The family business model is dominant in Nigeria. Well-run family businesses are usually successful. Nonetheless, family-owned enterprises in Nigeria face special challenges. Who will lead the family and/or the firm into the next generation? How to disentangle personal and business relationships? Should long-term investment take precedence over short-term dividends? Get the answers wrong and the results can be disastrous – for family and firm alike. Get them right and you will have a high-performance business and a happy, wealthy family.
This programme will help family businesses in Nigeria rethink their strategies for a better future and offer practical/relevant frameworks to realize their goals. It will also be unique, novel, and attuned to a real world problem in the Nigerian business environment.
As many family businesses throughout the world transition to new generations of leaders, their success and continuity depend on the management and leadership effectiveness of those at the top. This programme will help established, new and aspiring family business leaders master the concepts and skills required to navigate the intricacies of these complex organisations. It covers the full gamut of management issues from family business strategy, governance and succession planning to entrepreneurship, family offices and family business culture. Guided by our faculty of experts in family business practice, seasoned advisors and leaders of best-in-class family enterprises, the learning experience will include interactive lectures, case studies and group discussions with peers facing family business challenges similar to yours.
Key Learning Objectives/ Benefits
- Better understanding of the family business model
- Learn how to leverage the strengths of family business management and successfully implement practices that drive high performance, shareholder loyalty—and healthy family relationships.
- Navigate specific challenges and critical issues in your family business
- Probe key issues facing family businesses: growth, risk, governance, succession and culture
- Learn to manageconflict, complex family structures, diverse personalities and difficult relationships.
- Benchmark best practices to broaden your understanding of successful family businesses
- Get concrete take-home value to drive overall performance
- Develop a concrete action plan for career planning, talent development, family meetings, family agreements and governance.
- Family business model: global success stories
- The challenges and opportunities of the family business model in Nigeria
- Purpose, Heritage, Values, and Vision: Essential Elements of the family business model
- Managing Growth Strategies and Performance without losing family control
- Family Business Practicum I
- Leadership Succession and Longevity Planning
- Effective People Management Strategies for Family Businesses
- Corporate Governance, Risks, and Ethics for Family Businesses
- Corporate Sustainability and Social Responsibility
- Family Business Practicum II
- Financing Family Businesses and Investors Management
- Corporate Identity, Communication, and Brand Strategies
- Transitioning from family business model to other alternatives
- Goal Setting, Risk Management, and Action Planning
- Practicum III