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Posted On: 8 March 2011 03:50 pm
Updated On: 12 November 2020 02:10 pm

Entrepreneurs learn more on corporate governance(tu)

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Dr Lee Hausner The Qatar chapter of Entrepreneurs Organisation (EO) hosted renowned world expert on family businesses and succession planning, Dr Lee Hausner. EO Qatar Communications chair Patrick Forbes said the invitation to Hausner to lecture the organisation’s members was part of a learning strategy tailored to the needs of local businesses. “Family businesses dominate the private sector in Qatar and neighbouring Gulf states and the increase in government supports for SMEs and entrepreneurs will lead to a growth in founder-CEOs, who will eventually require business succession strategies. Hausner’s expertise and insights have undoubtedly provided us with a better understanding of the key issues,” he said. Hausner is president of the First Foundation Advisors, and an internationally recognised clinical psychologist, business consultant and family wealth advisor. The event saw Hausner give a presentation on the issues facing family businesses and the two main roots of discord: conflicting values, and different definitions of personal well being among family members. Hausner identified four main areas where succession planning should be given due consideration: business, management, ownership and estate. She explained the importance of second generation family members in understanding the core of the business and their need to be competent owners to ensure effective corporate governance. The lack of clear communication and transparency, she added, often lead to a lack of consensus that hinders managerial and operational effectiveness.