Students of PG- Organisational Behaviour & Human Resource Management at Global College Malta had an enriching session on Entrepreneurship and Family Businesses with Dr. Joseph Gerada from the Family Business Office. It was a valuable and informative experience for students where they were briefed on topics such as Growing successful family businesses, hyper-competitive business environments, Entrepreneurial Skills, Family Business Success trends, the structure of family business, etc. Some characteristics of his family business shared are:

• Members: He explained that a group of people who are the owners and operators of the firm, as well as members of a single family, manage family businesses. It helps the students get clarity about family business structure.
• Members’ positions: He concentrated on how family members’ roles and positions within the company are influenced by their relationships with one another.
• Control: Since the family owns a large portion of the business, he explained how they maintain control over it.
• Entrepreneurial skills: He makes the point that while being an entrepreneur entails launching and growing our own profitable company, those with these abilities can also succeed in family business groups.
• Participation of Several Generations: The business is managed and operated by the family, and as a result, the reins are passed down from one generation to the next.
• Mutual Trust: Given that all parties engaged share a common origin, set of values, and business perspective, each party must have mutual trust.

Dr Gerada also shared practical tips on:

1. Running a successful business
2. Real-world examples shared by Dr. Gerada
3. Engaging in Q&A session with students