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Industry leaders, academic researchers, educators, innovators, business pioneers, and more than 100 family business representatives from Saudi Arabia discussed the evolving landscape of family businesses and the modern business practices in Saudi Arabia.

The event, “Unlock Legacy, Foster Innovation: Navigating the Future of Family Business,” was organized by Prince Mohammed Bin Salman College of Business and Entrepreneurship, the Kingdom’s world-class business school and its MBSC Observatory for Entrepreneurship, Sustainable Innovation and Family Business, in collaboration with the National Center for Family Business and the STEP Project Global Consortium.

Discussions focused on key themes such as Legacy Preservation in a Modern Era, Intergenerational Leadership, Sustaining Family Values in Business Growth, Balancing Heritage and Disruption, Legacy as a Lever for Competitive Advantage, and The Role of Next-Generation Leaders in Legacy Businesses.

Participants gained insights from real-world case studies, enabling them to address challenges specific to family businesses. The event also fostered networking within the family business community and equipped attendees with essential tools for future leadership.

Dr. Zeger Degraeve, dean of Prince Mohammed bin Salman College of Business and Entrepreneurship, said: “We are delighted to highlight the significance of the event held. Participants gained valuable strategic insights, built connections within the community, and acquired essential tools for future leadership. This aligns with MBSC’s mission to empower organizations, fostering critical thinking and confidence in navigating the complexities of the real world. Ultimately, this contributes to the sustainable development and economic growth of Saudi Arabia.”

The MBSC Observatory for Entrepreneurship, Sustainable Innovation and Family Business convenes business and education leaders to address current economic, social, and environmental issues. Drawing on collective expertise, it supports effective decision-making and problem-solving, aiming for a lasting impact. Through shared knowledge and innovative solutions, the observatory creates value for startups, established companies, and family businesses.

Dr. Tarek El-Masri, assistant professor at MBSC and director of MBSC Family Business Institute, said: “Our newly inaugurated institute aims to be present at every intersection where family business researchers, owners, regulators, and experts meet to propagate family business continuity and sustainable growth.”

Situated in King Abdullah Economic City, a contemporary urban center that provides an unparalleled modern environment for both students and faculty, MBSC offers world-class education from Saudi Arabia for Saudi Arabia in both King Abdullah Economic City and Riyadh, delivering practical, pragmatic, hands-on experiential learning to develop a new generation of transformative leaders.

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