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?

Running a

business

is challenging task nowadays and

also

it is a controversial topic. Certain individuals believe that the right way to maintain continuity of

business

is within relatives.

Although

the benefits of running

business

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a business

the business

by family are better coordination and the

employment

. The drawbacks are conflicts and misusages. On the on hand, The major advantage of the

business

run by their relative is

employment

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employed

. As entire organisation is monitored and controlled by the family. Young sibling need not worry for

employment

as after completion of their studies, they can anytime join the entity or in some case if the acquaintance does not wish to pursue an education they can directly take on

employment

in any of the department of the organisation. Another common advantage of the trade performed by its family

member

is coordination. Since all the working staff are from within the family there will be better understanding within the teams and

hence

work is carried out smoothly without any difficulties. Example of Reliance industries in India, Entire family runs all the major corporate and all are successful.

Company

every year is gaining new heights as every

member

is employed from the beginning.

On the other hand

, Multinational companies operated by the family, individual have a negative impact and one of those issues is conflicting. For all the people working in senior positions within the entity are its family

member

, always there are disputes among the people because of finance and distribution of wealth. The other most common problem noticed in family run

business

is the misuse of

company

resources. Since entire

business

is family owned, there is a high chance that

member

utilize the facilities of the companies for their personal

business

. If in case one

member

avail

this

facilities other pupil will

also

come forward to use it.

This

shall lead to closure of

business

for continuing utilization of

company

equipment.

For instance

Kingfisher Airlines, The CEO and all the other management staff were family members and due to frequent quarrels within the family

member

and

also

the airways were

use

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used

by most

member

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members

of their luxury had resulted in huge loss to the

company

and today

company

is demise from the market. In conclusion, Cooperation and

employment

are the positive about family

business

, whereas, the negatives are family conflicts and inappropriate use are the organisational resources .