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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Running a family

business

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is becoming very popular among many people around the world. While there are numerous benefits of establishing a family-run

business

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, few drawbacks

also

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pull a plug on

this

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type of venture in some instances.

This

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essay will look into both merits as well as demerits of trades that are maintained by a family. One major positive of a family-owned

business

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is that profit does not need to be shared with any other party.

This

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results in a greater amount of profit that can be utilised to grow the

business

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For example

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, there are a number of family farms in Australia which are found to be lasting a significantly longer period of time with substantial profits.

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, many people trust their family members more than any outsiders which bring the continuation of a venture.

Therefore

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, a

business

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becomes exponentially profitable

over time

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overtime

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under consistent ownership.

However

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, there are some disadvantages of

this

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which cannot be underestimated. A trade

that is

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solely operated by like-minded family people often lacks innovation. The

business

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model becomes monotonous and in many cases, may lead to termination due to

this

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reason. Most consumers nowadays are very aware of the products.

As a result

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, the

business

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needs to be on its toes with intellectual advancement which could be missing with the same approach of trading under family ownership. In conclusion, despite some drawbacks of a family-maintained venture, mostly it brings consistency as well as a greater sense of trust and income.

mhssumon01Sat Sep 18 2021

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Your opinion

Don’t put your opinion unless you are asked to give it.

If the question asks what you think, you MUST give your opinion to get a good score.

Don’t leave your opinion until the conclusion.

Here are examples of instructions that require you to give your opinion:

...do you agree or disagree?...do you think...?...your opinion...?

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8
Linking words
meeting the goal of 7 or more
1
Word repetition
meeting the goal of 3 or fewer
1
Grammar mistakes
detected issues

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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: 7.0

Varied vocabulary

Accurate spelling & word formation

Grammatical Range: 8.0

Mix of complex & simple sentences

Clear and correct grammar

Task Achievement: 5.0

Complete response

Clear & comprehensive ideas

Relevant & specific examples

Appropriate word count

4 paragraphs

248 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 a business is within the family. What are the advantages and disadvantages of a family run business?

Your opinion

Some people think it is more important to spend money on roads and motorways than on public transport systems such as railways and trams To what extent do you agree or disagree with this statement?

In the future, more people will choose to go on holiday in their own country and not travel abroad on holiday? Do you agree or disagree?

A lot of places in the world rely on tourism as a main source of income. Unfortunately, tourism can also be a source of problems if it is not managed correctly. Describe the advantages and disadvantages of tourism in the modern world. Do you think that benefits of tourism outweigh its drawbacks?

It is a widely accepted fact that children nowadays are very tech savvy. They are very adept in using electronic gadgets like laptops, smartphones, tablets and personal computers. This essay will thoroughly examine the positive and negative aspects of widespread adoption by children.