Question: The benefits of running a family business far outweigh the disadvantages. Relate this to your personal experience. Use specific examples and provide appropriate evidence to support your answer.
1. Introduction
Family business is the oldest and most common model of economic organization. In the contemporary society, it has been highly concerned that whether the benefits of running a family business far outweigh the shortcomings or not. In this essay, the advantages and disadvantages would be analyzed respectively. Then, the more academic answer would be given after searching online. As far as I am concerned, there are both supports and objector for running a family business.
1. Advantages
Those who are in favor of the benefits outweigh the disadvantages claim that it has several advantages.
Firstly, it is easier to control a family business than other form of business. The most obvious characteristic of the family enterprise management is that they combined the property rights and management rights unity into one. Besides …show more content…
In the early stages of the development of family enterprises, most enterprises lack of funds, the rise and fall of enterprises is closely related with the interests of the family. The enterprise operation and management personnel are generally dominated by members of the family, all members have a common aim and regard the enterprises as their own life. The most precious point is in enterprise financial difficulties, the entrepreneur's relatives can, under the condition that the enterprise is unable to pay, adhere to do the voluntary work and help enterprises to survive. So members are extremely obligated to the work, even sacrifice of themselves, this kind of spirit of the power, for those family-owned enterprises, is generally difficult to
1. Introduction
Family business is the oldest and most common model of economic organization. In the contemporary society, it has been highly concerned that whether the benefits of running a family business far outweigh the shortcomings or not. In this essay, the advantages and disadvantages would be analyzed respectively. Then, the more academic answer would be given after searching online. As far as I am concerned, there are both supports and objector for running a family business.
1. Advantages
Those who are in favor of the benefits outweigh the disadvantages claim that it has several advantages.
Firstly, it is easier to control a family business than other form of business. The most obvious characteristic of the family enterprise management is that they combined the property rights and management rights unity into one. Besides …show more content…
In the early stages of the development of family enterprises, most enterprises lack of funds, the rise and fall of enterprises is closely related with the interests of the family. The enterprise operation and management personnel are generally dominated by members of the family, all members have a common aim and regard the enterprises as their own life. The most precious point is in enterprise financial difficulties, the entrepreneur's relatives can, under the condition that the enterprise is unable to pay, adhere to do the voluntary work and help enterprises to survive. So members are extremely obligated to the work, even sacrifice of themselves, this kind of spirit of the power, for those family-owned enterprises, is generally difficult to