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

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It is considered that to start a new
business
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, different type of professionals required. Some people believe that
business
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must be managed by family only, while others are in favour of hiring skilful people to work for their
business
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.
This
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essay will discuss both pros and cons of the statement. On the one ,hand the benefits of running a
business
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by the family are trust and easy availability of workforce required for every trade. Because it's really difficult to hire a new trustworthy intelligent community and taking risk of giving
business
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in their hands. For ,instance a
business
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like shops can be run by the family without any special team and it's worth taking the risk when a
business
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is managed by own reliable family member,
Moreover
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no interview process required and it saves plenty of time and energy. on the other ,hand there are many advantages of having well educated and experienced people.
business
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grow exponentially if it handled by the proper management team.
Although
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it requires a lot of investment to build a team,
that is
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compulsory in many scenarios.
for example
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to start an IT company a technical and management teams are essential
otherwise
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this
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type of
business
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can't be run by the family. In ,addition it's not obvious that every person in the family has technical skills. In conclusion, many argue that businesses must be run by safe hands while others do not agree to start a
business
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without a proper protocol.
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    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
    • Sentence 4 - Outline sentence
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    • 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
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    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
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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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