• The Challenge of Inheriting Power in Family Firms

    As an entrepreneur starts and grows a business, he learns how to acquire, manage, and cultivate power. Through the school of experience, this power is then used to manage the business through the cycles of growth, consolidation and further growth. In contrast, successors claim their power by virtue of their Read More
  • How to Write the Right Mission Statement?

    A Mission Statement is a declaration of what the family’s goals are and what they want to achieve. Many families assume they must begin their governance work by having a Mission Statement. The Family Office Association recently interviewed Jay Hughes and Barbara Hauser about their views on Mission Statements. In Read More
  • Entrepreneurial Spirit in the Family Business

    In the family business we have to consider the origin of entrepreneurial spirit as a function of generations: In the case of the founder, entrepreneurial spirit was a necessity, because they often do not have infrastructure or wealth when starting out. In this creation phase, there is a force, a Read More
  • Preventing "Fault Lines" in the Family Business

    Moving tectonic plates on the surface of the earth have and will always cause fault lines.  These points of convergence and pressure are inevitable and can cause earthquakes at a large scale. Due to divergent desires and changing personal situations of family members, such points of convergence and pressure can Read More
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Issue 22

Economic Impact of Family Businesses

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Issue 21

Conflict and the Family Business

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Issue 20

Art & Family Business

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Issue 19

Family Business Entrepreneurship

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About Tharawat magazine

Launched in 2008 in Dubai, UAE, Tharawat magazine is a global business publication with a special focus on family firms and entrepreneurship. It is published by Tharawat Media FZ LLC.


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From Blog

  • Why Watching Football Can Help Your Family Business +

    With the 2014 FIFA World Cup underway in Brazil, the world has been treated to an exciting array of football matches between the nations. While the usual matchups between traditional Read More
  • Launch of the “Good Governance in Family Firms” Report +

    Tharawat magazine’s founding partner the Tharawat Family Business Forum and Gulf based non-profit organisation the Pearl Initiative have launched in an exclusive event in Dubai a case study report on Read More
  • The Economic Impact of Family Businesses - Tharawat magazine Issue 22 is Out! +

      Volume 22, May – July 2014   Family-owned firms account for approximately 70% of global GDP, are significant job creators, drive innovation, and are important caretakers of the environment and Read More
  • Caran d'Ache and Lalique Join Forces by Combining Centuries of Craftsmanship Heritage +

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    During our visit to Baselworld we attended the launch of the Crystal Limited Edition designed and manufactured by the two historic family businesses Caran d'Ache and Lalique. Read the Read More
  • Tharawat magazine to be a media partner for Art Dubai 2014 +

    Tharawat magazine is excited to announce that we will serve as official media partners for the upcoming Art Dubai 2014 event. The event, which will be held on March 19-22, Read More
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And the Award goes to...

The cold weather stood in stark contrast to last week’s heated Family Enterprise Case Competition in Burlington, Vermont. After three days of case analyses and presentations, the lucky few teams that made it into the finals started the last day of the competition by receiving a complex case document on yet another family business conundrum. With only three hours at their disposal to put together an analysis and presentation to impress the distinguished panel of finalist judges, students faced great pressure and team spirit was put to the test.

Amongst the undergraduate finalists were the teams from Asper School of Business (University of Manitoba), Dalhousie University, the University of Vermont Business School, the John Molson School of Business (Concordia University), and Stetson University’s Family Enterprise Center. The teams that made it into the graduates final round were the teams from Kellogg School of Management (Northwestern University) and Jönköping International Business School.

Amongst the jury for the undergraduate panel were noted family business academic Dr. Kelin Gersick, Management Fellow at the Yale School of Management; real estate tycoon and sponsor of the FECC Stephen Ifshin, Chairman of DLC Management Corp.; John Hall, COO of Rachael Ray, Watch Entertainment, Inc.; and Tharawat magazine’s Editor-in-Chief Ramia M. El Agamy. With five undergraduate teams contesting for the FECC cup, the judges had their work cut out for them and were forced to take a few hours of deliberation until the tight competition could come to a satisfactory conclusion.team spirit

On the jury for the graduate jury were FECC sponsors Mark DiMichaelis, CEO and President  of Olivia's Organics and State Garden Inc. & DeMichaelis Properties LLC; James R. Keller, President, Green Mountain Business Consultants; as well as Barbara Spector, Editor-in-Chief of the Family Business Magazine.

To add to the great pressure that the competitors must have felt on this last day, the final round was opened to all the other teams and the whole day the ballroom at the Hilton, Burlington boasted of near to 100 people in the audience. After the presentations were over, the judges withdrew into an isolated room for deliberation and assessment.

The award ceremony that ended the FECC was a cheerful affair and clearly demonstrated the friendships the students had forged during these four, sometimes trying days. Sponsors, ambassadors, and organising committee were honoured and various awards were given out to best presenters, most creative and most fun-to-work-with teams building up the anticipation to the handing over of the FECC cups. Under soaring cheers and applause the cups were finally awarded to the John Molson School of Business in the undergraduate category and to Jönköping International Business School in the graduate competition.


It is safe to say that participants, judges and organisers had great fun during the 2014 FECC and that this unique competition will only grow in years to come symbolising a significant and much needed contribution to the family business field.

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