In a collaborative initiative with the Prince Mohammad Bin Salman College and the National Center for Family-Owned Businesses, consulting giant KPMG served as the platinum sponsor and knowledge partner for the inaugural edition of the Family Business Hackathon 2024. Held in King Abdullah Economic City from June 27 to 29, the event gathered 265 participants from the Executive MBA program in a unique educational setting.
This comprehensive educational endeavor aimed to endow scholars with the skills necessary for project management and problem-solving excellence. As part of its commitment to nurturing and sustaining family-owned enterprises, KPMG actively engaged in the hackathon, sharing specialized industry insights and guidance through tailored business models.
Fouad Mohammad Shabrah, Head of Advisory Solutions and Leader of Private and Family Business Advisory at KPMG in Saudi Arabia, delivered a keynote presentation focusing on the enduring legacy of family businesses. Additionally, six KPMG specialists supported student teams, offered mentorship on potential challenges, and served as judges to evaluate the proposed solutions.
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The Prince Mohammad Bin Salman College’s initiative strives to promote continuity and sustainable growth for family-owned businesses. The event featured a blend of lectures, presentations, experiential learning sessions, and case studies based on real scenarios presented by Saudi family businesses.
“We are excited and proud of our collaboration with Prince Mohammad Bin Salman College for Management and Entrepreneurship to develop a new generation of innovative leaders who possess a profound understanding of family business dynamics and heritage,” said Shabrah. “Family businesses exhibit unique dynamics, often balancing the preservation of legacy with innovation across generations to ensure sustainability. We are proud to align KPMG’s goals with Vision 2030’s objectives by contributing to entrepreneurship, employment, and economic diversification,” he added.
Dr. Adnan Maalaoui, Professor of Entrepreneurship at the college, stated, “Our partnerships with leading consulting firms like KPMG are crucial for providing the talent and expertise required to excel in the evolving global landscape. These collaborations ensure our graduates possess the skills employers seek, facilitating a seamless knowledge transfer from academia to the business sector. Our partnership with KPMG aligns with our mission to empower individuals and institutions, enhance critical thinking and confidence to tackle real-world challenges, and contribute to sustainable development and economic growth in Saudi Arabia in line with Vision 2030.”
The college is dedicated to developing entrepreneurial leaders through world-class education and research. Within the college, the MBSC Institute for Family-Owned Businesses specifically addresses the unique challenges and needs of family-owned enterprises. Directed by Dr. Tarek Mesri, Professor of Accounting, the institute conducts academic research and provides customized executive education programs and strategic consulting services. Together, these institutions aim to create a thriving ecosystem where family businesses can continue to grow and contribute to economic development while fostering harmonious family dynamics.
Located in King Abdullah Economic City, the Prince Mohammad Bin Salman College for Management and Entrepreneurship offers a contemporary urban environment for both students and faculty, providing practical and experiential education to cultivate the next generation of future transformational leaders.
