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

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It is true that family-run businesses have never stopped gaining in popularity over the world.

Although

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this

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model is applauded by many experts, it still exists some limitations. On the one hand, there are a number of advantages of family-run businesses.

First

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, since the

company

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is operated and overseen by family members,

such

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as children and wife, or relatives, it is difficult for outside parties to steal the control of the

business

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This

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means that the family has an absolute control and power over strategic decisions, staffing or a payroll, which is of great benefits for all family members.

Second

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, since family-run businesses are private corporations, they are not subject to complex financial complicating reporting requirements.

As a result

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, the

company

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can save a great deal of money on hiring a team of professional accountants to prepare external reports and deal with government stakeholders.

On the other hand

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, family-run businesses are not without disadvantages. In fact, conflicts related to

business

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among family members have the potential to sabotage any family relationships.

For instance

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, the dispute over either

business

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owner or salaries might lead to a quarrel or even an avoidable family estrangement.

In addition

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, non-family employees working for family-run

business

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might see the way of running the

company

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is not fair to them.

For example

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, even if they perform exceptionally well and make enormous contributions to the

company

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, chances are they will not be recognized enough compared to those who are family members. In conclusion, given clear advantages that family-run

business

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have, there are still some limitations. By acknowledging the limitations, the

business

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owners can find the ways to dodge them.

Sun Mar 29 2020

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10
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meeting the goal of 7 or more
2
Word repetition
meeting the goal of 3 or fewer
0
Grammar mistakes
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Overall Band Score

Coherence and Cohesion: 9.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 8.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 9.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 9.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

4 paragraphs

271 words

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Topic Vocabulary:

loyalty
trust
communication
generational knowledge
long-term outlook
family traditions
stability
cost-effective
flexible payment arrangements
conflict
tensions
roles
diversity
external perspectives
innovation
adaptation
succession planning
instability
leadership
ownership

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