Business Enterprises in the Kingdom of Bahrain” list the following key findings of a study conducted on the FOBs in Bahrain:-
-The family businesses feel satisfied with their current strategic planning process;
-The Corporate Governance in the surveyed companies showed weaknesses but was not raised as a major concern.
-There is a serious gap in succession planning
-Majority surveyed companies do not see going public is important to them.
The study gave the following recommendations and conclusions:
-FOBs, need to establish a clear strategic direction and plans with annual review of these plans.
-Introduce continuous change and upgrade to IT systems;
-Have an effective Governance structure
-Well defined management and ownership changeover.
-Well defined succession planning
-Build a capable and talented management team.
-Focus on becoming performance oriented.
2.5. Stages of FOB – Ownership and Common Issues
| Ownership Stage | Dominant Shareholder issues |
| Stage 1: The Founder(s) | •Leadership transition •Succession •Estate planning |
| Stage 2: The Sibling Partnership | •Maintaining teamwork and harmony •Sustaining family ownership •Succession |
| Stage 3: The Cousin Confederation | •Allocation of corporate capital: dividends, debt, and profit levels •Shareholder liquidity •Family conflict resolution •Family participation and role •Family vision and mission •Family linkage with the business |
Source: IFC
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