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Does Technology Make or Break the Family Business?

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Does Technology Make or Break the Family Business?

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The family business is the world’s most common business model. But is it a blessing or a curse?

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Editorial Rating

7

Qualities

  • Applicable

Recommendation

Ramia El Agamy, editor-in-chief of a specialist publication on family businesses, is passionate about her mission to support family-owned enterprises. She explores the weaknesses inherent in family businesses and investigates how those weaknesses can also be strengths. New technologies, perhaps feared by the older generation, can entice the younger generation to carry on building the business. Although lacking case studies that could provide powerful illustration, getAbstract believes El Agamy’s talk provides much food for thought to be shared at the family table.

Summary

The family business is the world’s most common business-ownership structure, yet individual family businesses are immensely diverse. Some are listed on the stock market; others are managed by the original founder’s family; many employ just the nuclear family; and some encompass a large extended family. Though every family enterprise is unique, all share some traits. Often seen as weaknesses, these characteristics can also be strengths:

  • “Long-term orientation” – This can prevent owners from seeing short- and medium-term opportunities. However...

About the Speaker

Ramia El Agamy is editor-in-chief of Tharawat, a magazine that focuses on family businesses.

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