Strategic Planning for Family Business in the Kingdom of Saudi Arabia.
In this dissertation, the strategic planning process in a family owned firm of Saudi Arabia will be discussed. The main aim is to develop a comprehensive model of strategic planning, specific and customized to the family businesses of Saudi Arabia. The model will encompass all the factors that are unique to the Saudi Arabian family businesses, such as the family culture of Saudi business families, the interfamily dynamics that shape the strategic approach of the family and the unique market conditions or the external environment that influences the strategic planning process of family owned firms in Saudi Arabia. The literature review extensively covers the topic of strategic planning, family business dynamics and major salient features of family business described by various authors. The literature review also discusses the models of family business that define the interaction of various elements in family owned firms, their drawbacks and the gaps in applicability of these documented models to family businesses in general and specificallyt o Saudi Arabian family businessesT. he literaturer eview revealst hat there is no comprehensivem odel of strategicp lanning processf or the family owned firms that highlight all the critical factors that shape the strategic planning process and also documents uccessfufli rms that haveb enefitedf rom thesem odels. Based on an extensive survey of the family owned firms of Saudi Arabia and statistical analysis of various unique features of such firms, the most critical factors that play a major role in strategy formulation could be isolated. These critical factors helped in designing the strategic planning model for the family owned firms of Saudi Arabia. The model was practically implemented and validated in 10 family businesses of the kingdom and results confirm the applicability of this model. The model formulation and validation in the family firms of Saudi Arabia, forms the main focus of this dissertation.
Family business, Strategic planning, Mission statement, Generation, Succession planning, External environment, Internal environment, Family vision, Family constitution, Family council, Family conflicts, Family culture, Saudi Arabia, Family owned firms, Interfamily dynamics, Business management
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