication and representation of individual or corporate brands and image. “For family members it is often difficult to step away from being both family and family business member and miscommunication can happen. I believe that they would open up more about their company and be slightly more accessible it might help shed light on how a family business functions and increase stakeholder buy-in.”
Continuum 2013
Continuum 2013
OUR PARTNERS
OUR PARTNERS
The Langham Hotel Ettinger Founded by Gerry Ettinger in 1934, the company is still family owned and run by his elder son, Robert Ettinger. We are one of the few remaining British luxury leather goods companies still manufacturing in the UK and pride ourselves on designing and hand crafting only the finest leather goods. In 1996, in recognition of the work carried out for the Royal Household, Ettinger of London was appointed with a Royal Warrant to HRH the Prince of Wales.
Wembley Stadium With a capacity of 90’000 visitors, Wembley is the second largest stadium in Europe and serves as England’s national stadium. Next to hosting some of the world’s most prestigious sporting events, it is also home to large scale concerts and other major events.
The Langham, London has been delighting guests with enchanting hospitality since opening as Europe’s first ‘Grand Hotel’ in 1865. Following an £80m refurbishment, guests are once more captivated from the moment they step into the dazzling lobby. The Langham has a fine range of rooms and suites, Chuan Spa, a fine dining restaurant, Roux at The Landau, and the Palm Court, home of afternoon tea. Located in the heart of the West End on Regent Street and close to Bond Street, Oxford Street, London’s theatre-land and just 10 minutes from the city, The Langham has one of London’s most enviable addresses. As the location of choice for Continuum 2013, the Langham welcomes the conference in its beautiful conference facilities.
City University London - City Law School The City Law School is one of London’s major law schools and offers an impressive range of academic and professional courses. Located in the very heart of legal London, we are the first law school in London to educate students and practitioners at all stages of legal education.
Tharawat Magazine www.tharawat-magazine.com Tharawat magazine is an international business publication that is dedicated to the best practice of family-owned businesses and entrepreneurship. It is one out of three publications worldwide in this knowledge niche. Published quarterly, in English and Arabic, Tharawat magazine is dedicated to creating non-syndicated original content focused on family business profiles, interviews, and best-practice articles. With over 10’000 hard copies circulated around the world, the magazine has also recently launched its own Tablet App with interactive features and embedded rich media, creating a compelling digital experience for its readers.
Alkhorayef Group For over 50 years, Alkhorayef Group has specialised in advanced technology to extract and supply the basics of life – water, food and fuel. We’ve helped build the infrastructure that has powered our region’s expansion. Now we’re doing the same all round the globe. With more than 5,000 employees, our diversified group offers complete and innovative solutions for projects ranging from farming to irrigation, desalination to generating power, extracting oil to lubricants in addition to printing solutions.
Continuum 2013 ATTENDEES
Companies Represented by the Attendees •
Abo Baker Omer Bazara/ Shamil Bank of Yemen & Bahrain, Yemen
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ADK Aronis Drettas Karlaftis Consulting Engineers, Greece
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Al Ghurair Investments & Al Ghurair Foods, UAE
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Al Nahla Group, KSA
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Alfagres Group, USA
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Alkhorayef Group, KSA
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Asharq Alawsat, UK
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Banco Del Caribe, C.A, Venezuela
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City University London, UK
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Education for Employment Foundation, USA
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Egyptian German Co.for Construction Industries S.A.E, Egypt
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Ettinger, UK
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FIMACA - Venezuelan Co. with Operations in Colombia and Ecuador Venezuela
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Hawiya, KSA
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Hayel Saeed Anam Group, UK
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IMD, Switzerland
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Industrie-und Finanzkontor and AG Vaduz, Liechtenstein
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Kawar Group, Jordan
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Market Street Trust Company, USA
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Nafais Holding Company, Kuwait
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Nasser Bin Abdullatif Al Serkal Est., UAE
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Natco Holding Co., UAE
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NCA Rouiba, Algeria
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Plastifill SA, Switzerland
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RP&C International and USI Group Holdings, UK
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Shadeco, KSA
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Snasco Holding Group, KSA
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WJ Towell & Co., Oman
Contact Us
Tharawat Family Business Forum Office 408, 4th Floor, Loft Office 1, Entrance C P. O. Box 502589 Dubai Media City, Dubai, UAE Phone: +971 (0)4 452 6578 Fax: +971 (0)4 452 4873 Email: info@tharawat.org Websites: www.tharawat.org www.tharawatconferences.org www.arabian-nextgen.org
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