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

#people #business

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Many companies today are owned and managed by more than one member of the same family. There are obvious advantages to

this

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type of

business

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managements, including possessing common values and loyalty.

However

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, it is quite common that family-run businesses often suffer from lack of expertise and favouritism. One evident benefit of family-run enterprise is that family members often have shared values.

In other words

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, family members are likely to share the same ethos and beliefs on how things should be done.

This

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gives a

business

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an extra sense of purpose and pride, which can be considered a competitive edge for a company. IKEA, Dr. August Oetker, Ford Motor Company and Wal-Mart are all examples of successful family-owned businesses, all employees of which are committed to their company values and are willing to build a long-lasting enterprise.

Moreover

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, loyalty is

also

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a benefit which can be attributed to family-run companies. Strong personal bonds mean that people are likely to stick together in hard times and show the determination needed for

business

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success. During the 2008 global family-owned firms were the ones to sustain the least losses regarding financial matters.

Nonetheless

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, running a family company, has obvious disadvantages.

Firstly

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such

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companies may suffer from lack of skills or experience. So, some family businesses may appoint somebody into roles for which they are not exported enough or have no training and skills for.

This

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can have a negative effect on the success of the

business

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and lead to a stressful working environment.

Additionally

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, it is hard to be objective when choosing to promote an employee, regardless whether they are a member of your family or not. Family-owned companies oftentimes show favouritism towards a relative

instead

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of promoting the best worker. It is important to make

business

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decisions for

business

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reasons, rather than personal ones, but

this

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can sometimes be difficult if family members are involved. In conclusion, today there are numerous companies that are owned and run by a member of one family. While

such

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businesses have benefits, including motivation and loyalty, there are

also

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major drawbacks,

such

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as unqualified staff and in-group bias.

Thu Apr 23 2020

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Support ideas with relevant, specific examples

Examples make your writing easier to understand by illustrating points more effectively.

Examples, if used properly, not only help you get higher marks for ‘Task Response’ but also for ‘Coherence’.

When giving examples it is best to put them after your main idea or topic sentence. They can be used in the middle of supporting sentences or they can be used to start a new sentence. There is no rule for where exactly to give examples in essays, logically they would come after your main idea/topic sentence or just after a supporting sentence.

Linking words for giving examples:

for example
for instance
to illustrate this
to give a clear example
such as
namely
to illustrate
take, for example

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10
Linking words
meeting the goal of 7 or more
1
Word repetition
meeting the goal of 3 or fewer
0
Grammar mistakes
detected issues

0123456789.0505

Overall Band Score

Coherence and Cohesion: 6.0

Logical structure

Introduction & conclusion present

Supported main points

Accurate linking words

Variety in linking words

Lexical resource: 7.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 9.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 6.0

Complete response

7.5

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

4 paragraphs

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

Support ideas with relevant, specific examples

Increasing the price of petrol is the best way to solve growing traffic and pollution problems. To what extent do you agree or disagree? What other measures do you think might be effective?

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Many people believe that the high levels of violence in films today are causing serious social problems. What are these problems and how could they be reduced?

In Some Countries An Increasing Number Of People Are Suffering From Health Problems As A Result Of Eating Too Much Fast Food