Dubai Announces New Toolkit to Resolve Family Business Disputes Initiative launched by Dubai Centre for Family Businesses.
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Dubai Chambers' Dubai Centre for Family Businesses has issued two toolkits to equip family businesses with practical resources to navigate the complex relationships that impact family business dynamics.
The first toolkit is titled "Using Genograms to Navigate Family Business Dynamics" and focuses on the use of genograms as an effective tool to gain a deeper understanding of the relationships that influence business operations.
Family relationships are highlighted as a key driver in decision-making, succession planning, and daily management processes.
A genogram is a visual tool that can be used to map family and group relationships across generations. Unlike a traditional family tree, it goes beyond biological ties to offer a holistic perspective in areas, such as emotional connections, social roles, and professional relationships.
This tool has gained widespread popularity in fields such as medicine and psychology as an effective method for analyzing family dynamics. It can be leveraged by family businesses to help manage these connections more effectively.
Related: How Family Businesses Create Value
The second tool is the "Conflict Resolution Mechanism" toolkit that offers practical guidance on how to address and resolve conflicts within family businesses. It outlines an organized and effective approach to overcoming disputes and fostering harmony to ensure business continuity and preserve family relationships.
The toolkit provides detailed advice on the strategic management of disputes arising from differing perspectives, interests, or values among family members, with an emphasis on promoting understanding and collaboration to ensure the success of the business while maintaining strong family ties.
The guideline covers the key elements of a conflict resolution mechanism for family businesses, identifies the parties responsible for handling such situations, and includes a conflict resolution charter. In addition, it outlines several proactive methodologies for addressing, evaluating, and mitigating disputes to minimize their impact on family business operations.
Related: For Family Businesses In The Middle East, Formalized Governance Can Help Create Lasting Legacies
