Many businesses in the world today are run by family members. Do the advantages of family-run businesses outweigh the disadvantages. Give reasons for your answer and include any relevant examples from your experiences or knowledge

   More and more companies in recent times, are being owned by families.
, it allows for the effective and efficient running of the enterprise, there is
the problem of nepotism. In my opinion, the positive effects of establishments being owned
in order to; used instead of "to", especially after try, come, go
managed by people related by blood or bond are far greater than the negatives.    A lot of very successful businesses globally are run by a family, whether nuclear or extended.
gives room for the continuity of wealth and
the preservation
of legacies. Various families have different mission statements and patterns of transactions which they have
make concrete and real
into their brands over the years.
In addition
, there is a lot of understanding and effective communication along the chain of command so the companies operate smoothly.    
On the other hand
, family-run establishments are prone to bias especially in leadership. People employ their loved ones regardless of academic qualifications and competence. All in the bid to keep the organisation in the family, they hire members with poor financial judgement.
For example
, a popular superstore complex in London, in 2008, declared themselves bankrupt. To the surprise of the public, it was discovered that the family members hired to take up executive positions were actually not skilled in the field,
, they ran the business to the ground.    In conclusion, the idea of having family-owned enterprises
is becoming
are becoming
increasingly popular. Even though,
initiative has produced very accomplished and
with efficiency; in an efficient manner
run businesses, it cannot be denied that it infringes on the progress of the institution by way of nepotism. I believe the benefits of family-owned companies are more than the disadvantages.
Submitted by adufeakinyemi on

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