On 3 October 2024, I had the pleasure of delivering a presentation at the webinar “The Art and Science of Making the Impossible Possible – A Journey of a Family Business.” Hosted by the Hume Institute for Postgraduate Studies (Hume) and the Islamic Chamber Training Academy (ICTA), this virtual event focused on leadership, education, and succession planning in family businesses. My participation followed the continued success of my latest book, “Transforming Challenges into Opportunities: Mastering the Art of Family Business Success,” which has drawn attention from academics and student societies worldwide.
With thoughtful opening and closing remarks by Prof. George Holmes DL, Vice Chancellor of the University of Bolton, the webinar provided an ideal platform to explore the keys to family business success. I shared my insights, shaped by over two decades of leadership at Tratos, a global cable manufacturing leader. I emphasized how essential it is for family businesses to blend traditional values with innovation to stay competitive in today’s rapidly changing market. Drawing on the themes from my book, I discussed how family enterprises can evolve without losing sight of the core principles that have driven their success.
Moderated by Prof. Mohammed Abdel-Haq, Director of the Centre for Islamic Finance at the University of Bolton, the event welcomed over 70 participants from various countries. It was gratifying to see how many attendees connected with the strategies I shared, reflecting on how my experiences resonated with their challenges and opportunities in family-owned businesses. Many expressed that the idea of blending tradition with innovation would significantly influence their future approaches.
One key takeaway I emphasized was the importance of leadership development within the family business. I highlighted the need to foster leadership from within, establish clear structures, and encourage continuous professional education to ensure that the next generation is ready to guide the business forward. Drawing from my roles as a Visiting Professor at the University of Bolton and Senior Visiting Fellow at Bayes Business School, City, University of London, I underscored how education is a powerful tool in shaping the future of family enterprises.
Succession planning, often a delicate subject for family businesses, was another central focus of my presentation. I shared my experiences crafting succession plans honouring the family’s legacy while driving future growth. I outlined best practices for ensuring smooth leadership transitions—ideas explored extensively in my book, which has become a valuable resource for family business leaders worldwide.