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Saudi Binladin Group

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Business
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Old Dominion University
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Homework
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Saudi Binladin Group FAMILY BUSINESS Introduction  Saudi Binladin Group is a multinational construction conglomerate that is one of the largest familyowned businesses in Saudi Arabia.  The business has its headquarters in Jeddah, Saudi Arabia.  Mohammed bin Awad bin Laden founded the company in 1931 after migrating from Yemen to Saudi Arabia in the 1920s.  Saudi Binladin Group attributes its success to government contracts from the Royal family that began because of Mohammed bin Laden's friendship with King Abdulaziz.  Unfortunately, Mohammed bin Laden died in 1967, and he left the company to the remaining members of the Bin Laden family, including 70 children and grandchildren with dozens of wives and daughters.  This paper explores issues facing the Saudi Binladin Group's family business, ways the Bin Laden family can deal with the issues, strategies to improve professionalism and its succession plan. Issues facing Saudi Binladin Groups family business  Labor unrests- The business has suffered reputation problems and public backlash because of workers' strikes and protests because of unpaid wages and layoffs of 77,000 employees (Ridel, 2016).  Project bidding ban- In 2015, Saudi government cancelled government construction contracts, and projects issued to the company after a crane accident at the Grand Mosque of Makah caused the death of 111 people (Riedel, 2016).  Corruption scandal- Two dozen Saudi Binladin Group employees ...
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