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Impact Of Covid-19 On Family Business And Corporate Governance In The Ksa
AlGhadi, Jana
AlGhadi, Jana
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Abstract
Family businesses form an important component of both private and public sector of business. It is highly strategic move to set up corporate governance so that the businesses can function effectively and efficiently in the market. It will help in improving the performance of the business by giving right amount of control to the family members as well as the non – family business members to avoid different types of conflict especially the one that is common between the owners and the managers. It also adds definite structure to the business thereby making it more successful. Saudi Arabia is home to many large firms that are run by families. Not only this, SMEs are also family businesses in both sectors. With the emergence of COvid-19 global pandemic the entire business industries across the world have been impacted. This impact was also faced by the family businesses in Saudi Arabia as well. The aim of the research was to assess the impact of Covid-19 on family business and corporate governance, and to find the link between the family business and corporate governance in the KSA. The methodology used was qualitative in nature due to the use of interviews from 2 – 3 family businesses in Jeddah, Saudi Arabia that provided with insights of how family business works with corporate governance and its impact on its performance respectively. The results of the research finally concluded that the family businesses.