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?

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Although
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managing a
business
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vary from person to person, it is believed by some people that family firms are more likely to succeed.
This
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essay
suggest
Suggestion
suggests
that commitment and flexibility are the main advantages of family run businesses, while lack of knowledge, skills and interest among kinships are the major challenges. Employee’s dedication and adaptability are essential factor that can lead to a successful
business
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. Since family needs come
first
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, people who are working in the
business
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tend to be more committed and flexible compared to unrelated employees. They are willing to carry out diverse roles in the
business
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and work overtime without compensation if necessary.
For example
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, in 1903, Henry Ford established Ford Motor Company and is now considered one of the oldest running family
business
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in the world. Up
unto
up to, before the time
until
now, they still sell automobiles and various luxury cars around the worldwide while
other motor firms struggle
Suggestion
the other motor firms struggle
other motor firms struggles
to keep up
in
Suggestion
with
the industry.
On the other hand
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, some family members are not willing to work and others are not capable of maintaining their
business
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. Sometimes, some family members are not truly interested in joining the family
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business but
Accept comma addition
business, but
do so because it is what is expected from them.
These
Suggestion
This
leads to lack of commitment and responsibility, jeopardizing the growth of the
business
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.
Moreover
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, some family members are given a high position without proper knowledge, skills and experience to carry out a task, these of course has a far reaching effect on the success of a company. In conclusion, businesses managed by family are more likely to do well due to commitment and
flexibility
Accept comma addition
flexibility, however
however
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, they should
also
Linking Words
be careful not to employ relatives that lacks interest and ability.
Submitted by Emylyn Leopardas on

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    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
    • Sentence 4 - Outline sentence
  • Paragraph 2 - First supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 3 - Second supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
    • Sentence 3 - Prediction or recommendation

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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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