Akbank held the third "Akbank Family Company Academy" in association with the Sabancı University Executive Development Unit EDU to help family companies institutionalize and become sustainable.
After a successful launch in October 2014, the third Akbank Family Company Academy was held this year to respond to the great interest in the subject. The program is designed in partnership with the Sabancı University Executive Development Unit EDU to increase the competitive strength of family companies, achieve healthy growth, and support efforts towards sustainability and institutionalization.
Akbank’s Vice President of Small and Medium Enterprise Banking Bülent Oğuz said that they continued to improve the program, explaining: "We observed that family companies needed support and direction in sustainability, and implemented the Akbank Family Company Academy. We gave our first graduates in 2014, and now completed the 3rd program. The feedback we received from our participants was overwhelmingly positive. This compelled us to improve and continue the program. A new section of the program enables participants to benefit from the knowledge and experience of Sabancı Holding companies. Furthermore, a partnership with Brisa, a leading player in the industry, makes the program available to Brisa business partners as well. We are delighted that Brisa chose to go ahead with our program. The 30 Brisa business partners taking part in the program were certified in hands-on training about how to survive and thrive under fierce competition, and carry their companies on to future generations."
Oğuz pointed out that family companies were critical for the development of the Turkish economy, saying "This program is important to us because we believe that the growth of family companies is instrumental in the development of the national economy. Among the companies registered in Turkey, 95% are SMEs, and 98.8% of SMEs are family companies. The development of family companies means the development of SMEs and the national economy as a whole."
Sabancı University Executive Development Unit EDU Director Dr. Cüneyt Evirgen said the following about the program:
"The time we live in requires that we implement the right and actionable mechanisms for institutionalization and sustainable growth. As EDU, we hope to support SMEs, which bear critical importance in the Turkish economy, to institutionalize through the Akbank Family Company Academy. This program enables second and third-generation business owners to utilize the latest techniques and applications in the world of business to identify the development opportunities in their companies, and prepare business plans that will guide them through the institutionalization process. Application-oriented content draws the framework of the program, and the curriculum is bolstered with academic guidance and field visits.
Brisa General Manager Hakan Bayman commented:
"We at Brisa use every opportunity to emphasize the importance we place on sustainability. We believe that one of the vital aspects of sustainability is to develop continuous and well-rooted relationships with our business partners. Businesses enriched with the participation of family members have to expand their vision and increase their efficiencies to achieve strong growth in the competitive world of business. Acting on our vision of growing together with our business partners, we joined forces with Akbank and the Sabancı University Executive Development Unit EDU to help our business partners gain these competencies, make their businesses more sustainable, and ensure that their ventures are carried forward to future generations through greater institutionalization. I congratulate all business partners who were certified at the end of the training. As Brisa, we will continue to support our business partners to achieve our vision of growing together."
The program covers subjects most needed by the executives of family companies, including strategic management, business development, innovation, institutionalization, finance, good management practices, legal issues and human resources management. Global and local examples were used to merge theory with practice. At the end of the program, factory visits were made to Sabancı Holding companies and sessions were held to see human resources practices at Sabancı Holding entities in place in order to enable participants to gain firsthand experience about the subjects taught in the program.
Participants are also able to purchase consultancy programs that include the actions they will need to take for institutionalization and the creation of a family constitution from program partners at special discounts.
Experts from Deloitte Turkey and Pekin&Bayar Attorney Partnership took part in the program as well
Courses designed for family companies that wish to evolve into a corporation, keep up with current developments through academic training, and plan to handover company management to the younger generation were given by EDU advisors who are subject matter experts and long-time executives in business, as well as the trainers of program partners Deloitte Turkey and Pekin&Bayar Attorney Partnership. In addition, meetings were held with five distinguished executives, including the CEOs of Sabancı Holding companies. Participants found the opportunity to have one-on-one conversations with executives and ask them questions. Trainers and professionals taking part in the conversations shared their actual experiences and personal examples to put theory into practice.