Women in Family Business
Christina unlocks the transformative power of tackling tough conversations head-on in family businesses. From the nuanced role of timing in broaching sensitive issues to the enlightening impact of the COVID lockdowns on our understanding of mental health and the need to set personal boundaries, Christina sheds light on the conversations that can redefine the future of family enterprises.
Women Leaders in Family Enterprises (WLife) recently released the results of its 2023 research survey, which focused on identifying the biases faced by female family business leaders due to their gender. The survey also examines the repercussions of bias and discrimination within the family business setting, and how they affect perceptions regarding women’s competency, professional performance, and career progression.
Constant shifts, geopolitical instability, technological disruptions, and economic uncertainty will shape leadership in the 21st century. The next generation of leaders will be defined by their ability to chart a course through turbulent periods and their readiness to adapt to the growing drivers of significant global change.
In the dynamic world of family business and wealth ownership, women often face challenges rooted in historical norms and enduring biases. Despite these hurdles, the experiences of 11 remarkable women offer a ray of hope.
By fostering an environment that empowers women, family businesses can harness a diverse range of skills and perspectives. This, in turn, ensures a smoother leadership transition, increased stability, and a thriving future for the family business.
In this episode, Meghan Juday, Chair of Ideal Industries Inc., governance advisor, and founder of The Lodis Forum, and Marina Vaughan Spitzy, founder of legacy planning firm, Tecolote Advisory, and fifth-generation family business stakeholder, and Ramia El Agamy, Co-Founder of WiFB, discuss the results of their recent study entitled ‘Women in Power’ for which they interviewed near a dozen women who told their stories of bias and success in the family enterprise.
In this episode, Eva Fischer Hansen shares the personal and professional hurdles she overcame to safeguard the future of her family’s business, even after the decision to sell had been finalised. She also talks about the values instilled by her father that continue to guide her business decisions, and emphasises how focusing on a family member’s shortcomings rather than their role within the family unit may indicate that it is time to sell the business.
In this episode, Haleema Al Owais talks about the challenges she faced while navigating the UAE’s construction sector at just 23 years old. She shares valuable lessons she learned through adversity and the pivotal steps she took after assuming her leadership position — including opening a family construction firm to mitigate the effects of gender discrimination in the industry.
Dr. Yasmina Fechkeur talks about the challenges she faced in her family business’ industry, and how friction and conflict often fuelled the innovation that she feels is essential in every business.
From successfully navigating financial crises to pioneering innovative strategies, women in family businesses are showing us ways to safeguard their family’s legacy and ensure the growth and success of their companies for generations to come. Their stories highlight the resilience and determination of female leadership while illustrating the enduring power and strength of the family unit.
In this episode, Muna Al Gurg, who is now Vice Chair and Director of Retail for the Easa Saleh Al Gurg Group, one of the UAE’s leading diversified conglomerates with a portfolio of over 30 companies, talks about the innovative mindset she believes has always been essential for family businesses to thrive, the new opportunities that exist for firms willing to challenge traditional models, and the ‘three Ps’ that she believes should be the ethos of every family business: Profitability, People, and Purpose.
In this collection of quotes, the wisdom, insights, and stories shared by these incredible women encapsulate the challenges they faced, the triumphs they celebrated, and the lessons they learned along the way.