Challenges facing the succession of family owned businesses in Saudi Dissertation

Challenges facing the succession of family owned businesses in Saudi Arabia - Dissertation Example Family based businesses in Saudi Arabia face major challenges in the form of operating in a difficult global economy as well as managing the overall transition phase of the business to a new generation of family control. In order to survive and grow and make a place among those elite family based businesses that have been able to achieve long lasting global success the companies has to domesticated the restless entrepreneur conditions and design long term strategies to manage the business. Structured steps can help the companies’ o gain log lasting success. This has to start with the steep revolution of the existing business portfolios. The process may actually include divestment, product differentiation to develop a long term growth strategy along with the structuring the internal operations of the firms. Here, it is to be mentioned that all these can be achieved by retaining the emotional attachments to the businesses. The same kind of dedication and discipline is needed to clip the portfolio of the businesses has to be applied to analyze new investment policies. This may call for a situation where family members have to invest in activities that are quite different from that of the activities of the firm. Developing a formal corporate governance mechanism to monitor business activities is likely to be another crucial step that the families may have to take to achieve long term success. This may even involve the recruitment of outside talent and initiating org anizational change. The present study looks to analyze all these factors. This study will help to observe the aspects of family own business in Saudi Arabia and certain succession aspects within family business. In order to achieve the objective of the research, physiological attitudes, theories of culture, and several legal and socio-cultural aspects have been studied. The integration of these aspects will influence the results and outcomes. The phrase family business is familiar both within Western and Eastern countries. According to Chua and Chrisman family business is acknowledged as a business managed to shape and follows a vision held by a leading alliance controlled by a member of a family. One objective of family business is to control and manage the business in order to sustain for the future generation. However, all members in a family are in the same

Marketing Essay Example | Topics and Well Written Essays - 2000 words - 4

Marketing - Essay Example CLASS NUMBER: †¦4†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. TITLE/TOPIC OF ASSIGNMENT: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Marketing 100 Situational Analysis†¦/Target Market Identification Report and Collage †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦.. Please read the following and sign where indicated DECLARATION: I/We declare the attached assignment is my/our own work and has not previously been submitted for assessment. This work complies with Curtin College rules concerning plagiarism and academic misconduct. [Refer to the Policy library on www.curtincollege.edu.au for full details on our Plagiarism and Student Misconduct polices.] I/We have retained a copy of this assignment for my own records. Signed: ____Wang Jue__________________________________________ Date___10 December 2010___________ This document is current at 31/08/2010. Page 1 of 1 1.0 Situation Analysis 1.1 Current Marketing Mix 1.1.1 Current Product Sunsilk Co-Creations-Addictive Brill iant Shine Shampoo is one of new Sunsilk’s Co-creations hair care line products. It consists of chemical as well as natural ingredients. The ingredients of the shampoo were chosen to achieve healthy shine, to co-create Sunsilk’s most advanced Addictive Brilliant Shine formulation for healthy hair that dazzles with shine (Unilever in Australia, 2011). Therefore, consumers benefit from buying a product in the form of healthy hair and â€Å"brilliant shine†. The company has teamed up with Jamal Hammadi from LA hair dresser to Hollywood stars and famous for his natural approach to achieve healthy shine (Unilever in Australia, 2011). It has inherent to all Sunsilk products cambered package, so customers can easily identify the shampoo as Sunsilk’s product. The bottle has red color and a big symbolic sign â€Å"!† on the front. The package developed by Brown Inc. (Brown Inc. 2011) makes product look modern and even hi-tech. This features distinct the pro duct from other shampoos and attract customers at the same time. Sunsilk Co-Creations-Addictive Brilliant Shine Shampoo is a part of hair care complex consisting of the shampoo and conditioner. Therefore, customers are given reason to by the shampoo together with the conditioner. The main targeted groups of customers are females between 16 to 40 with middle and high income level. Other groups of customers also might buy the product. Sunsilk Shampoo might be classified as staple goods because customers can use it regularly although they easily switch to another similar shampoo if the one is absent. Therefore, the shampoo is a star product of Unilever’s new product line. Its modern, professional and high-tech. It has original features that attract customers however; people can easily identify one of Sunsilk’s products. Customers can use it regularly although they easily switch to another similar shampoo if the one is absent. 1.1.2 Current Pricing The shampoo market is hi gh-competitive. There are many brands but in fact the most of them are owned by a few corporations such as Unilever, Procter&Gamble and Schwarzkopf. Sunsilk brand belongs to Unilever, the second biggest shampoo market company in the world. Unilever (2011) claims to practice value-based pricing. This means that the price is set based on the value a customer receives using the product. The primary importance of this kind of pricing is to encourage demand through setting the price according to customers feeling of the real value of the