Royal University of Phnom Penh Has Launched the New Master’s Program in Family Business Management

On May 31, 2024, the Faculty of Development Studies at Royal University of Phnom Penh (RUPP) organized the FAB Info Day: “Strengthening Family Businesses” for students, business owners, and the general public to gain a broad understanding of succession of family business as well as to disseminate the new Master Programme in Family Business Management, FAB VET courses and FAB Center.

The info day served several key purposes:

  • Extensive dissemination of the Master Program in Family Business Management
  • Introduce the various roles and opportunities of the Family Business Development Center in the Faculty of Development Studies, Royal University of Phnom Penh, and the online FAB VET Courses.
  • Promote enrollment by highlighting the features of the curriculum.
  • Provide knowledge on strengthening family businesses as a key driver for Cambodia’s sustainable development through a forum between educators and family business owners.

Guest speakers offered valuable advice for aspiring and established entrepreneurs. Mr. Uy Ratheany, Managing Director at IROC Service, emphasized the importance of “skill with passion” for success, underlining the need for creativity, innovation, and practical skills alongside a strong work ethic. He further highlighted the importance of clear job descriptions, defined workflows, and a strong company culture for family businesses.

Similarly, His Excellency Dr. Chiv Ratha, Deputy Director General of Youth at the Ministry of Education, Youth and Sport, emphasized the need for strong management systems in family businesses. He highlighted the FAB course’s ability to equip students and business owners with the skills to delegate tasks, establish clear roles, and conduct effective performance reviews.

Sharing an inspiring story, Mrs. Hav Gechhong exemplified how family businesses can thrive by identifying solutions to local needs. Her company’s air brick products address Cambodia’s hot climate, providing a natural cooling solution and promoting energy savings.

While, Mr. Phes Paly, founder of AM Group, underscored the importance of continuous learning and adapting to evolving business trends. He stressed that knowledge, skills, and honesty are essential for long-term family business success.

Finally, Mrs. Sola, a lecturer at RUPP, emphasized on the necessary of skills for starting and running a business. She encouraged students to stay updated on market trends and encouraged companies to practice CSR by offering job opportunities to students who have no experience.

The information session also features a forum discussion between educators and family business owners. This discussion provides valuable insights on strengthening family businesses and promoting sustainable development in Cambodia.