Dubai Centre for Family Businesses launches two toolkits
The Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers, has issued two toolkits aimed at equipping family businesses with practical resources to help resolve disputes effectively and navigate the complex relationships that impact family business dynamics.
The first toolkit is titled ‘Using Genograms to Navigate Family Business Dynamics’ and focuses on the use of genograms as an effective tool to gain a deeper understanding of the relationships that influence business operations. Family relationships are highlighted as a key driver in decision-making, succession planning, and daily management processes.
A genogram is a visual tool that can be used to map family and group relationships across generations. Unlike a traditional family tree, it goes beyond biological ties to offer a holistic perspective in areas such as emotional connections, social roles, and professional relationships. This tool has gained widespread popularity in fields such as medicine and psychology as an effective method for analysing family dynamics and can be leverage by family businesses to help manage these connections more effectively.
Meanwhile, the ‘Conflict Resolution Mechanism’ toolkit offers practical guidance on how to address and resolve conflicts within family businesses. It outlines an organised and effective approach to overcoming disputes and fostering harmony to ensure business continuity and preserve family relationships.
The toolkit provides detailed advice on the strategic management of disputes arising from differing perspectives, interests, or values among family members, with an emphasis on promoting understanding and collaboration to ensure the success of the business while maintaining strong family ties.
The guideline covers the key elements of a conflict resolution mechanism for family businesses, identifies the parties responsible for handling such situations, and includes a conflict resolution charter. In addition, it outlines several proactive methodologies for addressing, evaluating, and mitigating disputes to minimise their impact on family business operations.
Launched in May 2023, the Dubai Centre for Family Businesses operates under the umbrella of Dubai Chambers to ensure the sustainability and growth of family businesses in Dubai. The centre aims to develop this vital sector and enhance its economic contribution in line with Dubai’s future development plans. It works closely with partners from both the public and private sectors and provides support to all family businesses operating in Dubai.
The toolkits can be accessed by visiting the centre’s official website.
Last Updated on 2 days by News Desk 1
