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.
Although
, it allows for the effective and efficient running of the
enterprise
Suggestion
Enterprise
, there is
also
the problem of nepotism. In my opinion,
the
subsequently or soon afterward (often used as sentence connectors)
then
positive
Suggestion
Positive
effects of establishments being owned
amd
in order to; used instead of "to", especially after try, come, go
and
managed by people
related
Suggestion
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
Suggestion
Whether a nuclear
Whether nuclear
or extended.
This
gives room for the continuity of wealth
and
Suggestion
And
preservation of legacies. Various families have
different mission
Suggestion
different missions
a different mission
statements
Suggestion
Statements
and patterns of transactions which they have
inconcated
make concrete and real
incarnated
into
their
Suggestion
Their
brands over the years.
In addition
, there is a lot of understanding
and
Suggestion
And
effective communication along the chain of command so the companies
operate
Suggestion
Operate
smoothly.
On the other hand
, family-run establishments are prone to bias
especially
Suggestion
Especially
in leadership. People employ their loved ones regardless of
academic
Suggestion
Academic
qualifications and competence. All in the bid to keep the
organisation
Suggestion
Organisation
in the family, they hire members with poor financial
judgement
Suggestion
Judgement
.
For example
, a popular superstore complex in London, in 2008,
declared
Suggestion
Declared
themselves bankrupt. To the surprise of the public, it was
discovered
Suggestion
Discovered
that the family members hired to take up executive positions
were
Suggestion
Were
actually not skilled in the field,
thus
, they ran the business to the
ground
Suggestion
Ground
. In conclusion, the idea of having family-owned enterprises is becoming
increasingly
Suggestion
Increasingly
popular. Even though,
such
initiative has produced very
accomplished
Suggestion
Accomplished
and
efficiemtly
with efficiency; in an efficient manner
efficiently
run businesses, it cannot be denied that it
infringes
Suggestion
Infringes
on the progress of the institution by way of nepotism. I believe
the
Suggestion
The
benefits of family-owned companies are more than the disadvantages.
Submitted by Serhii Baraniuk on

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