Family Business Continuity in the Middle East & Muslim World

Betting Against the Odds

Non-Fiction - Business/Finance
440 Pages
Reviewed on 03/15/2018
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    Book Review

Reviewed by Romuald Dzemo for Readers' Favorite

What does it take to ensure family business continuity into future generations? In Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds, Fadi Hammadeh, a seasoned legal professional and intellectual offers a surprising answer to readers. In elegant and delightful prose, the author exposes the enviable role that family business plays in society in the Middle East and its contribution to the area’s non-oil GDP. In this book, readers will understand the four pillars of successful succession planning, learn strategies on managing family conflict, discover great leadership skills, and find the tools they need to create an effective family business strategy.

Fadi Hammadeh demonstrates a great understanding of the factors that contribute to failure in family business in the Middle East and elsewhere, and provides winning solutions for them. Readers will understand the implications of Sharia law and how it affects family businesses, but most importantly, they will gain the knowledge and the wisdom required to ensure the growth of their families and businesses. The book is filled with insightful thoughts and the author lets his legal experience come through the writing in an eloquent manner. The prose itself is crisp and polished, and readers can feel the compassion of the author from the way he articulates on very sensitive issues. This book is a useful tool from an expert in the field, a work that beautifully captures the author’s confidence and desire to help business owners. Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds will give readers what they need to run their business in a milieu that is complex in its laws and in a world that is swiftly outgrowing itself.

Arya Fomonyuy

Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds by Fadi Hammadeh is a wonderful tool for readers who own or are involved in a family business, a book that offers strategies and tools to help those living in the Middle East to ensure family business continuity. This book covers a wide range of topics, including an understanding of family business as the key tool to prosperity in the Middle East, how to successfully implement succession planning, how to manage family conflict, the nature of effective family business leadership, strategizing in family business, and a lot more.

With deep insights and wisdom, and drawing a lot from research and personal experience as a lawyer, Fadi Hammadeh unveils gems in an area of business that has not been carefully studied, one where practitioners and scholars ask a lot of questions — succession in a family business. This is a book that readers will find useful, a book with a message that will help family businesses to ensure continuity, and to rest assured that their successors can continue their business without any interruption. I enjoyed the simplicity and wisdom with which the author discusses the legal aspects of family business. One is left in no doubt that the book is well researched and that the author understands the needs of his audience well. Readers will enjoy the social takes on the Middle East and the author’s vast understanding of the culture of the people. Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds is a must-read for anyone involved in a family business.

Gisela Dixon

Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds by Fadi Hammadeh is a non-fiction informational book on the structural and legal aspects of family owned businesses. Family Business Continuity in the Middle East & Muslim World is written mainly keeping in mind the family run and owned businesses of the Middle East and Gulf states, which often operate under Sharia law. In the book, Fadi takes the reader through all of the components of running and inheriting such a business. The book is divided into chapters such as governance, family business leadership and conflict management, legal aspects and solutions, philanthropy and family firms, etc. There are detailed sub-sections under each of the chapters, along with a complete list of references at the end of the book.

Family Business Continuity in the Middle East & Muslim World is a book that would be most relevant to someone who is actually a part of this type of family business. Although the principles and strategies are applicable to family run businesses all over the world at a broad level, the book does deal exclusively with family run businesses in the Muslim world and, in many cases, under Sharia law. Thus, the scope of the work is restricted along these lines. However, Fadi obviously knows the subject matter really well and although I may not fit into the ideal target audience for this type of book, I found the material extremely interesting and also relevant to a certain degree. This is because more and more we live in an increasingly global world and it helps to understand the intricacies of businesses from all over the world. The fluid writing style makes this an engaging read which I would recommend.

Divine Zape

Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds by Fadi Hammadeh is a highly informative book that offers readers strategies to ensure that business owners in the Middle East and beyond understand what it takes to engineer a smooth and successful business succession. In this book, the author offers insights into those factors that contribute to the failures in family businesses, and offers innovative strategic solutions for them. Infusing the work with good legal and leadership advice, the author articulates brilliantly on a wide range of topics, including conflict resolution, philanthropy, strategic planning, leadership, and a lot more.

I enjoyed this book because it is an eye opening exposé on the current business landscape in the Middle East. It is interesting how the author skillfully weaves his experience and expertise in law into the writing. The writing is polished and makes for an enjoyable read. While the style is very accessible, Fadi Hammadeh does an impeccable job in offering practical and real-life examples that business owners will relate to. Readers are left in no doubt that this is the work of an expert in succession planning, and although this book is written for businesses, individuals will find invaluable advice in it. I also enjoyed the way the author portrays the business environment in the Middle East, bringing to readers a cornucopia of wisdom and facts they will find interesting. Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds is your tool for successful business succession planning.

Mamta Madhavan

Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds by Fadi Hammadeh is an engaging and thought-provoking book that sheds light on the Gulf family businesses, ownership, and wealth governance, and it also outlines a wide range of issues including business strategies, values, leadership, and conflict management. The author also sheds light on how the Gulf business families have built a strong community in the region, fostering authentic exchanges that will inspire generations of business owners and their advisors to tackle their challenges such as: an inadequate judicial system, poor governance models, and financial failures in the GCC (Gulf Cooperation Council). This book is for all those who want to learn more about the structure, context, challenges, and strategies of family business succession in the GCC and the Muslim world. This book is a journey of discovery and learning regarding family businesses.

The author handles a complicated topic with elan and approaches it methodically, pulling readers in to discover more about the emotional and psychological implications of family businesses in the Middle East, and also the importance of leadership, strategy, and philanthropy in the success and continuity of family firms. It is interesting to note that almost all the family businesses in the region have common factors and guidelines that make them great contributors to the world’s economic progress. The strategies and suggestions listed are good ones and will be helpful when it comes to giving business a structure, discipline, and financial vigor so that the business legacy will not be fragmented. The legal innovations and solutions help to plan for a worse case scenario so that the business legacy can be preserved.