Invited Talk Session - PG- Organisational Behaviour & Human Resource Management

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: