Understanding family dynamics and family conflicts

Understanding family dynamics and family conflicts

images (12) by Amin Nasser,Partner -Private
Company Services Leader at PwC Middle East

Conflicts and misunderstandings always exist in families and are the family businesses’greatest enemy.Managing conflicts is key not just to the survival of the business but to the survival of the family itself.Family members need to establish strong and well-structured business relationships.Being brothers,sisters or cousins may not be enough at times.
What role do family businesses play in the Gulf’s economy?
Family businesses have been the very foundation of the GCC economies.In fact more than 80 percent of the GCC businesses are either family run or controlled indicating that they are the basic fabric of the society and the regional economies.A large percentage of the commercial activity in the GCC is controlled by family business groups who are involved in several sectors and constitute the majority of the gross domestic product (GDP)not related to oil.The family businesses in the GCC also employ a substantial percentage of the regional workforce and therefore the transformation of the family business will have a significant impact on the region’s economy.Family Businesses in the GCC began as entrepreneurs and over the years diversified their business interests.A significant number of these businesses started in the early 1960s and are accordingly considered relatively young.GCC family businesses are mostly managed by family members of the first or second generation,and only few are in the third generation.

Understanding family dynamics and family conflicts

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