Family Governance

As the family grows by size and transitions from one generation to another, several dilemmas pertaining to the role, control, decision-making process, leadership, and wealth management arise among the family members. Such predicament eventually leads to loss of transparency, the absence of accountability, family conflicts and abuse of leadership, thus distorting and potentially inflicting harm on the family business performance. As more family members are now involved in the company, governance issues tend to become relatively more complex than those observed during the initial stage of the business existence. Accordingly, the family has to develop a readiness to address some of the most common challenges of the Sibling and Cousin Confederation stages.

To promote sustainability, Okeili&co supports Family-Owned businesses in

• Developing a Family Operating Model that addresses the activities of the family
• Drafting their Family Constitution that regulates family members dealing with each other, with the business and with the community at large.

Family Business Stages Along the Common Challenges at  Each Stage

Sample Work Contributed
Developed and supported the implementation of a Family Operating Model and drafted through several workshops the Family Constitution for several medium to large-sized Saudi and regional Family-Owned Businesses.