Risk Management - The Heart of Good Governance
Building the Next Generation of Family Businesses
In the current business climate where Volatility, Uncertainty, Complexity and Ambiguity take centre stage, repercussions of failing to establish effective Risk Management frameworks, grounded upon sound principles, can prove costly.
This workshop will discuss Risk Management, its purpose and objectives, and examples of how such frameworks enable Family Businesses to remain relevant in today's fast changing environment.
About the Series
The unique foundation of family businesses is in its interaction between the business and the owners – the family. By drawing on trust, stability and flexibility, many family businesses have been able to prosper. However, despite these advantages, the foundation of family businesses also has its vulnerabilities; two in three family businesses do not survive past the first generation. Given the turbulent business environment of Myanmar in the recent years, it is imperative for family businesses to address certain key issues to guarantee their survival and to remain competitive.
The first advantage of family-owned businesses lies in the more personal approach of conducting business on the basis of trust. By nurturing loyalty, commitment, and stewardship, trust within the family can serve as the cement for competitive advantage and sustainable growth for family businesses. Trust in family businesses is anchored in the family's values and vision, resulting in strong managerial commitment and loyalty that can be difficult for non-family businesses to replicate. This commitment can lead to benefits such as stronger customer relations and a highly productive workforce.
Date: Tuesday 11th August, 2020
Time: 13.00 - 15.00
Cost to Members: $5
Cost to Non-members: $15
Access and Cancellation
You will be sent the link to attend 24 hours in advance, then again one hour before. You must pay for your ticket in advance of the webinar, or you will not be sent the access link.
If you are no longer able to attend please cancel your place 24 hours in advance via email to email@example.com. All no shows will still be charged the entry fee. Places which have not been cancelled will not be refunded.
Risk Advisory Myanmar, Corporate Governance, Risk Management, and Internal Audit Leader at Deloitte