Workshop on Ease of Doing Business for Family Owned Enterprises

An interactive one day workshop on “Ease of Doing Business for Family Owned Enterprises” was held on December 11, 2023 at 10:00 am in the Conference Room of the Main Building of USKT under the umbrella of Professional Development Center (PDC), University of Sialkot with collaboration of Center for Executive Education (CEE), Institute of Business Administration (IBA) Karachi. The executives from renowned companies of Sialkot came to attend this work shop. The resource person Professor Emeritus, IBA Karachi, former Governor State Bank of Pakistan and renowned Economist, Dr. Ishrat Husain conducted the workshop. Mr. Khawaja Masud Akhtar from Forward Sports Pvt. Ltd, Dr. Khurram Anwar Khawaja and his son (Graduated in Engineering) Mr. Ahmad Khurram Khawaja from Anwar Khawaja Industries Pvt. Ltd, Mr. Gohar Durrani from Durrani and Co, Mr. Imran Malik, Mr. Khalid Malik and Mr. Jawad Malik from First American Corporation, Mr. Shafiq Ul Islam, Director Nizam and Sons Pvt. Ltd accompanied with Mr. Rizwan Ahmad, Mr. Omer Farooq, Mr. Ashraf Butt, Mr. Amer Majeed Sheikh from Rapid Cargo participated in the discussion session very warmly.

Dr. Ishrat Husain encouraged the executives to avoid conflicts and discrimination among shareholders. The significance of making and implementing the Family Business Constitution was emphasized. 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 utilize their skill and knowledge rather than pressurizing 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.

Talking about the advantages of the FOBs having quick and timely decision-making and problem-solving, Crisis management, Long-term outlook, Recognizing 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 tackled with the most professional and technical ways. At the end of the session Prof. Dr. Navid Jamil Malik, Director PDC, USKT thanked all the guests and the team of IBA for their time and guidelines. The session ended with photographs and certificates were also awarded to the participants.