SIALKOT: An interactive one-day workshop on ‘Ease of doing business for family-owned enterprises’ was held at the University of Sialkot (USKT), under the umbrella of Professional Development Centre (PDC), in collaboration of Centre for Executive Education (CEE), Institute of Business Administration (IBA), Karachi.
The executives from renowned companies of Sialkot came to attend the workshop. Resource Person Professor Emeritus IBA Karachi, former governor State Bank of Pakistan and renowned economist Dr. Ishrat Husain, conducted the workshop.
Khawaja Masud Akhtar from the Forward Sports (Pvt) Limited Dr. Khurram Anwar Khawaja, and his son, a graduate in Engineering Ahmad Khurram Khawaja, from Anwar Khawaja Industries (Pvt) Limited, Gohar Durrani from Durrani and Co, Imran Malik, Khalid Malik and Jawad Malik from First American Corporation, Shafiqul Islam, director Nizam and Sons (Pvt) Limited, accompanied by Rizwan Ahmad, Omer Farooq, Ashraf Butt, Amer Majeed Sheikh from Rapid Cargo, participated in the sess
ion.
Dr. Ishrat Husain encouraged the executives to avoid conflicts and discrimination among shareholders. The significance of making and implementing the family business constitution was emphasised. He encouraged having collective meetings with HR, finance and sales managers on regular intervals. Professionals hired in the companies must be given a free hand to utilise their skills and knowledge rather than pressurising them behaving like a boss under restrictions all the time.
Consultants and counselors should be hired for constituting committees for resolving internal issues under the headship of the most senior family owned business.
About advantages of the family-owned business (FOBs) having quick and timely decision-making and problem-solving, crisis management, long-term outlook, recognising and grasping business opportunities, adapts to change, value system – integrity, honesty in dealing with suppliers, customers, employees, tax authorities there are some grave issues as well that need to be tackl
ed with the most professional and technical ways.
At the end of the session, Prof. Dr. Navid Jamil Malik, Director PDC, USKT, thanked all guests and the team of IBA for their time and guidelines.
The session ended with photographs and certificates were also awarded to the participants.