Summary of Does Technology Make or Break the Family Business?

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Rating

7 Overall

8 Applicability

7 Innovation

7 Style


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.

In this summary, you will learn

  • What characteristics the family business embodies,
  • Why every family business is unique and
  • Why new technologies are critical to family businesses.
 

About the Speaker

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

 

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...

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