There is very little data about the status of boards of directors in Lebanon. Most businesses are family owned, and only a few of them have formalized boards. In this episode, Farida El Agamy and Cherine Debbas discuss the challenges of implementing a board of directors in a family business context, as well as the first steps to kick start the process of creating a functioning board of directors.

Legacy is often viewed as a privilege and something to be proud of in family businesses. A legacy can be tangible and intangible, light or heavy and encouraging or discouraging. In this episode, Farida El Agamy and Cherine Debbas explore what legacy is, how it is transmitted from one generation to the other and what actions can be taken to improve the chances of a successful transmission.

Most successful and well-established family businesses have a family constitution. This document and practice has still not been widely adopted by Lebanese family businesses. In this episode, Farida El Agamy clearly and simply explains the key elements of family constitutions and provides a step-by-step approach for implementing a useful and family aligned constitution.

The topic of Family Business Governance has been widely researched in the US and Europe. But what about Lebanese family businesses? What are their practices, culture and views about governance? In this episode, Hovig Kozobiokian shares with Cherine Debbas some key insights he gathered while doing research about Lebanese family business governance and succession.

Family members and employees have different contributions to the business that make them equally valuable. Balancing the different privileges and obligations is a very delicate act if the business wants to retain its top family and non-family talents. Dr. Georges Samara, whose article on “Fairness in the Family Business Workplace” has been nominated for best article award in 2017, shares his findings about how to practice fairness for business performance in the complex set up that is the family business workplace.

The need for independent board members is an often hotly debated topic within family businesses both in the region and internationally. In this episode, Farida El Agamy and Cherine Debbas discuss the various benefits and pitfalls that accompany inviting an independent board member into the family business workplace.

There comes a time when all businesses must develop and implement succession plans. Crucial for the longevity of the firm, this is a highly important process to get right. However, data shows that although family businesses have the best longevity rates, they are very vulnerable when it comes to the succession process. So how do firms get it right? How do you embark on such an emotional and personal journey?

Secrecy in family business is often an unspoken topic. Handling secrecy, however, is an area that all family businesses should be well versed in. Secrecy between members in family business can result in destructive repercussions for the family firm. Family secrets can be particularly problematic in that they are oftentimes transferred from one generation to another, and they gain in complexity along the way. In this episode of the podcast, we will explore the different types of secrets commonly seen in a family workplace, and how to best handle the fallout when a secret is revealed.

Over the past decade, family offices have become more and more popular around the world. Initially an anglo-saxon concept, this approach to private wealth management has seen a rapid evolution. In this episode of the podcast, we welcome our guest and expert Bilal Zein. Bilal has established one of the first single-family offices in the Levant and provides us with an inside perspective on the current developments and the future of the industry, specifically in our region.

History has revealed that the professional capabilities and competencies of women in family businesses have been largely overlooked. Many wives and daughters and women, in general, have played key roles in firms, which generally have been kept hidden. In this episode we are joined by Caroline Fattal, Board Member of the Fattal Group and Founder of Stand For Women, a social enterprise which aims to accelerate progress for women in the workforce across the Middle East. Caroline shares her unique experience, knowledge and insights on her experience as a woman in business over the last twenty years.

Microinsurance is a highly impactful financial arrangement aims to protect low-income families by offering insurance plans tailored to their specific needs. Microinsurance is often found in developing countries, where the current insurance markets are inefficient or non-existent. In this episode of the podcast, we are joined by expert in the field Coralie Zaccar, Assistant General Manager at Commercial Insurance Co, to share her knowledge and experience on this significant topic.

To thrive in a competitive landscape, family businesses must be willing to adapt and change. Firms must learn to embrace innovative thinking and explore new ideas, processes and procedures in order to stay relevant and ensure the continuity of their business. However, change isn't always easy and disrupting long standing processes in place of new methods can often be daunting. Brothers Anthony and Nicholas Boukather from ANB Holding join us to share their expert insights and experience on implementing innovation, embracing failure and making the necessary changes that ultimately lead to success.

Entering into a family business through marriage can be a challenging course to navigate, and one which often requires a steep learning curve. It takes time and perseverance for an in law to fully integrate into a family business and earn the trust, respect and value of the family members. In this episode, we are joined by Lena Idriss who's husband is a member of the WAFIC Idriss family business based in Lebanon.

Making the decision to join the family business can be an exciting albeit daunting time for a next generation family member. It is a personal journey that is unique and diverse for each individual. So what are the considerations that a next generation family member should be making prior to joining their family firm? What useful advice can be given to make their transition easier, and how can the family provide the support and encouragement needed to further the new members' success in the company?

Statistics show that 81% of the world’s largest family businesses practice Philanthropy. It is widely acknowledged that family business Philanthropy is essential for many communities around the world. However, additionally to having a lasting positive social impact, Philanthropy also affords family businesses many internal reward. Philanthropic activity is a key element in maintaining strong family bonds across generations and it provides an opportunity for family members to work together for the greater good.

Increasingly, we are seeing circumstances drive family businesses to seek candidates from outside of the family to fill the position of CEO. Though the majority of family businesses tend to instill a preference for next generational leadership and management, in reality, this is not always a plausible or sensible decision for the business. The incorporation of a non family CEO can be a tumultuous and complicated journey, for both parties. With a new CEO comes significant change, and it can be notoriously challenging for family members to adjust. So what are the steps that can be taken to prepare both the family and the CEO in order for the transition to run as smoothly as possible? What are the challenges and considerations that need to be taken for this new dynamic to work effectively?

Human emotions are extremely intricate and complex psychological states and the interplay of emotions in family and business is often difficult to address. Emotions can be reactions to internal stimuli (thoughts, memories) or external events that occur in our environment. Reactions to these stimuli are entirely unique to each individual, and as a result, managing them can be particularly difficult. This is notably so in the family business arena where the additional overlap between professional and family life increases the challenging situations. In this episode, guest speaker and expert in the field Professor Rania Labaki joins us to share her insights on this interesting topic.

With ever-fluctuating markets and economic cycles, nothing is certain for family businesses so knowing how and when to diversify is more important than ever. However, getting the timing right on when and how to diversify can be a difficult task that many family businesses face. In this episode, Imad Alfadel, the managing director of Saray Capital joins us to share his knowledge and expertise on why diversification is important for family firms, how it can be best achieved and the rewards and pitfalls that accompany it.

Merging family members with business can be a complex arena to navigate, one which requires patience, open communication and complete trust for the dynamic to work effectively. There is a reason many look to family members to join them in business, the arrangement comes with a multitude of benefits and an equal number of challenges. So what advice can be given to family members to help their relationships and business thrive?

In this episode we are joined by twin brothers Nicolas and Anthony Boukhater to learn from their successes and explore their unique and personal history on working together in partnership as CEO and Chairman of ANB Holding.

Next Generation leadership development is a highly important topic for family businesses to consider. It is important that NextGens feel integrated, educated and well prepared to join their family firm, if they so choose.

So, what advice can be given to family business members to ensure the relationships between generations thrive and to ensure that NextGen's are supported in their decisions, both inside and outside of the family business?

In this episode, we are joined by 2nd generation family member Nour Rifai to hear her personal insights and experience on growing up in a family business.