You have to enforce discipline too | There are advantages and disadvantages; the success of it depends very much on the governance system the family has in place |
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My door is always open for all employees to be able to come and see me | Tharawat magazine spoke to him about family ownership, the next generation, and navigating the duality that exists between his role as both owner and manager |
Whether young family members can manage these challenges depends greatly on how they are raised.
15For the young generation members who are direct or indirect shareholders, depending on their ages, it is actually difficult to be employees in the company | The Abdulhaks are currently strengthening their family-based ownership structure by implementing a shareholder agreement and family constitution |
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Being in a family business means being more than just an employee | Moreover, within the company I think the communication channels have to be open |
Sheba Investment Holding Limited 16.
Shaher Trading overseas Limited 10 | I invite them to meetings just so they can witness how board meetings are run, how management meetings are held and also factory visits and other parts of my daily activities; that sort of thing engages them and I do it as early on in their careers as possible |
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We also have created a forum through which they are briefed on the company's performance | Mr Abdulhak's group is not new to South Africa and has been involved in mining activities before |
Educated as an architect, he began his role at STCO supervising supplier relationships.
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