Family businesses often have unique dynamics where personal and professional relationships are intertwined.
Understanding how to navigate these dynamics is crucial for maintaining both business success and family harmony.
The Africa Higher Education Health Collaborative, KNUST in partnership with Mastercard Foundation has therefore organized a workshop on conflict resolution and family business management for MSc Health Entrepreneurship students at the Kwame Nkrumah University of Science and Technology (KNUST).
The seminar carried out by the Health Ecosystem pillar led by Dr. Joseph Owusu seeks to train and prepare a new generation of talented professionals with the broad sets of skills required to drive equitable and inclusive growth in Ghana’s health sector.
The students have already been trained on Intellectual Property, regulatory issues and legal aspects of health business.
Legal practitioners, Mr. Kwabena Sarkodie Aboagye, and Mr. Richard Obeng Mensah and corporate development strategist, Mrs. Mary Asante Asamoah, led the session.
Mr. Richard Obeng Mensah suggested family businesses resort to Alternative Dispute Resolution (ADR) mechanisms over courtroom litigation to maintain peace.
“Family businesses adopt more Alternative dispute Resolution Mechanisms such as arbitration, mediation and negotiation rather than courtroom litigation.
“In order to avoid the hostility that comes with litigation, and also preserve the cordial relationship among family members; the alternative mechanisms to litigation should be used,” he recommended.
The Africa Higher Education Health Collaborative in partnership with the Mastercard Foundation seeks to advance healthcare in Africa through two other pillars: Health Employment and Health Entrepreneurship.
The Health Entrepreneurship pillar aims to develop an entrepreneurial mindset and culture that supports entrepreneurs to create meaningful innovations and employment opportunities in the health sector.
The Health Employment pillar also aims to expand and improve current capacities to train primary healthcare workers.