Some people think that the best way to run a business is within the family. What are the advantages and disadvantages of a family run business?

It is considered by some people that the ideal option to run a

corporation

is to have it within the family.

This

essay will discuss

firstly

, the certain benefits

such

as more success and trust aspect associated with

family

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a family business

family businesses

the family business

business

and

secondly

, the drawbacks it

have

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has

mainly disputes and lack of knowledge in family members. There are certain positive outcomes linked to a family operated

corporation

.

To begin

with, the top management

work

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works

harder to bring success to their family

business

. Directors and managers are the real controlling authority in a

company

, so if they are from the same family and perform their duties with more efforts, their

business

would flourish more rapidly. The Service Brand of Shoes in Pakistan,

for instance

, have their whole senior management who

belong

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belongs

to one family, which in turn, had fostered their image as a successful brand in the

business

world.

Furthermore

, family members trust each other, which is in turn, productive for the

company

.

This

is because there may be critical financial matters of a

corporation

which could not be shared and discussed with the people working in the

company

, who are not from the same family.

This

means matter related to finance can be

otherwise

only disclosed with

family

a person attached to the household of a high official (as a pope or bishop) who renders service in return for support

familiar

people.

Consequently

, economic matters

would be handle

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would be handled

with care, which would result in a better

finance

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financial

management.

On the other hand

, there are some downsides of a family run

company

.

First

,

business

disputes can lead to family conflicts. If a matter

arise

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arises

in the

corporation

which create differences or issues among family people working together, could be highly likely to affect and harm their personal relationships.

For example

, Shah Businesses in India, has recently been found in family fight, owing to the differences among

business

partners from the same family.

Secondly

, individuals involving in the

company

belonging to one family may not possess certain professional skills required for a specific position, which is detrimental for a

corporation

. For a

company

to gain growth requires skills which may be lacking by the family person working on a certain job post. As an illustration, performing duties as the CEO or Managing Director, require vital skills, in order to look after

business

matters.

Thus

, lacking those skills may result in the failure of a

company

. In conclusion, there are negative outcomes related to the family run

business

such

as

company

develops

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development

and trust between people from the

some

closely similar or comparable in kind or quality or quantity or degree

same

family working together.

On the other hand

, there are certain

drawbacks mainly

Accept comma addition

drawbacks, mainly

the differences among individuals and members not possessing specific knowledge to work on a post in the

company

.