Family Training I Dubai I Familosophy

The fact that you own a family business can be a blessing and a curse in times of difficulty. Family businesses have a number of advantages over other types of businesses, including the presence of family elders who have survived previous recessions, the support of the family unit, and the fact that they tend to be more risk-averse than other types of businesses, putting them in a better position to weather the storm.

However, some of those very characteristics might also present themselves as flaws. Families run firms, for example, are concerned about a wide range of stakeholders, including employees and consumers, rather than being solely concerned with shareholder value. Additionally, when family tensions are brought to the surface under strain, they can often disclose underlying stress fractures and intensify conflict in relationships, which can result in even greater division.

How do you capitalize on your talents while avoiding your weaknesses?

Communication with all stakeholders on a frequent basis and being completely open will help to create trust.
Make use of family leadership, shared values, and governance to your advantage.
Learn from others' experiences, such as military methods to VUCA conditions, and apply what you've learned to your own situational awareness.
Consider the following: When it comes to the COVID situation, how has your family's business responded? Has it demonstrated strength or weakness (or a combination of the two)? Have you considered what your family members can do to assist you (apart from assisting with specific operational matters)?

Are you looking for advice on how to make your family business in Dubai operate better? David Werdiger is the number one choice when it comes to Dubai family owned business protocol help. Mr. Werdiger is helping hundreds of family owned businesses pass the torch using his famous Dubai Familosophy techniques

His market is two-fold:

Scenario #1: The older generation wanting to work with the younger generation, bring them into the company, teach them how to run things, and then retire from the office, but not the income

Scenario #2: The younger generation wanting to jump into the family business, but to be able to contribute and be heard, and not having to “wait their turn” before they can begin to help run the business.

Visit David’s Website at: https://davidwerdiger.com/ or his GMB site at:  https://goo.gl/maps/YiKUeBhXzapPAYyP6

SOURCE: https://davidwerdiger.com/2021/02/family-business-covid/

For further information, please see David's website at: https://davidwerdiger.com/ or his Google My Business page at: https://goo.gl/maps/YiKUeBhXzapPAYyP6

Purchase the Familosophy book at https://www.transitionbook.co/international-free-book-1

Learn more about Familosophy at https://bizcourse.transitionbookbonus.com/sales-promo

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SOURCE: https://davidwerdiger.com/2022/01/family-business-covid-2/