Corporate Institutionalization
Institutionalization can be defined as the establishment of an institutional framework that allows corporates to carry out their activities smoothly, without being dependent on the top management and their arbitrary discretion, thus ensuring the corporates’ continuity. A significant portion of SMEs in Türkiye are family businesses, and only 2% of all enterprises survive to the third generation. Analyses indicate that intra-family conflict is a major factor in the discontinuity of the enterprises.
The institutionalization process aims to establish rules, practices, and systems related to the effective management of an enterprise. Ensuring the compliance of the enterprise’s financials and activities with the tenets of participation finance is also included in the definition of the corporate institutionalization process.
In this regard, the following services are provided under our consulting services in corporate institutionalization:
- Identification of the core values of enterprises.
- Determining the constitution and rule sets in family businesses.
- Standardizing processes and workflows
- Structuring human resources processes
- Preparing management metrics
- Ensuring digital transformation
- Ensuring compliance with green transformation
- Ensuring Shariah (fiqhi) compliance in financials and the areas of activity